Fidelity vs. Schwab – A Detailed Comparison

Discover our detailed comparison of Fidelity and Schwab to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience. 

To make your research easier, we manually found key data for Fidelity and Schwab across the internet and compiled it all in this article. 

Overview of Fidelity

Fidelity is a well-established brokerage firm known for its comprehensive range of financial services. It is one of the only institutions that offers zero-cost mutual funds, at the expense of less frequent dividend payments. While they don’t offer leverage products like futures, they allow you to invest in crypto, and they are one of the only brokerages that provides custody of the fund’s Bitcoin.

✓ Extensive investing options
✓ Good customer support
✓ Great overall investing platform

Fidelity is Best For

Fidelity is best for long-term investors, but not as much for active traders seeking leveraged products like futures contracts. However, the options trading fees are competitive, they provide many low-cost investment funds, and they allow you to invest in cryptocurrency, making it a great all-around brokerage.

Overview of Schwab

Charles Schwab is a well-established brokerage firm known for its wide range of investment products and services. Schwab also provides a user-friendly online platform and mobile app, along with educational resources to help clients make informed investment decisions. Additionally, they offer banking services, retirement accounts, and access to financial advisors.

✓ thinkorswim charting tools
✓ Best overall investing platform
✓ Banking and investing options

Schwab is Best For

Schwab is a great brokerage for long-term investors and active traders alike. With its recent acquisition of TD Ameritrade and the thinkorswim platform, Schwab is suitable for anybody looking to trade and invest in the stock market.

Key Characteristics of Fidelity and Schwab

Platform	Platform Type	Tradeable Assets	Charting Features	Data	Premium Pricing
Fidelity	Brokerage Platform	Stocks, ETFs, Mutual Funds, Options, Index Options, Bonds	Active Trader Pro Platform	Real-time data with funded account	No premium features
Schwab	Brokerage Platform	Stocks, ETFs, Mutual Funds, Options, Index Options, Futures, Futures Options, Bonds	thinkorswim platform	Real-time data with funded account	No premium features

Trading Features and Tools

Platform	DRIP	Margin Trading	Insurance	Mobile App
Fidelity	Yes, no fees	Yes	SIPC Insured	Yes
Schwab	Yes, no fees	Yes	SIPC/FDIC Insured	Yes

Trading Costs and Commissions Compared

Fee Type	Fidelity	Schwab
Equity Commission	Free	Free
Option Commission	$0.65 per contract	$0.65 per contract
Futures Commission	No futures	$2.25 per contract
Futures Options Commission	No futures options	$2.25 per contract
Option Exercise Fee	None	None

Fidelity vs Schwab – Bottom Line

Choosing between Fidelity and Schwab depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in. 

Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.

For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.

What is the Overall Best Charting Software?

I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:

• All of TradingView’s key features are free to use
• TradingView provides real-time data for free whenever possible
• You are not tied to a single broker and can use whichever you want while charting on TradingView
• You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
• TradingView has an excellent economic calendar and various screeners

If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more. 

Related Trading Platform Comparisons

Interactive Brokers vs tastytrade

Interactive Brokers vs TradingView

Schwab vs Vanguard

Interactive Brokers vs Robinhood

Schwab vs Tradestation