Fidelity vs. Schwab: 2025 Comparison
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Fidelity and Charles Schwab often rise above the competition in our analysis of online brokers. Both offer something for every investor: There are powerful trading platforms for active traders, a large investment selection that includes thousands of no-transaction-fee mutual funds for retirement or passive investors, and libraries of educational resources for beginners.
But Fidelity edges ahead of Schwab slightly when it comes to its research and data offerings; and Fidelity also offers several index funds that charge no expense ratio, which is rare in the industry. Fidelity also offers a high interest rate on uninvested cash. Schwab, on the other hand, has a slightly larger investment selection, including more no-transaction-fee mutual funds and the ability to trade futures.
Here's our direct comparison of Fidelity and Schwab:
Fidelity is best for:
Frequent traders.
Beginner investors.
Research and data.
Retirement planning assistance.
Fidelity at a glance
Account minimum | $0 |
Stock trading costs | $0 |
Options trades | $0.65 per contract |
Account fees (annual, transfer, closing, inactivity) | Annual fee: $0 Inactivity fee: $0 Outgoing transfer fee: $0 |
Interest rate on uninvested cash | Over 4%. |
Number of no-transaction-fee mutual funds | Over 3,300 |
Tradable securities | Stocks, mutual funds, ETFs, options, bonds and fixed income, precious metals, crypto |
Trading platform | Three: Fidelity.com, mobile app, Active Trader Pro |
Mobile app | Available for iOS and Android |
Research and data | Several data providers, including Argus, Zacks, CFRA and S&P Global |
Customer support options (includes how easy it is to find key details on the website) | 24/7. Hours vary by contact method, but you can get help via phone, email, chat, over social media or at a physical branch. |
» Read our full review of Fidelity
Charles Schwab is best for:
Beginner investors.
Advanced traders.
Investors seeking no-minimum index funds.
Investors who rely on premium research.
Charles Schwab at a glance
Account minimum | $0. |
Stock trading costs | $0. |
Options trades | $0.65 per contract |
Account fees (annual, transfer, closing, inactivity) | Annual fee: $0 Inactivity fee: $0 Outgoing transfer fee (partial or full): $50 |
Interest rate on uninvested cash | 0.45% |
Number of no-transaction-fee mutual funds | More than 8,000 |
Tradable securities | Stocks, mutual funds, ETFs, options, bonds, futures, futures options, forex |
Trading platform | Five: Schwab.com, Schwab Mobile and thinkorswim for web, desktop and mobile |
Mobile app | Available for iOS and Android |
Research and data | Over a dozen, including Morningstar, Refinitiv/LSEG, Argus, Vickers and Computrade/Market Edge |
Customer support options (includes how easy it is to find key details on the website) | 24/7 phone and chat support |
» Read our full review of Charles Schwab
NerdWallet rating 4.8 /5 | NerdWallet rating 5.0 /5 | NerdWallet rating 4.6 /5 |
Fees $0 per online equity trade | Fees $0.005 per share; as low as $0.0005 with volume discounts | Fees $0 |
Account minimum $0 | Account minimum $0 | Account minimum $0 |
Promotion None no promotion available at this time | Promotion Exclusive! U.S. residents who open a new IBKR Pro account will receive a 0.25% rate reduction on margin loans. Terms apply. | Promotion Earn up to $10,000 when you transfer your investment portfolio to Public. |
Want to compare more brokers? View our full list of the best online brokers.
How do we review brokers?
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We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
