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Comparing Charles Schwab and Fidelity is kind of like comparing Robert De Niro to Al Pacino. Both are legendary, have countless awards, and a long track record of excellence.
And honestly, if you're a fan of one, there's a good chance you highly respect the other.
Fidelity and Schwab are both heavyweight brokerage firms and some of the most trusted names in finance. They each manage trillions in assets and serve millions of investors -- including myself!
Here is a fair comparison of each firm's account types, fees, investments, tools, and support to help you find the best fit.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Commissions
Commissions
$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
Commissions
$0 commission for online U.S. stock and ETFs*. No account fees****.
Both Fidelity and Schwab offer a full lineup of account types -- more than enough to meet the needs of most investors.
Here are the common accounts you can open with either firm:
Individual and joint brokerage accounts
Traditional, Roth, SEP, and Rollover IRAs
Custodial accounts for kids
529 college savings plans
Solo 401(k)s and small business retirement plans
Trust and estate accounts
Fidelity also offers a popular HSA (health savings account), while Schwab integrates with HSAs through partner platforms.
The bottom line is both brokers cover 99% of what everyday investors need, whether you're just getting started or managing a complex portfolio. If you want to house everything in one place, either firm can make that happen.
Investment options: Fidelity goes deeper, but Schwab is no slouch
Most top brokers offer access to almost all major investment types. Here is what you can invest in with either Fidelity or Charles Schwab.
Stocks, bonds, ETFs
Index and mutual funds
Options
IPO shares (limited)
Fidelity stands out with its zero expense ratio index funds and robo-advisor options like Fidelity Go®.
Schwab shines with its Schwab Intelligent Portfolios, a free automated investing service with no advisory fees.
One notable gap is Crypto. Fidelity now allows Bitcoin, Ethereum and Litecoin trading via Fidelity Crypto. Schwab currently has no direct crypto trading, though users can get exposure via crypto-focused ETFs.
Fees and commissions: A near tie, with some key differences
Both Schwab and Fidelity offer commission-free trading on U.S. stocks and ETFs, along with zero account minimums and no annual fees for most accounts types:
Broker
Stocks and ETFs
Options
Mutual Funds
Fidelity
$0 per trade
$0 plus $0.65 per contract
$0
Charles Schwab
$0 per trade
$0 plus $0.65 per contract
$0
Data sources: Charles Schwab and Fidelity
However, both Fidelity and Charles Schwab charge a $49.95 short-term redemption fee if you hold a mutual fund position for less than 60 days (Fidelity) or 90 days (Charles Schwab). In other words, if you buy and then sell within that time frame.
Platforms and tools: Fidelity wins on depth, Schwab on simplicity
I personally use both Fidelity and Charles Schwab, and both have excellent trading platforms. But, I think their strengths are slightly different:
Fidelity offers:
Powerful research tools and screeners
Deep data integrations with third-party research (Morningstar, S&P, etc.)
Active Trader Pro desktop platform
Advanced planning tools for retirement, taxes, and estate planning
Charles Schwab:
Clean, intuitive interface
Excellent mobile app
Robust ETF and mutual fund screeners
Thinkorsim trading platform
To be honest, if you're a long-term, buy-and-hold investor (I am), then you'll really be happy with either Fidelity or Charles Schwab. Real-time trading platforms and market intelligence at your fingertips is nice. But it's overkill for most retail investors.
Trust and support: Two legends with the trophies to prove it
You're in good hands with Fidelity or Charles Schwab. But let's talk accolades…
Fidelity was named Motley Fool Money's Best Stock Broker Overall for 2025, earning a perfect 5 out of 5 star rating from our expert team.
Charles Schwab isn't far behind. It earned a 4.8-star rating and was a finalist in multiple categories. It won our Best Broker for IRAs Award for 2025.
Both firms have great customer support:
24/7 phone and chat support
Local branches nationwide
Extensive educational libraries and tools
SIPC insurance for all brokerage accounts
Both firms are the definition of trustworthy. Fidelity edges ahead slightly in recognition, but Schwab's support and experience are just as impressive.
Final verdict: Schwab vs. Fidelity
At the end of the day, you really can't go wrong with either. I honestly think it's an even tie.
Both brokers offer excellent value, robust tools, and trustworthy support. But depending on your style and goals, one might be a slightly better fit.
Choose Fidelity if you:
Want access to crypto trading, HSAs, or zero-fee index funds
Prefer a deeper research platform and planning tools
Value award-winning customer experience and execution
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2025.
Broker
Best For
Commissions
Learn More
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Low-cost investing with a full-featured platform
$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Full-service investing at every experience level
$0 commission for online U.S. stock and ETFs*. No account fees****.
Honestly speaking, for 99% of investors (especially beginners), Fidelity and Schwab are basically the exact same.
They both offer all the major account types, commission-free trading, great mobile apps, tons of investment options, and great customer support. Whether you're opening your first IRA, building a diversified portfolio, or just want a trustworthy place to park your money, either one will get the job done.
I've tested all kinds of brokers (it's part of my job) and both Fidelity and Schwab are the ones I recommend the most. You can't go wrong with either.
Yes. Fidelity supports Bitcoin, Ethereum, and Litecoin trading through its Fidelity Crypto platform. Schwab does not currently offer direct crypto trading, though you can invest in crypto-related ETFs.
There is no minimum deposit requirement at either Charles Schwab or Fidelity. Some transactions may have a minimum, such as $1 to $5 for fractional share transactions.
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Terms may apply to offers listed on this page.
Charles Schwab is an advertising partner of Motley Fool Money. Joel O'Leary has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Best Buy, Bitcoin, Ethereum, Intuit, and Target. The Motley Fool recommends Charles Schwab and recommends the following options: short December 2025 $95 calls on Charles Schwab. The Motley Fool has a disclosure policy.
Fidelity Disclosure:
Fidelity disclosure Investing involves risk, including risk of loss
* - $0.00 commission applies to online U.S. equity trades and exchange-traded funds (ETFs) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (historically from $0.01 to $0.03 per $1,000 of principal). Other exclusions and conditions may apply. A limited number of ETFs are subject to a transaction-based service fee of $100. See full list at Fidelity.com/commissions. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Institutional® are subject to different commission schedules.
**Fidelity Crypto® is offered by Fidelity Digital Assets®. Investing involves risk, including risk of total loss. Crypto as an asset class is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Crypto may also be more susceptible to market manipulation than securities. Crypto is not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Investors in crypto do not benefit from the same regulatory protections applicable to registered securities. Fidelity Crypto® accounts and custody and trading of crypto in such accounts are provided by Fidelity Digital Asset Services, LLC, which is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business (NMLS ID 1773897). Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC. Neither FBS nor NFS offer crypto as a direct investment nor provide trading or custody services for such assets. Fidelity Crypto and Fidelity Digital Assets are registered service marks of FMR LLC.
***Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request. ****Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
