Charles Schwab vs Fidelity
Side by side on the numbers that decide it. The money8020 Score already weighs these — this is the receipts.
CS Charles Schwab Charles Schwab 96/100 | money8020 pick FI Fidelity Fidelity Investments 97/100 | |
|---|---|---|
| Tier | Essential | Essential |
| Stock & ETF commission | $0 | $0 |
| Options | $0.65 | $0 |
| Account minimum | $0 | $0 + contract fee |
| Protection | SIPC | SIPC |
| Annual fee | $0 | $0 |
| Best for | Investors who want a full-service brokerage with $0 stock/ETF trades | Long-term investors who want low costs and deep fund selection |
| View profile | View profile |
Both charge $0 for online stock and ETF trades with no account minimum, and both are excellent. Fidelity edges ahead on low-cost index funds and research depth; Schwab wins on branch access and a fuller banking-and-investing ecosystem. For most investors, either is a top choice — pick on funds and tools, not commissions.
Fidelity and Charles Schwab are the two heavyweight brokerages, and the honest truth is you can’t go wrong with either. Both are verified: we confirmed each one’s $0 stock and ETF commissions and $0 account minimum on the provider’s own pricing page.
The commission story is a tie — $0 for online stock and ETF trades at both, with options carrying a per-contract fee. So the decision comes down to everything else. Fidelity’s lineup of low-cost and zero-expense-ratio index funds, plus its research depth, make it our slight favorite for cost-focused long-term investors. Schwab counters with physical branches, strong phone support, and a tightly integrated banking-and-investing ecosystem.
Neither brokerage account is FDIC-insured — invested assets carry SIPC protection, while cash swept to each firm’s affiliated bank is separately FDIC-insured. Fees can change; this is not financial advice. Confirm current pricing before opening.
Charles Schwab vs Fidelity: FAQ
Do Fidelity and Schwab charge the same for trades?
Effectively, yes. Per each provider, both charge $0 commissions on online US stock and ETF trades with no account minimum. Schwab charges $0.65 per options contract; Fidelity charges $0 plus a per-contract options fee. For ordinary stock and ETF investing, the cost is the same.
Which is better for a beginner?
Both work well. Fidelity's no-expense-ratio index funds and clean fractional-share experience make it a slight favorite for new investors focused on low-cost funds. Schwab's branch network and phone support appeal if you want in-person help. Neither account is FDIC-insured; both carry SIPC protection.