Fidelity Investments vs Charles Schwab
Compare Fidelity vs Charles Schwab: $0 commissions, zero expense ratio funds, thinkorswim platform, futures trading, 300+ branches, international accounts. Side-by-side comparison.
Quick Answer
Fidelity is the better choice if you're a US-based beginner or retirement investor — zero expense ratio index funds (FZROX, FZILX, FNILX), rejects PFOF for best-in-class execution, fractional shares from $1, and the best IRA offerings in the category. Charles Schwab is the better choice if you want the thinkorswim active trading platform, futures trading, physical branch access (300+ locations), 24/7 customer support, or an international account option (select countries). Fidelity is US-only. Schwab offers international accounts in qualifying countries outside the US.
Fidelity Investments
Fidelity is the top-rated online broker for beginners and retirement investors in 2026 — $0 commissions, zero expense ratio index funds, and industry-leading order execution quality. US only.
Pricing
Free
Key Features
- ✓$0 commission on stocks, ETFs, and options
- ✓Fidelity Trader+ Desktop — rebuilt active trading platform for multi-monitor setups
- ✓Fractional shares from $1 minimum
- ✓Industry-leading price improvement on order execution — rejects payment for order flow
- ✓Zero expense ratio index funds — FZROX, FZILX, FNILX
- ✓Fidelity Go robo-advisor — free under $25,000
Pros
- +NerdWallet Best Investing App 2026 and Best Broker for Beginners 2026 — strongest independent validation in the category
- +Rejects payment for order flow — order execution quality is independently verified as among the best in retail brokerage
- +Zero expense ratio index funds are genuinely rare — no ongoing cost to hold core index positions
- +Best margin rates in the category — 10.575% base rate, lowest published margin rate among major brokers
- +Strongest retirement account offering — IRAs with no annual fees, no closure fees, fractional ETFs
- +Best-in-class research with 20+ third-party providers included free
Cons
- −US only — does not open accounts for non-US residents under any circumstances
- −No paper trading — cannot practice strategies with virtual money unlike Schwab and Interactive Brokers
- −Options interface less intuitive than thinkorswim or Interactive Brokers for advanced options traders
- −Fidelity Trader+ Desktop is newer and less mature than Schwab's thinkorswim
- −Crypto selection limited to 5 coins — narrower than Interactive Brokers or Robinhood
Platforms
Web, iOS, Android, Desktop
Learn more →Charles Schwab
Charles Schwab is the #1 rated online broker of 2026 — thinkorswim active trading platform, 24/7 support, 300+ branches, and $0 commissions. International accounts available in select countries.
Pricing
Free
Key Features
- ✓thinkorswim — professional-grade active trading platform with paper trading, 155+ indicators, and advanced options tools
- ✓$0 commissions on stocks, ETFs, and options
- ✓Paper trading via thinkorswim paperMoney with $100,000 virtual portfolio and real-time data
- ✓24/7 phone and chat customer support
- ✓300+ physical branch locations nationwide
- ✓Schwab Intelligent Portfolios — free robo-advisor with $5,000 minimum
Pros
- +StockBrokers.com #1 Overall broker 2026 — most complete platform evaluated across all categories
- +thinkorswim is the gold standard active trading platform — paper trading, futures, options, forex, and advanced charting all in one free platform
- +24/7 customer support by phone — best support availability in the category
- +300+ physical branches — only major online broker with significant physical presence
- +International account available for non-US residents in qualifying countries — broader reach than Fidelity
- +Futures trading included — Fidelity does not offer futures
Cons
- −$5 minimum for fractional shares — Fidelity requires only $1 minimum
- −Mandatory cash allocation in Schwab Intelligent Portfolios (6-30%) reduces returns vs fully invested robo-advisors
- −No direct crypto offering yet as of June 2026 — Schwab Crypto announced but not yet live. Verify current status at schwab.com before publishing
- −Lower interest rate on uninvested cash than Fidelity
- −thinkorswim has a steep learning curve for beginners
Platforms
Web, iOS, Android, Desktop
Learn more →Real-World Scenarios
You're a US-based beginner or retirement investor
You are investing from within the United States and want low-cost index funds, a great IRA, and a beginner-friendly experience. Long-term wealth building is your focus.
You want thinkorswim and active trading tools
You are an active trader who wants professional-grade charting, technical indicators, paper trading, and futures trading from a platform widely considered the gold standard.
You're outside the US and need an international brokerage account
You live outside the United States and need a brokerage that accepts non-US residents. You want a reputable broker with global availability.