Finding the best broker for investors is not an easy task, as it involves balancing several factors such as your experience level, asset choices, trading frequency, and even technical comfort. You can try online broker comparison methods for the products and services offered, and verify trader reviews to avoid choosing the wrong one.
Fidelity Investments is a global financial services firm that offers a comprehensive and wide range of investment products and wealth management services to individuals and institutional investors. It is one of the top U.S. brokerage firms for investing in the stock market. It has $15.0 trillion in assets under administration and 4.5 million daily average trades by customers. Check the Fidelity trading review for 2025 for a detailed analysis.
Charles Schwab is a leading American financial services firm, well-known for its role in investing and providing a comprehensive suite of financial solutions to individuals and institutional investors. Charles Schwab platform features are offered by thinkorswim platform, one of the most powerful and comprehensive trading platforms for technical analysts.
Both Fidelity and Schwab are giants in the brokerage space, offering full-featured platforms, commission-free trading, and strong reputations. A deep comparative analysis will help you determine which might be better for your investment needs.
Charles Schwab vs. Fidelity: Key Differences in 2025
The following is the analysis of Charles Schwab vs. Fidelity comparison on their key features.
| Key differences | Fidelity | Charles Schwab |
| Founded in | 1946 | 1971 |
| Country based | U.S | U.S |
| Account types | ||
| Assets to trade | ||
| Minimum investment | ||
| Platforms | Thinkorswim platform (via TD Ameritrade acquisition) | |
| Mobile app | Available | Available |
| Tools and research | Instructional webinars, articles, and videos. News feed from Bloomberg and the Wall Street Journal | |
| Regulation | FINRA SEC | |
| Customer service |
Trading Platforms & Tools: Which Broker Offers Better Features?
Let us look into Charles Schwab vs. Fidelity trading platform features now. Fidelity offers a suite of trading platforms designed to meet the needs of long-term active traders and retirement-focused individuals.
Charles Schwab offers the most powerful trading tools available at no cost. Compared to the standard web and mobile platforms, thinkorswim remains the standout for serious traders who want total control over trading strategy.
Let us have a comparative analysis of the trading platforms of both brokers in the following:
| Trading platforms | Fidelity | Charles Schwab |
|---|---|---|
| Web platform | Active Trader Pro (ATP) | Thinkorswim (ToS) |
| Mobile app | Simple interface | Powerful and full-featured interface |
| Charting tools | 60+ indicators and drawing tools | 400+ studies and custom scripts |
| Backtesting and Paper trading | Limited availability | Robust backtesting features and full-featured paper trading |
| Suits users | Long-term investors and swing traders | Day traders, active traders, and options specialists |
| Access limitation | $25,000 balance requirement | Free to all Schwab clients |
| Research |
Fidelity’s trading platform is generally ideal for long-term investors who are cost-conscious and value research and stability. Day traders can prefer Charles Schwab’s thinkorswim as a better choice, as they always want deep technical analysis and scripting capabilities.
Fees & Commissions Comparison: Which One Is More Cost-Effective?
In Schwab, generally broker-assisted trades are cheaper at $25 compared to Fidelity’s $32.95. Investing in Schwab will be cost-effective if you want banking features, mutual fund flexibility, and lower broker-assisted trade costs. We find Fidelity is slightly more cost-effective for long-term index-focused investors thanks to zero-expense funds and lower robo-advisor costs.
The table below depicts the brokers’ Fidelity vs. Charles Schwab fees comparison in detail:
| Fees | Fidelity | Charles Schwab |
|---|---|---|
| Trading fees | $0 for US stock, options ETFs, and some mutual funds Options – $0.65 per contract | $0 for stock, stocks ETFs, all ETFs, and 4,300 no-transaction mutual funds Options – $0.65 per contract Mutual funds – $0 Bonds (New Issues) – $0 |
| Account fees/ Platform fees | Non-Fidelity mutual funds – $49.95 for redemption | $0 for all accounts |
| Deposit fees | $0 | Online – $15 Paper – $25 |
| Account transfer out | $0 | $50 |
| Inactivity fee | $0 | $0 |
| Withdrawal fees | $0 | $0 |
| Insufficient funds | $0 | $25 |
| Advisory fee | $0 – under $25,000 Per yr – $25,000 and above | Schwab Intelligent portfolios – $0 Schwab Intelligent Portfolios Premium – $30 per month Schwab Wealth Advisory – Starts at 0.80% |
Which Broker Should You Choose? Best for Stocks, Forex & ETFs
Schwab has the resources you need to trade Forex with thinkorswim platforms and the latest market analysis. Fidelity doesn’t offer real forex tools or a trading platform, as it doesn’t allow currency pairs to trade directly.
| Assets | Fidelity | Charles Schwab |
|---|---|---|
| Stocks | Best for long-term investing, low costs, and flexibility | Best for active traders and technical analysis |
| Forex | Not a good pick for forex as it is not an asset class. It allows only indirect currency exposure via ETFs. | Offers 65 currency pairs with specialized thinkorswim tools |
| ETFs | Best for long-term investing, low costs, and flexibility | Best for active traders and technical analysis |
Conclusion
Both brokers are excellent, with Fidelity excelling in low-cost investing and innovation, while Schwab is good for trading tools and banking integration. Determining which broker suits you better for your investment depends on your investment style, preferred tools, trading psychology, and your financial goals.
If you are a long-term investor, wanting zero-cost mutual funds and using fractional share investments frequently, Fidelity is for you. If you are an active trader who wants platforms like thinkorswim and superior banking with broker integration, Charles Schwab is the best option. Get insights on the 7 best Forex brokers accepting US clients in 2025.
Pro Tip
Choose a broker who offers the right assets you want to invest in a cost-effective way. With the help of our broker finder tool, you can pick a suitable one from our best forex brokers list. If you are a potential investor looking for diversification options, explore more options like stocks, forex, crypto, trading, etc.
