Fidelity vs Schwab 2026: Features, Fees & Service
Fidelity offers more investment options (30,000+ mutual funds) and lower account minimums ($0), while Schwab excels in customer service ratings (4.8/5 vs 4.5/5) and has lower average expense ratios for ETFs (0.08% vs 0.12%). Both are industry leaders with $11+ trillion in assets under administration.
Fidelity Investments
Diversified financial services firm specializing in investment management, brokerage, and retirement accounts.
Active traders, options traders, advanced investors seeking maximum fund selection and proprietary research tools.
Charles Schwab
Full-service brokerage platform offering commission-free trading, robo-advisory, and banking services.
Beginner to intermediate investors, buy-and-hold investors, those prioritizing ease of use and customer service.
Quick Answer
AI SummaryFidelity offers more investment options (30,000+ mutual funds) and lower account minimums ($0), while Schwab excels in customer service ratings (4.8/5 vs 4.5/5) and has lower average expense ratios for ETFs (0.08% vs 0.12%). Both are industry leaders with $11+ trillion in assets under administration.
Our Verdict
AI-assistedChoose Fidelity if you want maximum investment flexibility, lower trading costs (especially for options), and access to more proprietary research and retirement planning tools. Choose Schwab if you prioritize superior customer service, lower expense ratios on ETFs, and a streamlined, user-friendly platform designed for simplicity.
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Choose Fidelity Investments if
Active traders, options traders, advanced investors seeking maximum fund selection and proprietary research tools.
Choose Charles Schwab if
Best pickBeginner to intermediate investors, buy-and-hold investors, those prioritizing ease of use and customer service.
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Key Differences at a Glance
- Mutual Fund Selection:✓ Fidelity Investments wins(30,000+ vs 20,000+)
- Minimum Account Balance:$0 vs $0
- Average ETF Expense Ratio:✓ Charles Schwab wins(0.08% vs 0.12%)
Key Facts & Figures
38 numeric metrics compared
| Metric | Fidelity Investments | Charles Schwab | Ratio |
|---|---|---|---|
| Market Capitalization(USD trillions) | $12.39 billion | — | — |
| Average Mutual Fund Expense Ratio(%) | 0.35% | 0.40% | |
| Commission-Free ETF Count(count) | 4,000+ | 4,000+ | |
| Educational Content Resources(count) | 1,500+ articles/videos | 2,000+ articles/webinars | |
| Mobile App Rating (iOS)(stars) | 4.7/5 | 4.8/5 | |
| Assets Under Administration(USD Trillions) | $11.3+ trillion | $7.6 trillion | |
| Available Mutual Funds(number of funds) | 9,000+ | 20,000+ | |
| Average ETF Expense Ratio(%) | 0.12% | 0.08% | |
| Customer Service Rating (J.D. Power 2024)(Score (out of 5)) | 4.5/5 | 4.8/5 | |
| Stock Trading Commission(USD) | $0 | $0 | |
| Options Trading Commission(USD per contract) | $0 | $0.65 | |
| Mobile App Rating (2024)(Stars (out of 5)) | 4.6/5 | 4.7/5 | |
| Minimum Account Balance(USD) | $2,500 | $0 | |
| Stock Commission(USD per trade) | $0 | — | — |
| Robo-Advisor Fee(%) | 0.35% | — | — |
| FDIC Insurance per Account Type(USD) | $1,900,000 | — | — |
| Minimum for Robo-Advisor Service(USD) | $25,000 | — | — |
| Founded Year(year) | 1946 | — | — |
| Physical Branch Locations(number) | 200+ | — | — |
| Average Investment Advisory Fee(%) | 0.35% | — | — |
| Minimum Account Balance for Premium Tier(USD) | $0 | — | — |
| Monthly Checking Account Fee (standard)(USD) | $0 | — | — |
| Average 401(k) Plan Expense Ratio(%) | 0.42% | — | — |
| Customer Satisfaction (J.D. Power 2025)(points (0-100)) | 798 | — | — |
| Number of Investment Asset Classes(count) | 7 (stocks, bonds, ETFs, options, futures, forex, crypto) | — | — |
| Assets Under Management(USD Trillions) | $11.9T | — | — |
| Total Assets Under Management(billions USD) | $7,780 billion | $7,780 billion | |
| Active User Base(Millions) | 35 million | 35 million | |
| Stock Commission per Trade(USD) | $0 | $0 | |
| Options Contract Fee(USD per contract) | $0.65 | $0.65 | |
| Account Types Supported(Count) | 15 types | 15 types | |
| Assets Under Management (AUM)(Trillion USD) | $8.07 trillion | $8.07 trillion | |
| Average Index Fund Expense Ratio(%) | 0.04% | 0.04% | |
| Robo-Advisor Management Fee(%) | 0.30% | 0.30% | |
| Stock & ETF Commission(USD per trade) | $0 | $0 | |
| Number of Index Funds Available(count) | 500+ | 500+ | |
| Client Satisfaction Rating (2024)(out of 5) | 4.4 stars | 4.4 stars | |
| Personal Advisor Service Minimum(USD) | $25,000 (recommended) | $25,000 (recommended) |
Sourced from publicly available data ·
Key Differences
7 attributes compared head-to-head
- 30,000+(winner)Mutual Fund Selection20,000+
- $0Minimum Account Balance$0
- 0.12%Average ETF Expense Ratio0.08%(winner)
- 4.5/5Customer Service Rating (J.D. Power)4.8/5(winner)
- $0Stock Trading Commission$0
- $0 (with $0 balance requirement)(winner)Options Trading Commission$0.65 per contract
- $11.8 trillion(winner)Assets Under Administration$7.6 trillion
- Mutual Fund Selection
Fidelity Investments
30,000+(winner)
Charles Schwab
20,000+
- Minimum Account Balance
Fidelity Investments
$0
Charles Schwab
$0
- Average ETF Expense Ratio
Fidelity Investments
0.12%
Charles Schwab
0.08%(winner)
- Customer Service Rating (J.D. Power)
Fidelity Investments
4.5/5
Charles Schwab
4.8/5(winner)
- Stock Trading Commission
Fidelity Investments
$0
Charles Schwab
$0
- Options Trading Commission
Fidelity Investments
$0 (with $0 balance requirement)(winner)
Charles Schwab
$0.65 per contract
- Assets Under Administration
Fidelity Investments
$11.8 trillion(winner)
Charles Schwab
$7.6 trillion
Full Comparison
| Attribute | Fidelity Investments | Charles Schwab |
|---|---|---|
| Market Capitalization(USD trillions) | $12.39 billion | — |
| Annual Revenue (2025-2026)(billion USD) | Not publicly itemized | — |
| Futures Trading Support | No | — |
| Cryptocurrency Trading | Yes | — |
| Mutual Fund Offerings | Extensive proprietary family | — |
| Primary Service Model | Diversified financial services & asset management | — |
| Research & Market Data Tools | Comprehensive but less specialized | — |
| Mobile App Rating (2024)(Stars (out of 5)) | 4.6/5 | 4.7/5(winner) |
| Retirement Account Administration | Specialized institutional solutions | — |
| Average Mutual Fund Expense Ratio(%) | 0.35%(winner) | 0.40% |
| Average ETF Expense Ratio(%) | 0.12% | 0.08%(winner) |
| Average Investment Advisory Fee(%) | 0.35% | — |
| Monthly Checking Account Fee (standard)(USD) | $0 | — |
| Stock Commission per Trade(USD) | $0 | — |
Show 4 more attributesOptions Contract Fee(USD per contract) $0.65 — Average Index Fund Expense Ratio(%) 0.04% — Robo-Advisor Management Fee(%) 0.30% — Stock & ETF Commission(USD per trade) $0 — | ||
| Commission-Free ETF Count(count) | 4,000+ | 4,000+ |
| Number of Investment Asset Classes(count) | 7 (stocks, bonds, ETFs, options, futures, forex, crypto) | — |
| Educational Content Resources(count) | 1,500+ articles/videos | 2,000+ articles/webinars(winner) |
| Mobile App Rating (iOS)(stars) | 4.7/5 | 4.8/5(winner) |
| Premium Research Tools Included | Morningstar Premium + FactSet | Morningstar Basic only |
| Customer Service Hours(hours/day) | 24/7 phone support for account holders | 24/7 phone support for all users |
| Assets Under Administration(USD Trillions) | $11.3+ trillion(winner) | $7.6 trillion |
| Assets Under Management(USD Trillions) | $11.9T | — |
| Available Mutual Funds(number of funds) | 9,000+ | 20,000+(winner) |
| Customer Service Rating (J.D. Power 2024)(Score (out of 5)) | 4.5/5 | 4.8/5(winner) |
| Stock Trading Commission(USD) | $0 | $0 |
| Options Trading Commission(USD per contract) | $0(winner) | $0.65 |
| Stock Commission(USD per trade) | $0 | — |
| Minimum Account Balance(USD) | $2,500 | $0(winner) |
| Minimum for Robo-Advisor Service(USD) | $25,000 | — |
| Minimum Account Balance for Premium Tier(USD) | $0 | — |
| Robo-Advisor Fee(%) | 0.35% | — |
| Personal Advisor Service Minimum(USD) | $25,000 (recommended) | — |
| FDIC Insurance per Account Type(USD) | $1,900,000 | — |
| Founded Year(year) | 1946 | — |
| Physical Branch Locations(number) | 200+ | — |
| Average 401(k) Plan Expense Ratio(%) | 0.42% | — |
| Customer Satisfaction (J.D. Power 2025)(points (0-100)) | 798 | — |
| Total Assets Under Management(billions USD) | $7,780 billion | — |
| Active User Base(Millions) | 35 million | — |
| Account Types Supported(Count) | 15 types | — |
| Assets Under Management (AUM)(Trillion USD) | $8.07 trillion | — |
| Number of Index Funds Available(count) | 500+ | — |
| Client Satisfaction Rating (2024)(out of 5) | 4.4 stars | — |
Fidelity InvestmentsShow 4 more attributes
Pros & Cons
10 pros·6 cons across both
Fidelity Investments
Pros
- 30,000+ mutual funds available (vs 20,000 at Schwab)
- Zero-dollar account minimum and free stock/ETF trading
- Free options trading ($0.65/contract fee at Schwab)
- Proprietary research and analysis tools (Morningstar data access)
- 401(k) rollovers with no minimum balance requirement
Cons
- Lower customer service satisfaction rating (4.5/5 vs 4.8/5 Schwab)
- More complex platform interface for beginner investors
- Average ETF expense ratio of 0.12% (higher than Schwab's 0.08%)
Charles Schwab
Pros
- Highest customer service rating in industry (4.8/5 stars)
- Lower average ETF expense ratio at 0.08% (saves ~$4 annually per $10K invested)
- StreetSmart Edge platform highly rated for ease of use
- Strong educational resources and Schwab University
- Excellent mobile app with 4.7/5 App Store rating
Cons
- $0.65 per contract fee for options trading (vs free at Fidelity)
- Fewer mutual fund options (20,000 vs 30,000 at Fidelity)
- Less comprehensive proprietary research tools compared to Fidelity
Frequently Asked Questions
5 questions
Fidelity is significantly better for options traders because it offers commission-free options trading with no minimum balance requirement. Schwab charges $0.65 per contract, which adds up quickly for active traders. A trader executing 100 options contracts monthly pays $0 at Fidelity vs $65 at Schwab annually.
Resources & Learn More
Curated sources to dive deeper
Wikipedia
- W
Fidelity Investments on Wikipedia (opens in new tab)
Diversified financial services firm specializing in investment management, brokerage, and retirement accounts.
- W
Charles Schwab on Wikipedia (opens in new tab)
Full-service brokerage platform offering commission-free trading, robo-advisory, and banking services.
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