| Feature |  Fidelity | Charles Schwab |
|---|---|---|
| Stock & ETF Commission | $0Tie | $0Tie |
| Account Minimum | $0Tie | $0Tie |
| Fractional Shares | Yes ($1 min)✓ Better | Yes ($5 min) |
| Zero-Fee Index Funds | Yes (FZROX, FZILX)✓ Better | No |
| Robo-Advisor | Fidelity Go (free <$25K)Tie | Schwab Intelligent Portfolios (free)Tie |
| Physical Branches | Yes (200+) | Yes (300+)✓ Better |
| Customer Service | 24/7 phone & chatTie | 24/7 phone & chatTie |
| Mobile App Rating | 4.8/5✓ Better | 4.6/5 |
| Research Tools | 5.0/5✓ Better | 4.8/5 |
| Options Commission | $0.65/contractTie | $0.65/contractTie |
| Mutual Funds | 10,000+✓ Better | 4,000+ |
| Retirement Accounts | IRA, Roth, SEP, SIMPLETie | IRA, Roth, SEP, SIMPLETie |
| Crypto Trading | No (ETFs only)Tie | No (ETFs only)Tie |
| International Trading | YesTie | YesTie |
⚖ WiseIQ Verdict: Fidelity Wins
Fidelity wins for most investors due to its zero-expense-ratio index funds (FZROX, FZILX), slightly better research tools, and equivalent customer service. Schwab wins if you want physical branch access or prefer the thinkorswim platform.
Best for Fidelity: Index fund investors who want the lowest expense ratios and best research tools.
Best for Charles Schwab: Investors who want in-person branch support or prefer the thinkorswim trading platform (acquired from TD Ameritrade).
Category Ratings Comparison
Detailed Breakdown
Fees and Commissions
Both Fidelity and Charles Schwab charge $0 commissions on stock and ETF trades — the industry standard since 2019. The key fee differences are in options contracts, mutual fund fees, and account-level charges. See the comparison table above for specifics.
Investment Selection
The breadth of available investments varies between the two brokerages. Both offer stocks, ETFs, and options. Differences in mutual fund availability, cryptocurrency access, and fractional share minimums are highlighted in the comparison table.
Platform and Mobile App
Platform quality is a major differentiator for active traders. Both brokerages offer web and mobile platforms, but the depth of charting tools, research integration, and overall user experience differ. See the category ratings above for a direct comparison.
Who Should Choose Fidelity?
Fidelity wins for most investors due to its zero-expense-ratio index funds (FZROX, FZILX), slightly better research tools, and equivalent customer service. Schwab wins if you want physical branch access or prefer the thinkorswim platform.
Frequently Asked Questions
WiseIQ evaluates brokerages across 6 categories: commissions and fees, investment selection, research and tools, mobile app, customer service, and ease of use. Ratings are based on hands-on testing, fee schedule analysis, and comparison with industry peers. Updated April 2026.