Fidelity vs. Schwab
On core costs, the two are nearly identical: $0 online stock and ETF trades, $0.65 per options contract and no account minimums. The differences show up in fractional share coverage, robo-advisor pricing and extras.
Disclosure: links on this page currently go straight to each provider’s own site, and we don’t earn a commission from them. If we join a provider’s affiliate program later, that will never change which products we include or how we order them. How we make money.
How this page was made: it’s built from each provider’s own terms, rate and fee pages and from regulator sources, all listed at the bottom. We haven’t opened these accounts or products to test them, and we don’t give scores. Every rate shows the day we checked it. Our methodology.
Quick answer
Short answer: on Nov 10, 2026, Fidelity and Schwab both charged $0 for online stock and ETF trades and $0.65 per options contract, with no account minimums. For a robo-advisor on a small balance, Fidelity Go is free under $25,000; Schwab Intelligent Portfolios has no advisory fee but needs $5,000 and holds some cash.
Last updated Rates checked Nov 10, 2026
Key facts at a glance
| Fidelity brokerage account | Schwab brokerage account | |
|---|---|---|
| Online stock and ETF trades | $0 (online US stock and ETF trades) as of Nov 10, 2026 | $0 (online listed stocks and ETFs) as of Nov 10, 2026 |
| Options | $0.65 per contract (online options) as of Nov 10, 2026 | $0.65 per contract (online options) as of Nov 10, 2026 |
| Account minimum | None | $0 (brokerage and IRA) |
| Fractional shares | US stocks and ETFs from $1 | 7,000+ US-listed stocks and ETFs from $1 |
| Mutual funds | $0 for Fidelity funds and no-transaction-fee funds on purchase | $0 on thousands of OneSource funds |
We read Fidelity’s and Schwab’s pricing, fractional share and robo-advisor pages on Nov 10, 2026. We have no affiliate relationship with either firm.
Fidelity brokerage account vs Schwab brokerage account: side-by-side
| Fidelity | Schwab | |
|---|---|---|
| Online stock and ETF trades | $0 (online US stock and ETF trades) as of Nov 10, 2026 | $0 (online listed stocks and ETFs) as of Nov 10, 2026 |
| Options | $0.65 per contract (online options) as of Nov 10, 2026 | $0.65 per contract (online options) as of Nov 10, 2026 |
| Account minimum | None | $0 (brokerage and IRA) |
| Fractional shares | US stocks and ETFs from $1 | 7,000+ US-listed stocks and ETFs from $1 |
| Mutual funds | $0 for Fidelity funds and no-transaction-fee funds on purchase | $0 on thousands of OneSource funds |
| Robo-advisor | Fidelity Go: $0 under $25,000; 0.35% a year at $25,000+ as of Nov 10, 2026 | Intelligent Portfolios: No advisory fee ($5,000 minimum) as of Nov 10, 2026 |
| Broker-assisted trades | Not checked | $25 service charge |
What are the pros and cons?
Fidelity brokerage account: pros
- Fidelity Go free under $25,000, $10 to start
- No minimums to open
Fidelity brokerage account: cons
- Fidelity Go’s 0.35% fee above $25,000
Schwab brokerage account: pros
- No advisory fee on Intelligent Portfolios
- Fractional shares across 7,000+ stocks and ETFs
Schwab brokerage account: cons
- $5,000 robo minimum and a required cash allocation
- $25 broker-assisted trade charge
Which should you choose: Fidelity brokerage account or Schwab brokerage account?
For self-directed investing, either works and costs the same on the trades most beginners make. Choose based on the robo option if you want one, and on which app and branch network you prefer.
Choose Fidelity brokerage account if…
- You want a robo-advisor with a small balance
- You want Fidelity’s fund lineup
Choose Schwab brokerage account if…
- You have $5,000+ for a no-advisory-fee robo
- You want fractional shares in a wide range of individual stocks
Who should skip this
- You only want a target-date or index fund in an IRA. Either firm works; the bigger decision is Roth vs. traditional.
- You need cash soon. Keep it in insured savings.
Frequently asked questions
Is Fidelity or Schwab cheaper?
Do both have fractional shares?
Which robo-advisor is better?
Are accounts at either firm protected?
Do you earn money from either?
Sources
Every source below was opened and read for this page (rates last checked Nov 10, 2026). Providers’ own pages are labeled with the provider’s name; regulator pages are labeled with the agency. Rates and terms change often, so confirm on the provider’s site before you apply.
- Fidelity: Commissions, margin rates and fees (fidelity.com, checked Nov 10, 2026)
- Fidelity: Fractional shares (fidelity.com, checked Nov 10, 2026)
- Fidelity: Fidelity Go overview (fidelity.com, checked Nov 10, 2026)
- Schwab: Pricing (schwab.com, checked Nov 10, 2026)
- Schwab: Fractional shares (Stock Slices) (schwab.com, checked Nov 10, 2026)
- Schwab: Intelligent Portfolios (schwab.com, checked Nov 10, 2026)
- SIPC: What SIPC protects (sipc.org, checked Nov 10, 2026)
Related
Fidelity vs. Vanguard
Both charge nothing for online stock and ETF trades. The gaps are in the smaller fees: options contracts, phone trades, leaving the firm, and Vanguard’s $25 account fee if you skip e-delivery.
best ofBest brokerage accounts for beginners
Most large brokers now charge $0 to trade US stocks and ETFs online, so for a beginner the differences are in minimums, fractional shares, account fees and how easy it is to start small. We read each firm’s own pricing page on Nov 10, 2026.
best ofBest robo-advisors
A robo-advisor builds and rebalances a portfolio for you for an advisory fee, usually a small percentage of your balance each year, plus the expense ratios of the funds it uses. We read each firm’s own page on Nov 10, 2026.