Charles Schwab vs. Fidelity vs. Vanguard: Which Broker Is Right for You?
Review
Updated
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Charles Schwab, Fidelity, and Vanguard are three brokerage greats. Serving millions of account holders, each broker has figured out what its investors are looking for. They each offer a wide range of commission-free investment options and exceptional customer service.
Below, we'll walk you through a head-to-head-(to head) comparison of Charles Schwab, Fidelity, and Vanguard. In addition to looking at prices, we'll check out platforms, perks, and more. By the time you've read through the review, you should have a better sense of which brokerage is right for you.
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Rating
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating
Rating image, 5.0 out of 5 stars.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
| Commissions |
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Commissions |
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Comparing Charles Schwab to Fidelity and Vanguard illustrates how competitive their prices are. The commission schedules of Charles Schwab and Fidelity differ only in terms of mutual funds. Vanguard charges a bit more for options, but less for mutual funds.
Here's a quick snapshot of each of their basic commission schedules.
| Charles Schwab | Fidelity | Vanguard | |
|---|---|---|---|
| Stock & ETF commissions | $0 per trade | $0 per trade | $0 per trade |
| Options commissions | $0 plus $0.65 per contract | $0 plus $0.65 per contract | $0 plus $1 per contract |
| Crypto commissions | Varies, but can exceed 2% or more of investment | 1% spread on the execution price of buy and sell transactions | N/A |
| Mutual fund commissions | $Up to $74.95 (thousands for free) | $49.95 (thousands for free) | $0 online for Vanguard mutual funds and no-transaction-fee (NTF) funds from other companies; up to $20 for others |
| Account transfer fee | $0 | $0 | $0 |
| Account maintenance fee | $0 | $0 |
*Brokerage accounts and mutual fund-only accounts: $25. 403(b) plans: $5/month |
As the table illustrates, Schwab and Fidelity mirror each other in several ways, offering a wide range of investment options. Vanguard is not far behind, although it boasts fewer mutual fund options.
In addition, Charles Schwab clients who wish to trade stocks in 12 foreign markets in seven local currencies can sign up for a Schwab Global Account. There are no account or trade minimums and investors have full access to multi-currency statement reporting.
Using a single account, Fidelity clients can trade international stocks in 25 countries and exchange 16 different currencies. They also gain access to real-time market data and international trading specialists.
Effective April 2022, Vanguard stopped accepting purchases and transfers of most over-the-counter (OTC) securities, leaving Vanguard clients with a small selection of ADRs from which to choose. While that's something, Vanguard's ADR offering is not as robust as its competitors'.
| Charles Schwab | Fidelity | Vanguard | |
|---|---|---|---|
| Stocks and ETFs | Yes | Yes | Yes |
| Fractional shares | Yes | Yes | Vanguard ETFs only |
| Options | Yes | Yes | Yes |
| Mutual funds | Yes, 16,000+ | Yes, 10,000+ | 423 (208 in U.S.; 215 in markets outside the U.S. |
| CDs | Yes | Yes | Yes |
| Bonds | Yes | Yes | Yes |
| Futures | Yes | No | No |
| Crypto | Yes | Yes | No |
| Currencies | Yes | Yes | Yes |
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2025.
| Broker | Best For | Commissions | Learn More |
|---|---|---|---|
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Managing your finances under one roof | $0 for stocks,¹ $0 for options contracts⁴ |
Learn More for SoFi Active Investing
On SoFi Active Investing's Secure Website. |
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Low mutual fund fees. | $0 per trade |
Learn More for J.P. Morgan Self-Directed Investing
On J.P. Morgan Self-Directed Investing's Secure Website. |
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Low fees on stocks, ETFs, crypto, and options | $0 for stocks, ETFs, and options |
Learn More for Robinhood
On Robinhood's Secure Website. |
Vanguard does not offer a credit card; otherwise, the brokers' offerings are nearly identical. While some investors want their stock broker to provide a huge number of options, others seek an easy-to-use interface, low fees on the trades they make, and excellent customer service.
| Charles Schwab | Fidelity | Vanguard | |
|---|---|---|---|
| Taxable brokerage | Yes | Yes | Yes |
| Joint tenant | Yes | Yes | Yes |
| Margin | Yes | Yes | Yes |
| Robo-advisor | Schwab Intelligent Portfolios | Fidelity Go® | Vanguard Digital Advisor® |
| Traditional IRA | Yes | Yes | Yes |
| Roth IRA | Yes | Yes | Yes |
| Other IRA | Rollover IRA, Inherited IRA, SEP IRA, SIMPLE IRA | Rollover IRA, Inherited IRA, SEP- IRA, SIMPLE IRA | Spousal IRA |
| Custodial | Yes | Yes | Yes |
| Checking | Yes | Yes | Yes |
| Savings | Yes | Yes | Yes |
| Credit card | Yes | Yes | No |
Charles Schwab provides all customers -- regardless of trading volume or account balance -- with a top-notch web browser platform, desktop platform, and highly rated mobile apps for Android, iOS, and Windows devices. Schwab customers also have access to StreetSmart Edge, an all-in-one trading tool that gives them unprecedented flexibility, particularly around option trading.
Investors appreciate that the StreetSmartEdge layout is fully customizable, allowing them to place the information that matters most to them front and center. Its All-in-One Trade Ticket enables them to build, edit, and place trade orders for multiple securities from a single menu.
In addition, the TD Ameritrade thinkorswim platform has migrated over to Charles Schwab and remains available for customers who prefer to use it.
Fidelity also provides a web browser trading tool and mobile apps. Like Schwab, it makes its advanced desktop platform available for free to all account holders. The Fidelity Active Trader Pro is also 100% customizable, with features including hundreds of charting tools and real-time news.
Vanguard's trading platform lags behind the others. The good news is that everything an investor needs to buy stocks and ETFs is available directly from the website or mobile app.
The not-so-good news is that the platform will probably leave sophisticated traders wanting more. The simplicity of the interface may be perfect for someone who's only interested in checking their Vanguard investments occasionally. Still, the lack of advanced investing options is unlikely to fulfill the needs of active traders.
Charles Schwab, Fidelity, and Vanguard all rank among our top online brokerages. Deciding which of the three is the better broker for you comes down to determining which features are most important.
For example, Charles Schwab offers a top-notch trading platform appropriate for nearly all investors, from novice to experienced. It also has an extensive network of brick-and-mortar branches for anyone who wants face-to-face guidance. That said, Schwab has the three brokerages' highest mutual fund fee structure.
Schwab and Fidelity are neck and neck in terms of research. However, Fidelity edges ahead in terms of the number of countries in which investors can purchase international shares.
Although Vanguard's interface is not as robust as the others, it's likely to be a great choice for new investors who might otherwise be intimidated by the sheer number of options found on the other two interfaces. After all, investors tend to learn about trading by starting off with the basics, and Vanguard gives them a place to do that.
In short, you can't go wrong with any of these brokers. It's a matter of determining the level of information and number of investment options you want available to you.
At Motley Fool Money, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.
See our full methodology here: Ratings Methodology
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
SoFi Disclosure:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
Value Prop Disclosures
Promotion Disclosures
Vanguard disclosures
Visit vanguard.com to obtain a prospectus or, if available, a summary prospectus, for Vanguard and non-Vanguard funds offered through Vanguard Brokerage Services. The prospectus contains investment objectives, risks, charges, expenses, and other information; read and consider carefully before investing.
Options are a leveraged investment and are not suitable for every investor. Options involve risk, including the possibility that you could lose more money than you invest. Before buying or selling options, you must receive a copy of Characteristics and Risks of Standardized Options issued by OCC. A copy of this booklet is available at theocc.com. It may also be obtained from your broker, any exchange on which options are traded, or by contacting OCC at 125 S. Franklin Street, Suite 1200, Chicago, IL 60606 (888-678-4667 or 888-OPTIONS). The booklet contains information on options issued by OCC. It is intended for educational purposes. No statement in the booklet should be construed as a recommendation to buy or sell a security or to provide investment advice. For further assistance, please call The Options Industry Council (OIC) helpline at 888-OPTIONS or visit optionseducation.org for more information. The OIC can provide you with balanced options education and tools to assist you with your options questions and trading.
Commission-free trading of Vanguard ETFs applies to trades placed both online and by phone. All ETFs are subject to management fees and expenses; refer to each ETF's prospectus for more information. Account service fees may also apply. All ETF sales are subject to a securities transaction fee. See the Vanguard Brokerage Services commission and fee schedules for full details.
Vanguard funds not held in a brokerage account are held by The Vanguard Group, Inc., and are not protected by SIPC. Brokerage assets are held by Vanguard Brokerage Services, a division of Vanguard Marketing Corporation, member FINRA and SIPC.
Vanguard Marketing Corporation, Distributor of the Vanguard Funds
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.
Investing is risky. Bonus offers subject to terms and conditions, visit robinhood.com/hoodweek for more information. Margin is not suitable for all investors. Robinhood Gold is offered through Robinhood Gold LLC and is a subscription offering services for a fee. Brokerage services offered through Robinhood Financial LLC (member SIPC), a registered broker dealer.
Fidelity disclosure
Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $1.00. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00)
J.P Morgan Disclosure
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
