Fidelity vs Charles Schwab (DETAILED COMPARISON)

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  • Опубликовано: 2 янв 2025

Комментарии • 155

  • @markplymale
    @markplymale  3 года назад +14

    This video is strictly covering the web platforms. In another video I’ll compare the apps!
    Who do you prefer between these 2? Be sure to let me know and as always thanks for watching!

    • @iamgrbr
      @iamgrbr 3 года назад +3

      The debit card they both offer are the same. Both reimburse ATM fees and both have the same international transaction fees. They just brand the two accounts differently. In my experience the Fidelity app and website are significantly more user friendly and easier to navigate around.

    • @markplymale
      @markplymale  3 года назад

      @@iamgrbr nice! I have the cash management account but never use it. I just use the brokerage with fidelity and I do like it.

    • @akin242002
      @akin242002 3 года назад +2

      I like to travel, so Schwab for me. However, I can definitely see someone choosing Fidelity if they don't travel and live a very local (city/state) life.

    • @johnhenderson7081
      @johnhenderson7081 2 года назад +1

      I am moving my funds to Charles Schwab from Fidelity as I write. Both are great and would not put one over the other. It is whatever fits your needs. Charles Schwab is the broker that is meeting my needs.

    • @desireelewis1100
      @desireelewis1100 2 года назад

      @@akin242002 what do you mean.. Is Fidelity not available online if you travel?

  • @billywatson9821
    @billywatson9821 18 дней назад +1

    Awesome presentation. I am switching from Vanguard to Fidelity. Thanks!

  • @pooshanv
    @pooshanv Год назад +3

    Thanks for informative and useful video. I use both Fidelity and Charles Schwab, since long time.

  • @JacobCarline-hn1nh
    @JacobCarline-hn1nh 11 месяцев назад +1

    TD Ameritrade is merging with Charles Schwab, adopting thinkorswim. Seeking trade copying like TD Ameritrade's native feature. Need guidance on available options.

  • @lyleodendahl3164
    @lyleodendahl3164 Год назад +2

    I recently moved my accounts from Schwab to Fidelity because Fidelity lets you buy securities and take the funds directly from a designated money market fund. Schwab,on the other hand requires you to move funds from a money market fund a day prior to making the security purchase. That effectively means you have to guess how much to move the day before the stock purchase and you will lose a day’s money market interest in the process.

  • @BestCBDCenter
    @BestCBDCenter 2 года назад +7

    Spend $695 a year for AMEX card and get $100 as long as you invest million $.
    Right that makes no sense even with those silly rewards points.

    • @markplymale
      @markplymale  2 года назад +2

      Well you would actually get $200 for having $1M and the points aren’t silly and are very valuable but it’s ok if you don’t think it’s worth it. Just don’t get it

  • @user-df2uu4tq6d
    @user-df2uu4tq6d Год назад +3

    Great video I’m trying to figure out my move since TD is merging

    • @lkytmryan
      @lkytmryan Год назад

      My account was moved from Tda to Schwab. Schwab doesn’t allow you to drip with certain stocks at a discount stocks like CRF and psec have drip plans that let you drip at NAV or discount.
      I have been told Fidelity does and I’m trying a test run on that.
      Another thing I don’t like about Schwab that I liked about TDA was that TDA allowed you to customize the columns of your view of stocks. I haven’t been able to figure out how to do that with Schwab and it’s just a bit more cumbersome.

  • @JoseAGomez-fw4vg
    @JoseAGomez-fw4vg 2 года назад +3

    Hey mark I want to open a Charles schwab account and notice I can get a new account bonus but only by a referral, do you happen to have one?

  • @tjryan6173
    @tjryan6173 Месяц назад

    great unbiased video.. I use Vanguard from my 403b, and Schwab for my roth IRA. Fidelity has better tech options than Schwab but with the recent data breach with Fidelity, made me look elsewhere

  • @koolbreeze101
    @koolbreeze101 3 года назад +5

    I have both. Charles Schwab just added Zelle no more waiting 5 days for a money transfer.

    • @markplymale
      @markplymale  3 года назад +2

      Great feature!

    • @nubianpwr
      @nubianpwr 3 года назад +2

      Thanks for sharing that👍🏾

  • @ThuggyMacho
    @ThuggyMacho Год назад +4

    I like that Charles Schwab doesn't have a foreign transaction fee unlike Fidelity which matters to me since I travel a lot BUT I'm really looking to leave the banks and move toward Cash Management Accounts so I'm torn.

    • @Troyson04
      @Troyson04 Год назад +1

      I was just thinking that cuz I travel to Philippines every year plus they are with AMEX :)

  • @ExtraGuac007
    @ExtraGuac007 3 года назад +8

    Recently, Charles Schwab started charging a $6.95 fee to trade OTC stocks. Fidelity still offers free trading on OTC stocks.

  • @ThatCho
    @ThatCho 3 года назад +6

    Love CS. it’s the credit cards for me and also the UI.

    • @markplymale
      @markplymale  3 года назад +1

      The CS platinum is a game changer!

  • @shawnmahoney1892
    @shawnmahoney1892 2 года назад +6

    My company used Fidelity to setup and manage our 401K program that made the majority of our blue-collar employees very happy. The accessibility of multiple 401K options and their relative positive performance made my fellow employees very happy. As I began thinking more about retirement, Fidelity offered multiple strategies for prepping my 401K for an eventual rollover. I eventually took a meager pension accumulation and rolled that into my Rollover IRA....all of this was facilitated by Fidelity.....there were a few fees involved but some were eliminated when Fidelity oversaw my direct participation in the rollover keystrokes.

  • @Deplomaplugin
    @Deplomaplugin Год назад +1

    Do Fidelity cash management account still let you pay bills, and the money does not come out to the end of the month in the account?

  • @kevin123497
    @kevin123497 2 года назад +1

    Anyone opinion on schwab roth ira vs fidelity? Which is best?

    • @markplymale
      @markplymale  2 года назад

      Cant go wrong with either! I personally use Schwab

    • @akin242002
      @akin242002 Год назад

      Both are great, but Fidelity core index mutual funds have slightly lower expense ratios and they offer fractional shares for ETFs.
      Schwab is better for automating your investment semi-monthly, dividend investing and tracking, and selling options on SPY.

  • @jameshipp4456
    @jameshipp4456 2 года назад

    Which of these platforms is easier to use, for complex options trades like Iron Condors?

    • @markplymale
      @markplymale  2 года назад +1

      Schwab is better for multi leg options like iron condors

    • @akin242002
      @akin242002 Год назад

      Definitely Schwab for any option trades. Fidelity tries to be overprotective mom when it comes to option trading.

    • @larryarsenault
      @larryarsenault Год назад

      I stay far away from Options, probably because I don't understand beyond Calls very well. Too many factors over all the factors to consider in a simple stock trade. But toi each their own. G.L.

  • @cliff_eastwood
    @cliff_eastwood 2 года назад +2

    Did you ever do the app comparison video? I have Schwab but their app is not really user friendly in my opinion. Was looking to see how Fidelity's app is.

    • @imanilwilliams
      @imanilwilliams Год назад

      Fidelity's app is definately better

    • @lkytmryan
      @lkytmryan Год назад

      What do you find better about Fidelity’s app?

  • @amyhisle5485
    @amyhisle5485 3 года назад +4

    I have Schwab and love it. Thanks for the video

  • @mrderek800
    @mrderek800 Год назад

    @Mark Plymale , has the issue with the fractional share through Charles Schwab changed since you made this video?

    • @rathorrath401
      @rathorrath401 Год назад

      No. I’m in the process of switching to fidelity

  • @kmque3166
    @kmque3166 3 года назад +4

    I prefer Schwab over Fidelity, both are good, tho problematic Fidelity is privately owned. Can’t beat no minimums, no mthly fees if one banks w them + basic credit cards are decent. I like Schwab + Fidelity $1 minimum for their index funds. Both companies have no fees for regular trading now, I prefer them over new fin tech brokerage platforms, cos if one has issues w their money, one can talk to a live person or visit a branch, instead of email or chat support only!

    • @markplymale
      @markplymale  3 года назад +1

      Absolutely man! Really both are fantastic

  • @erickho9973
    @erickho9973 Год назад +3

    Hi Mark. I have been hearing that the Charles Schwab account reimburses ATM fees when used to withdraw money abroad. Does the Fidelity Cash Management Account reimburse all the fees ( bank and foreign transaction fees) as well?

  • @jscofour
    @jscofour 3 года назад +1

    I use Merrill Edge. 🤷‍♂️ but curious about the other two: Fidelity & Schwab

    • @markplymale
      @markplymale  3 года назад

      I’ve heard good things about Merrill!

  • @mikemccabe8015
    @mikemccabe8015 2 года назад +10

    I currently use CS, but I'm looking at switching to Fidelity because of the fractional ETF feature. I wish CS would implement this soon, but with their focus on integrating TD at the moment, I don't see it happening anytime soon.

    • @markplymale
      @markplymale  2 года назад +4

      I seriously wish they would allow fractional shares on ETFs. Would love to truly DCA into SPY with Schwab!

  • @GramsBlood
    @GramsBlood 3 года назад +6

    I’m using Schwab

  • @hobobum1216
    @hobobum1216 2 года назад +3

    Hey Mark found you from your fidelity deposit $50 get $100 video. I'm opening an account with them now - thanks man! One question : Do you know if fidelity charges a fee for buying OTC stocks or penny stocks ?

    • @kiahumphrey6937
      @kiahumphrey6937 Год назад +2

      I believe Fidelity has OTC stocks but CS does not. Thats why I wanted to try Fidelity.

    • @hobobum1216
      @hobobum1216 Год назад

      @@kiahumphrey6937 can confirm fidelity offers no commission OTC trades

  • @TheMarioMen1
    @TheMarioMen1 Год назад +1

    This why was unsure about Fidelity 🤔 If you pause around 10:58 you can read that Fidelity’s “f-prime venture capital” bought shares of that Ultragenyx at something like $3/share, and later bought if for their mutual fund at $41/share!! They could have done it other way around and secured the bag for their customers 😳

  • @precious5937
    @precious5937 2 года назад +4

    Thank you for this video! Can you set automatic dividend reinvestment for ETFs and Indexes on either platform?

    • @markplymale
      @markplymale  2 года назад +2

      Yes! I should have mentioned that!

    • @precious5937
      @precious5937 2 года назад

      @@markplymale Thank you!

  • @nubianpwr
    @nubianpwr 3 года назад +4

    Excellent content, well presented - subscribed👍🏾

  • @dlg5485
    @dlg5485 2 года назад +7

    One issue with the video... a publicly traded bank isn't required to serve the interests of its investors (customers). It is only beholden to its shareholders. With that in mind, a privately owned company may be the more desirable option, since they are only accountable to their customers. Vanguard currently houses my Roth and brokerage accts, but they have gotten worse across the board in recent years, so I am cross shopping Fidelity and Schawb to house those 2 accts. I am leaning toward Fidelity because they also have a very solid HSA, which I will need in the future to roll over my existing employer based HSA. I like to keep things simple, so ideally I'd like to have all of my accts under one roof for ease of management and Fidelity has credible options for all of my acct types.

    • @karlsturzebecher9463
      @karlsturzebecher9463 Год назад

      I am curious on your thoughts @dlg5485 … Would there be concerns of banking under CS when retired and having all accounts under one roof ?

  • @danielclayton7524
    @danielclayton7524 Год назад

    Fidelity

  • @vincentsmith6859
    @vincentsmith6859 3 года назад +6

    This was a great video Mark well done 👍

  • @johnhenderson7081
    @johnhenderson7081 3 года назад +2

    Both are great brokerages and I have both.

  • @robalicea4733
    @robalicea4733 2 года назад +1

    Great comparison video.. Looking into CS checking and brokerage account also the CS Starter Kit with the $101 bonus. Mark, does CS hard pull?

    • @markplymale
      @markplymale  2 года назад +1

      Thanks Rob! Nope no hard pull

  • @frankbradford9616
    @frankbradford9616 Год назад

    SHOCKING… he didn’t mention the Schwab debit card. !!! Please look into it for yourself.

  • @DCGEMINI202
    @DCGEMINI202 3 года назад +2

    My CS platinum card should b coming in the mail today🔥

  • @cdm4593
    @cdm4593 Год назад

    Great job Mark. I will take one of each. 😊

  • @alplymale1978
    @alplymale1978 3 года назад

    Very Good Explaining the difference.

  • @Clovud
    @Clovud 2 года назад

    Does Charles Schwab have dark mode on the web browser

  • @Americanomondays
    @Americanomondays 3 года назад +3

    I opened up a SEP IRA and a Roth IRA with Fidelity in early 2021. My wife’s 403B was through Fidelity so I figured I better learn that platform and have been perfectly happy. BUT now she’s going to be starting a new job soon and they’re retirement is though TIAA. AH! I don’t wan to have to learn a new platform. Ha. Whatever….gotta do it. But yes, perfectly happy with Fidelity.

  • @azan-183
    @azan-183 3 года назад +8

    Great video! I personally prefer Fidelity because the app is so much better, both have very dated looking websites. I'd love to see the app comparison and a video on your personal opinion on which you prefer to do certain types of trading!

    • @markplymale
      @markplymale  3 года назад +2

      Thank you! I will definitely compare the apps in a separate video!

  • @mollyfoxx9417
    @mollyfoxx9417 3 года назад +2

    I like them both!

  • @jacobbonesteel8061
    @jacobbonesteel8061 3 года назад +12

    Great video, the tie breaker for me is the Schwab debit card, I travel internationally semi frequently and some counties like Greece basically require cash purchases. It’s wonderful not having to pull out a large sum of money so you only have to pay the atm fee once.

    • @iamgrbr
      @iamgrbr 3 года назад +2

      The debit card they both offer are the same. Both reimburse ATM fees and both have the same international transaction fees. They just brand the two accounts differently.

    • @markplymale
      @markplymale  3 года назад

      Thanks Jacob!

    • @akin242002
      @akin242002 3 года назад +2

      @@iamgrbr That is incorrect. Fidelity charges a 1% FX fee. Schwab's debit card charges nothing.

    • @ekgram5109
      @ekgram5109 3 года назад +4

      Also, Schwab is better if you're an Amex user and have the Schwab Platinum Card.

  • @jamemee8795
    @jamemee8795 2 года назад +3

    I got them both i personally think Charles S better customer service

    • @larryarsenault
      @larryarsenault Год назад +1

      At Schwab i get to speak with a real person , in the USA, within 3 minutes every time. They've always been polite, easy to talk with, respectful and knowledgeable even when new to the brokerage, i used to call with some of the dumbest questions. I wish ALL businesses had this quality customer service. I've not dealt with Fidelities customer service but I have with two other big name brokerages and when i had smaller amounts in account the service wasn't very good.

  • @zw8682
    @zw8682 3 года назад +2

    I was trying to open a fidelity checking account later last year because they have a $100 bonus when you deposit $50. Sadly, they were not able to verify my identity for both times that I tired. I don't really wanna go through the hustle to call and retrieve my bonus afterwards. I might give it a shot again if the bonus comes around tho.

    • @markplymale
      @markplymale  3 года назад

      That’s frustrating! I would call someone and see if they can help you out. Fidelitys customer service in my experience is excellent

    • @71757097
      @71757097 2 года назад

      I had to call them

  • @ghostmourn
    @ghostmourn Год назад

    Did Schwab inherit the Fractional shape capability from TD? Seems to me TD had that functionality

    • @rathorrath401
      @rathorrath401 Год назад +1

      They only do fractional shares with the stocks on the s&p 500. No etfs, mutual funds, etc.

    • @ghostmourn
      @ghostmourn Год назад

      @@rathorrath401 oh ok, thank you

  • @zanemiracle6121
    @zanemiracle6121 2 года назад +5

    I liked this video a lot! Although to note, Fidelity is NOT a bank, but a brokerage. I'm sure they (the employees) have an interesting time trying to explain the difference depending on what the customer wanted to do. In many regards, it is very similar to one in terms of functions but depending on what you want to accomplish, you will find some very clear differences.

    • @markplymale
      @markplymale  2 года назад +1

      Thanks Zane! I felt dumb continuing to call Fidelity a bank but it rolled off the tongue easier 😅

  • @maritestaylor8458
    @maritestaylor8458 3 года назад +2

    Fab video

  • @crammydavisjr5813
    @crammydavisjr5813 2 года назад +8

    Good breakdown here. I’m with Fidelity, and am very happy with their customer service.
    Thanks for putting this together!

  • @sincere355
    @sincere355 3 года назад +1

    Thanks for the helpful video!

  • @williamhastings4241
    @williamhastings4241 2 года назад +3

    Thank you for the video. I know it has been three months but thought it interesting that you objected to someone making money in their business but it was okay if you had shareholders. I like Schwab and would probably go with them since a merger with TDA is looming. But I want a custodial account for my granddaughter and like that Fidelity offers fractional shares in ETF not just stock. I plan on having a few ETF and just be fully invested as I add to her account. I will do this weekly so she will get a broad cost averaging. Again thank you

    • @markplymale
      @markplymale  2 года назад +1

      I’m not objecting to a business making money. Just pointing out the fact that fidelity is private and Schwab is public for those who weren’t aware of that. I’m glad you liked the video! I’m a huge fan of both brokerages personally and would recommended either to anyone

  • @JohnWickkkkkkkkk
    @JohnWickkkkkkkkk 2 года назад +2

    Schwab is the better than fidelity

    • @markplymale
      @markplymale  2 года назад

      I’m a huge Schwab fan!

    • @akin242002
      @akin242002 2 года назад +1

      Each has it's pros and cons. I lean more towards Schwab due to the travel perks and slightly better customer service.
      Although Fidelity is better for fractional shares into ETFs. If you love ETFs, I can see a strong argument Fidelity.

  • @RadicalAnthropoid
    @RadicalAnthropoid 2 года назад +1

    Stop calling them investment banks, they are brokerages, completely different. Investment banks consult on mergers & acquisitions as well as IPOs.

    • @markplymale
      @markplymale  2 года назад +4

      Ok I’ll stop calling them what I called them in a video I made months ago 😂 just relax man it’ll be ok

  • @lastprophet5969
    @lastprophet5969 3 года назад +3

    Should create a playoff bracket putting all the brokerage firms against one another and in your opinion the one to rule them all 😂. Also another argument is if some things that TD Ameritrade offers that Schwab doesn't going to be added after both combine. Just some food for thought.

    • @lkytmryan
      @lkytmryan Год назад

      Schwab doesn’t offer drip at nav or discount on stocks that offer that like TDA did.I’m testing fidelity and E*trade because I was told they both do. If they do, I will be closing my Schwab account and opening fidelity. Schwab is also heavily into ESG hard to find a company that isn’t from what I can tell E*TRADE is not. If E*Trade let me drip at NAV and the discount, I will be moving to E*TRADE. If not, I will probably move the Fidelity who is also into esg

  • @AutenticoBello
    @AutenticoBello Год назад

    I have Fid... But after this I think CS is better

  • @NicknNick99
    @NicknNick99 3 года назад +7

    Charles Schwab has put multiple trading restrictions on stocks (when it will lose them money, just like Robinhood did with GME), avoid them at all costs.

    • @markplymale
      @markplymale  3 года назад +2

      Didn’t every major brokerage do that? Who do you use?

    • @NicknNick99
      @NicknNick99 3 года назад +2

      @@markplymale I am only allowed to use Fidelity. They also were one of the only ones who didn’t do it. Just too many corrupt banks out there, and too many things that came up with Charles Schwab in the headline, for me to use them (even if I could).

    • @sincere355
      @sincere355 3 года назад

      Thanks for the useful info!

    • @anthonyvu749
      @anthonyvu749 2 года назад

      @@NicknNick99 side note: GME just skyrocketed again

  • @bluerasperries1117
    @bluerasperries1117 2 года назад +5

    This was incredibly thorough. I especially appreciated your relaxed and composed explanation, and the fact that you’ve used both for quite a while. Thank you so much!!

    • @markplymale
      @markplymale  2 года назад +1

      Thank you I hope you found it to be helpful!

  • @swangbaby2615
    @swangbaby2615 6 месяцев назад

    🔥🔥🔥

  • @akin242002
    @akin242002 3 года назад +7

    Team Schwab if you like to travel, long-term invest, and option trade. The other broker for day trading and ETF long-term investing.

  • @peaceful4you408
    @peaceful4you408 2 года назад +3

    Fidelity is way better.

  • @s.g.6180
    @s.g.6180 Год назад

    I have Schwab. I love the comparisons between the two companies.

  • @darkfire6341
    @darkfire6341 2 года назад +1

    I have Schwab

  • @stephaniefythm
    @stephaniefythm Год назад +8

    • @skoopqueen
      @skoopqueen Год назад

      Nice one Stephanie .Any investment tip? I would love to know how you made it this far..

    • @stephaniefythm
      @stephaniefythm Год назад

      Alright so generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with REGINA LOUISE COLLARO an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. She is quite popular for her services so you might have heard of her.
      She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy...So I’ll advise you do get a good Investment advisor for yourself.

    • @skoopqueen
      @skoopqueen Год назад

      Impressive Stephanie! Your investment advisor seems quite skilled. I've come across success stories of individuals enhancing their financial stability through advisors. Could you provide further details about this individual?😊

    • @stephaniefythm
      @stephaniefythm Год назад

      ​@skoopqueen she is easy to find , make a quick research of her on the internet with her name Regina Louise Collaro and leave her a message .She works with anyone independent of their location.

    • @emeldcentor1474
      @emeldcentor1474 Год назад

      I am one of many people who has benefited from investing with Regina Louise Collaro, and you are right. When I lost my work due to COVID in 2020, I had no reason to live, and it will always be a memorable year in my life. I owe Regina my life since she made it feasible for me to live well through passive income. To be very honest, I believe she is an angel who was sent to assist individuals who are through financial hardship.

  • @giovannimazzola4677
    @giovannimazzola4677 3 года назад +3

    You’re the man Mark! Keep making great content.

  • @n8ramirez_
    @n8ramirez_ 3 года назад

    Sweet

  • @juanmorales3251
    @juanmorales3251 3 года назад +1

    Just open my charles schwab account today.

    • @markplymale
      @markplymale  3 года назад

      Awesome I hope you enjoy their services!

  • @shahriazshaon4300
    @shahriazshaon4300 2 года назад

    Fidelity mobile app is richer than Schwab’s. I have both and I feel more comfortable using Fidelity than Schwab. Fidelity research tool is richer.

  • @TomSantinoCorleone
    @TomSantinoCorleone 3 года назад +3

    Vanguard all day 👍💪

    • @markplymale
      @markplymale  3 года назад +2

      They're the best for buy and hold!

    • @NicknNick99
      @NicknNick99 3 года назад

      How is vanguard on fees and accessibility?

    • @akin242002
      @akin242002 3 года назад +1

      After getting to $10k in a retirement account, Vanguard starts to become great. Before then, Vanguard is not beginner friendly like the 2 investing platforms mentioned in this video.

    • @TomSantinoCorleone
      @TomSantinoCorleone 3 года назад

      @@NicknNick99 super easy and good 👍 don’t listen too the guy below you,

  • @MikeHoncho884
    @MikeHoncho884 Год назад

    Thanks for the information I’m soon to retire. I’m looking for a place to automatic deposit my pension check. Still not sure if a money management account would be the proper place to do that or just stick with my credit union and make a transfer from the credit union into a money management account still not sure what to do?? Any ideas??

  • @Openmountain1
    @Openmountain1 Год назад

    I ❤both, so I got both!!!