Compare › Fidelity vs Charles Schwab
Fidelity vs Charles Schwab: fees and fine print
Full transfer-out: Fidelity $0 vs Charles Schwab $50; reverse split/mandatory reorg: Fidelity $0 vs Charles Schwab $0; cash rate: Fidelity 3.52% vs Charles Schwab 0.01% APY, per each broker's official pages (checked Oct 30, 2026).
Last updated · 7 official sources (listed below)
The costs that don't show up in "$0 commissions": leaving, reverse splits, tender offers, and what idle cash earns. Every cell links to the broker's own page.
Where they differ
- Full ACATS transfer-out fee: Fidelity $0 vs Charles Schwab $50
- Fractional share trading: Fidelity Yes ($1 min) vs Charles Schwab Yes (Stock Slices, $1 min)
- Rate on uninvested cash: Fidelity 3.52% vs Charles Schwab 0.01% APY
| Fact | Fidelity | Charles Schwab |
|---|---|---|
| Full ACATS transfer-out fee | $0 One 'Transfer of assets' line; no full/partial split. source · Oct 30, 2026 | $50 source · Oct 30, 2026 |
| Partial transfer-out fee | $0 Same single line as full transfers. source · Oct 30, 2026 | $0 source · Oct 30, 2026 |
| Reverse split / mandatory reorg fee | $0 Foreign assets held in USD: 1% of principal. source · Oct 30, 2026 | $0 source · Oct 30, 2026 |
| Fractional shares after a reverse split | Not published | Not published |
| Voluntary reorg / odd-lot tender fee | $0 source · Oct 30, 2026 | $0 source · Oct 30, 2026 |
| DRIP (auto dividend reinvestment) | Yes source · Oct 30, 2026 | Yes source · Oct 30, 2026 |
| Fractional share trading | Yes ($1 min) source · Oct 30, 2026 | Yes (Stock Slices, $1 min) source · Oct 30, 2026 |
| Rate on uninvested cash | 3.52% 7-day yield of the Government Money Market Fund core position (SPAXX). Not an APY; varies daily. source · Oct 30, 2026 | 0.01% APY Bank Sweep / Schwab One Interest (same rate). Money funds such as SWVXX pay more but are not the default. source · Oct 30, 2026 |
Full pages: Fidelity fees · Charles Schwab fees · Fidelity cash rate · Charles Schwab cash rate
Questions
Is it cheaper to leave Fidelity or Charles Schwab?
Full transfer-out: Fidelity $0, Charles Schwab $50 (official fee schedules).
Which pays more on cash, Fidelity or Charles Schwab?
Fidelity: 3.52% (7-day yield of the Government Money Market Fund core position (SPAXX). Not an APY; varies daily). Charles Schwab: 0.01% APY (Bank Sweep / Schwab One Interest (same rate). Money funds such as SWVXX pay more but are not the default).
Sources
- https://www.fidelity.com/page/manage-cash-rising-costs
- https://www.fidelity.com/trading/commissions-margin-rates
- https://www.fidelity.com/trading/fractional-shares
- https://www.schwab.com/cash-investments
- https://www.schwab.com/fractional-shares-stock-slices
- https://www.schwab.com/legal/schwab-pricing-guide-for-individual-investors
- https://www.schwab.com/stocks/dividend-reinvestment-plan
Each source was read on or before Oct 30, 2026. Fees and rates change; confirm on the broker's site before acting.