What’s your preferred broker? And a note…For ETFs with Fidelity you can’t auto Dollar Cost Average. It’s just better since there’s Fractional Shares and you can buy a fraction. 8:57
One advantage with Schwab is if you travel enough that an Amex platinum card makes sense. You can get the Schwab platinum card and have your Amex points get deposited as money into your investment account
I have both accounts. The other difference between the two is that Fidelity's cash position has three options, so uninvested cash is automatically invested in the money market fund, while Schwab does not have such a feature. Cash uninvested in Schwab has a 0.45% interest rate at Schwab Bank vs. 4.45% interest rate at Fidelity Money Market fund, so there is now a big difference in interest rates for cash positions. But you can buy manually Schwab money market fund that Schwab said. I like both of them.
I'm brand new to trading, and so I paid for a service with good reviews that teaches me how to trade both stocks and options. I went with Fidelity and have been happy with them for the most part, however; when I applied to trade options I was denied, due to not enough trading experience. I know I don't have a lot of treating experience that's why I paid for service to teach me how. But I can't learn how if they won't let me trade options. The kicker of it all was the customer service person couldn't even tell me what the criteria was that I needed to have in order to get approved to trade options. So currently very frustrated with Fidelity over lack of being able to trade options. Going to contact Charles Schwab see if they will let me trade options before I set up an account and transfer funds to it.
Fidelity automatically puts cash into high yield MMF. Schwab does NOT. It is actually HUGE in case you are trading with your savings and want to get interest while you wait for trades
I just switched everything from Schwab and Ally to Fidelity. I use brokerage as a HYSA account with their high yield rate and I also buy TBIL ETF for even higher yield for emergency fund.
Schwab, Interactive Brokers, ETrade, and TD all joined Robinhood in restricting trades during the GME fiasco a couple years ago. I'm sticking with Fidelity.
We have been active with all three. We prefer Fidelity with their wide range of products and services. Just a couple off limitations on their option trading platform but not a big deal.
schwab dotn do fractional share with etf but u can auto reinvest dividend with etf which is buying fractional share, thye should just make it full fractional share with etfs
I like Schwab a little bit more. However, Fidelity has an edge for taxable brokerage accounts due to fractional share purchasing ability for all ETFs and stocks.
im looking to open a charles schwab account so i can get the schwab amex platnium and then use my points for 1.1cpp. i currently have a roth ira with fidelity, can i transfer my roth ira from fidelity to charles schwab and can i contribute my amex points for 1.1 cpp into the roth ira?
It's important to note, that while these accounts may be insured up to a limit by FDIC and such, in the case of a wide spread financial meltdown, there is no way they could cover all those loses. FDIC would have enough cash to cover about 3% of the total amounts they insure.
Just wondering if anyone knows, if I have 2 brokerage accounts with 2 different brokerages, is each account insured up to $500k? I have $400k in an account and I’m thinking of getting Charles Schwab just to increase sipc coverage.
Why is fidelity annoying with settlement. Buy stock and settlement in a day. Sell said stock, settlement in a day…. You cannot then buy another stock until Wednesday. Wtf - nobody else is like this
I think Fidelity won. I've been leaning towards Fidelity. What is attractive about CS is the aquisition of TDI Ameritrade and the Think or Swim platform. It would be great if Fidelity offered something like that but you can't have everything. However, it seems to be the clear winner.
Oh man that was perfect… this shed so much light. My whole purpose is to get an account so I can invest in VOO for the long term and I can do that with Fidelity. That settles it I know who I’m going with now.
Schwab makes its money on the trading sweep accounts 0.45% yield instead of being able to sweep it automatically into a money market fund 4.5 % that will cost you thousands of dollars a year
What’s your preferred broker? And a note…For ETFs with Fidelity you can’t auto Dollar Cost Average. It’s just better since there’s Fractional Shares and you can buy a fraction. 8:57
Fidelity does NOT care about their retail investors and will close your account at will. Do NOT invest a dime with those crooks
Fidelity has a much higher yield on their idle cash accounts which I really like
I have them both. Both are excellent brokerages in my opinion. Had a very hard time ditching one, so I keep both and using them both.
I'm interested in using both as well. One for an IRA and one for an investment account. What do you use each for if you don't mind me asking?
One advantage with Schwab is if you travel enough that an Amex platinum card makes sense. You can get the Schwab platinum card and have your Amex points get deposited as money into your investment account
almost nowhere outside the US will take Amex save a few major retailers/supermarkets
I have both accounts. The other difference between the two is that Fidelity's cash position has three options, so uninvested cash is automatically invested in the money market fund, while Schwab does not have such a feature. Cash uninvested in Schwab has a 0.45% interest rate at Schwab Bank vs. 4.45% interest rate at Fidelity Money Market fund, so there is now a big difference in interest rates for cash positions. But you can buy manually Schwab money market fund that Schwab said. I like both of them.
Can you tell me if there are any transaction fees for buying or selling a Schwab money market fund?
@@paulheiting6484 there are not
@@paulheiting6484there is no transaction fees for buying any one of Schwabs money market mutual funds.
@@paulheiting6484 no.
Find the 8 Best Fidelity Index Funds in this video! ua-cam.com/video/FmL_kAxi34Y/v-deo.html
I have schwab but you can't go wrong with fidelity. I have an account with fidelity for my employer sponsored 401k
I'm brand new to trading, and so I paid for a service with good reviews that teaches me how to trade both stocks and options. I went with Fidelity and have been happy with them for the most part, however; when I applied to trade options I was denied, due to not enough trading experience. I know I don't have a lot of treating experience that's why I paid for service to teach me how. But I can't learn how if they won't let me trade options. The kicker of it all was the customer service person couldn't even tell me what the criteria was that I needed to have in order to get approved to trade options. So currently very frustrated with Fidelity over lack of being able to trade options. Going to contact Charles Schwab see if they will let me trade options before I set up an account and transfer funds to it.
Fidelity automatically puts cash into high yield MMF. Schwab does NOT. It is actually HUGE in case you are trading with your savings and want to get interest while you wait for trades
I just switched everything from Schwab and Ally to Fidelity. I use brokerage as a HYSA account with their high yield rate and I also buy TBIL ETF for even higher yield for emergency fund.
I just wanted to see the interfaces so I can see the UI and functionality of each.
Schwab needs to allow ETF fraction shares
Yeah this is a big loss compared to Fidelity
Schwab, Interactive Brokers, ETrade, and TD all joined Robinhood in restricting trades during the GME fiasco a couple years ago.
I'm sticking with Fidelity.
I find Schwab’s user experience to be better for me
We have been active with all three. We prefer Fidelity with their wide range of products and services. Just a couple off limitations on their option trading platform but not a big deal.
Great video as usual! Have been with Fidelity a long time.
Very flexible and helpful.
What's your opinion on M1 Finance?
I will take them over Vanguard in a heartbeat.
I have both and I love both. I’m very happy with both companies and what each have to offer.
I am actually considering both one for IRA and one for investment accounts. What do you use each for if you don't mind me asking?
schwab dotn do fractional share with etf but u can auto reinvest dividend with etf which is buying fractional share, thye should just make it full fractional share with etfs
I like Schwab a little bit more. However, Fidelity has an edge for taxable brokerage accounts due to fractional share purchasing ability for all ETFs and stocks.
Schwab also has fractional
@@maxmaxed2887 not etfs. I wish you could buy fractional etfs with Schwab
im looking to open a charles schwab account so i can get the schwab amex platnium and then use my points for 1.1cpp.
i currently have a roth ira with fidelity, can i transfer my roth ira from fidelity to charles schwab and can i contribute my amex points for 1.1 cpp into the roth ira?
I have been happy with fidelity so far. The only downside is they don’t have automatic investing with ETFs.
Hi John ya true. I think M1 Finance may be the only one I’ve seen who can do that.
@@RobbieMoneyRobinhood has it too!
M1 Finance, SoFi, Webull, Robinhood, and now E*Trade have automatic ETF investing.
They have this now
@@MarkJosephGuitar I didn’t know they changed it! Thanks!
Is the Charles schwab wealth management worth the .80 points? Thanks
It's important to note, that while these accounts may be insured up to a limit by FDIC and such, in the case of a wide spread financial meltdown, there is no way they could cover all those loses. FDIC would have enough cash to cover about 3% of the total amounts they insure.
The government can decide to garentee any dollar value they want, they just can't garentee the value of that dollar.
They are insured by SIPC mainly
In the case of a wide spread financial meltdown the stocks wouldn’t be worth anything anyway. The dollar wouldn’t be worth much either.
@@user-zo2ge3oe8d then how should one diversify? buy gold?
Bro your explanation is good but you talk very fast bro talk at maximum speed 😊👍
Adjust the speed in UA-cam. There are many options you can choose from
Just wondering if anyone knows, if I have 2 brokerage accounts with 2 different brokerages, is each account insured up to $500k? I have $400k in an account and I’m thinking of getting Charles Schwab just to increase sipc coverage.
Yes, because they are at two different brokerages.
Hey Robbie Is it possible for you to do a review on Public brokerage.?
Why is fidelity annoying with settlement. Buy stock and settlement in a day. Sell said stock, settlement in a day…. You cannot then buy another stock until Wednesday. Wtf - nobody else is like this
That dividend distribution only being once a year surprised me…
fidelity you can buy back short options positions with a premium of less than 65c for free.
Schwab also has Zelle now.
I don't need Zelle...lol
I think Fidelity won. I've been leaning towards Fidelity. What is attractive about CS is the aquisition of TDI Ameritrade and the Think or Swim platform. It would be great if Fidelity offered something like that but you can't have everything. However, it seems to be the clear winner.
ToS by far superior if you invest in options or do technical analysis.
How do we keep our money safe away from the stock market?
Id be pissed if I asked a question and got a like instead. Wont be subscribing here.
fidelity it the best in my opinion
Yea but why?
Because we said so...lol@@imanilwilliams
Oh man that was perfect… this shed so much light. My whole purpose is to get an account so I can invest in VOO for the long term and I can do that with Fidelity. That settles it I know who I’m going with now.
Hi @23kingkj make sure to check the pinned comment about dollar cost averaging and ETFs with Fidelity. Thanks for watching 🙂
Fidelity’s tax loss harvesting is excellent
The only thing that Fidelity lacks is Zelle. That is it. Everything else is superior by far.
Schwab definitely.
Fidelity is too left
Can you elaborate?
@@IsaacBrinkman No he can't, stupid comment.
Schwab makes its money on the trading sweep accounts 0.45% yield instead of being able to sweep it automatically into a money market fund 4.5 % that will cost you thousands of dollars a year
If you keep 100,000 plus in cash...
Fidelity hands down all day and night.
What about Jp Morgan chase?
Neither. M1 Finance 🤑
Vanguard baby!
Not even close
Def not
They are increasing their fees starting July 1st, 2024. I may switch to Fidelity.
Vanguard is terrible. Don't ever go with them.
Which would you recommend for a solo 401K?