Schwab Vs Fidelity

[daverph]

For some one who is only going to trade stocks infrequently with large purchases, which of the two would be better? I have used smaller discount firms and was not pleased. I like the other services these two offer but which would be better for my needs. At the moment I really can't see a difference. Thanks.

Dave

 

[brewer12345]

I mostly use Schwab, but have a small fido account as well. I like Schwab, but there isn't really a whole lot of difference, IME.

 

[ziggy29]

Either would be fine, I think. I have Schwab and although I like how much cheaper the trades are now ($12.95 versus $29.95 a couple years ago) and I've been happy with the service, one thing I don't like about Schwab now is that you can't use a sweep money fund unless you have $500K in assets with them. If you don't have $500K, you either need to purchase money funds on your own (with a $2500 minimum) or use their "bank sweep" on cash balances which pays a pretty pathetic yield (around 2.2% last I looked). This alone would probably make me look elsewhere if I were opening a new account, though it's not a big enough deal in my situation to actually close the account and go elsewhere.

 

[CuppaJoe]

My KEOGH is in a Schwab account. I can compare it to American Century which has a better statement, IMO. American Century gives a pie chart to show positions and a line chart to show cost relative to current value, I like that. I don't remember an annual fee with AC but Schwab waives it when the account reaches $100,000.