Schwab Vs Fidelity

daverph

Dryer sheet aficionado
Joined
Apr 17, 2006
Messages
31
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
 
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.
 
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.
 
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.
 

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