Ameriprise Competitors: Cost
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Margin
Rate |
Maintenance
Fee |
Annual IRA
Fee |
|
Charles Schwab
|
$0
|
$49.95 ($0 to sell)
|
11.825%
|
$0
|
$0
|
|
Fidelity
|
$0
|
$49.95
|
11.825%
|
$0
|
$0
|
|
Vanguard
|
$0
|
$20
|
12%
|
$25*
|
$25*
|
Ameriprise and Competitors: Services
Ameriprise vs. Vanguard, Fidelity, and Schwab Introduction
If you’re looking for a brokerage firm for your next investing account, it’s worth checking out Fidelity, Vanguard, Ameriprise, and Charles Schwab. Here’s the rundown on these four financial powerhouses:
Investing and Trading
Investing accounts in brokerage and managed modes will be found at all four companies in this survey. Online
self-directed accounts will be found at Fidelity, Schwab, and Vanguard. Ameriprise focuses heavily on
advisor-led relationships, although it also supports online trading in brokerage accounts.
On the self-directed side of things, all four broker-dealers provide large lists of tradable products.
Expect to find stocks, options, funds (mutual, exchange-traded, and closed-end), and fixed income at any one of the four. Only Fidelity offers cryptocurrencies, and only Schwab has futures and forex. Ameriprise has the most esoteric offerings, which include private equity, hedge funds, and alternative products. Over-the-counter (OTC) stocks will be found at Schwab, Fidelity, and Ameriprise, while Vanguard is mostly limited to a small group of eligible OTC ADRs. Ameriprise brokerage pricing is commission-based and varies by trade and account type, while zero-commission online trading is widely advertised at the other three, and this issue of course is a major difference.
Advisory accounts with varying fees and minimums are available at all four firms. Human financial planners are available at all four as well, although Vanguard has no branch locations. Robo accounts are available at Schwab, Vanguard, and Fidelity, but not at Ameriprise.
Winner: Tie between Fidelity and Schwab
Cash Management
The financial titans in this contest (with the exception of Vanguard) go well beyond investing with some impressive banking features. Debit cards are available at Fidelity, Ameriprise, and Schwab. Schwab offers unlimited ATM fee rebates worldwide. Fidelity offers ATM reimbursement and worldwide access on eligible accounts. Ameriprise can rebate ATM surcharges as well, although the benefit depends on account status.
At all four firms, FDIC-sweep programs can be used to capture some pretty impressive insurance levels on uninvested cash. And money market mutual funds are available as well. Some of these pay north of 3.35% interest per year.
Winner: Another draw between Fidelity and Schwab
Margin
If trading with leverage is on your radar, the four brokerage firms in this matchup have exactly what
you’re looking for—but not necessarily at the price you’re looking for. Ameriprise’s tiered schedule
ranges from 10% to
13%. Vanguard’s schedule is from
10% to 12%.
Schwab clients pay anywhere from 10.075% to 11.825%.
Fidelity is at 10.075% to 11.825%.
Winner: Schwab and Fidelity
Website Tech
The Vanguard and Ameriprise websites can be used to download statements, place trades, and perform other account functions. A more advanced experience will be found at Fidelity. Its website has multiple trade tickets with some pretty advanced features, like trailing, conditional, and bracket orders. Options have all sorts of advanced tools, like a strategy builder, a probability calculator, and integrated spreads.
Although we do very much like Fidelity’s advanced website, Schwab has something that Fidelity doesn’t: a
web-browser platform. Called thinkorswim, it sits in its own window and delivers some pretty impressive trading tools. These include a stock screener, Level II quotes, and multiple trade tickets. Charts on thinkorswim have technical studies and drawing tools, and a simulated mode makes getting extra practice a breeze.
Without thinkorswim, the Schwab website by itself is quite good. We found advanced scanning tools for options, bonds, stocks, and funds. Conditional orders make appearances, and a great many educational resources can be found as well.
Winner: Schwab
Mobile Apps
Moving to mobile platforms, we find an Ameriprise app with some really nice features. These include watchlists, bill pay, mobile check deposit, connections to other accounts, and a document upload tool. It’s even possible to place equity trades on it. However, there are no advanced trading tools of any kind.
This oversight is solved on the Vanguard app. It’s possible to buy and sell stocks, ETFs, and Vanguard
mutual funds. The order ticket has 4 trade types.
This is a rather small number that is increased on the
thinkorswim app from Schwab. There are 7 order types here, including trail stop and limit on close. Charts on this heavy-duty trading app have hundreds of technical studies and several drawing tools. And Schwab’s main app has resources that are missing on the thinkorswim app. Examples include market news and check deposit.
Fidelity has two apps as well: a main app with trading tools and a Bloom app, which is for cash-management
accounts. The trading app has two modes, classic and Beta. Combined, they deliver a lot of investing brawn.
There are educational materials, watchlists, market news, a Fidelity Assistant, and an advanced
trading ticket with 8 order types and lots of integrated option spreads.
Winner: Small advantage to Schwab
Desktop Software
Vanguard and Ameriprise focus on long-term investment management. As such, they have no desktop software for high-powered trading. But Fidelity and Schwab do, and we really like both platforms.
Schwab’s program once again takes on the thinkorswim moniker. The trading platform delivers a very professional feel with all sorts of advanced tools including a backtesting gadget, an economic calendar, and pairs trading. Live streaming of CNBC is icing on the cake.
Fidelity Trader+ Desktop, previously known as Active Trader Pro, is Fidelity’s desktop system. It, too, has live video news and a lot of great trading tools. Highlights include basket orders, Level II data, alerts, time & sales numbers, watchlists, option chains with strategies, and much more.
Winner: Schwab
Add-on Services
Individual Retirement Accounts: An IRA can be opened at any one of the four investment firms in
this survey. Ameriprise has annual IRA fees, while Vanguard has IRA fees on some business accounts.
Fully-Paid Securities Lending Program: Available at Schwab, Vanguard, and Fidelity.
Extended Hours: After-hours trading is available at Vanguard, Schwab, and Fidelity. The latter two
also have pre-market trading, and Schwab offers overnight trading in a list of ETFs.
Fractional Shares: Vanguard ETFs can be traded in whole dollars at Vanguard. Schwab offers fractions of
stocks and ETFs trading on the U.S. exchanges, and Fidelity customers can trade more than 7,000 stocks and ETFs in whole dollars.
Dividend Reinvestment Plans: DRIP service is on tap at all four firms, although Ameriprise
restricts it to certain account types.
Initial Public Offerings: Primary stock releases are available at Schwab and Fidelity. Ameriprise
customers can buy initial offerings of preferred securities and closed-end funds.
Winner: Pretty close between Schwab and Fidelity
Find a Financial Advisor
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Our Recommendations
Small Accounts: Because of Ameriprise’s steep fees and high account minimums, it’s a no-go for
small accounts. An online brokerage account with any of the three discount firms will work. Fidelity’s
fractional-share service makes it the top pick overall, and Vanguard’s IRA fees for business accounts
make it the least attractive. Fidelity Go, the company’s robo service, has no minimum to open and starts investing once the balance reaches $10.
Long-Term Investors & Retirement Savers: A combination of investment accounts with a financial
planner at Ameriprise, Fidelity, or Schwab.
Beginners: An advisory account with any of the four.
Mutual Funds: Fidelity has the largest number of mutual funds (more than 10,000 at last count). Schwab has the most
commission-free mutual funds.
Frequent Stock Trading: We give the nod to Schwab with thinkorswim.
Ameriprise vs Competitors Outcome
Although Ameriprise is very good for old-fashioned in-person service, it is no match for Fidelity and,
especially, Charles Schwab.
Visit Charles Schwab Website
Visit Schwab Website
Updated on 4/2/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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