Fidelity vs. Edward Jones vs. Schwab and Vanguard
In this comparison, we’ll learn:
• Brokerage and investment-advisory accounts can be opened at Edward Jones, Vanguard, Fidelity, and Charles Schwab.
• Financial planning is available at all four firms as well.
• Only Schwab and Fidelity have adequate software for advanced self-directed trading.
Fidelity vs. Schwab, Edward Jones, and Vanguard Introduction
If you need more than brokerage services, you definitely should consider Edward Jones, Charles Schwab, Vanguard, and Fidelity. These four financial titans deliver banking services, financial planning, investment advice, and more.
Edward Jones vs Vanguard & Co: Compare Fees
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Margin
Rate |
Maintenance
Fee |
Annual IRA
Fee |
|
Charles Schwab
|
$0
|
$49.95 ($0 to sell)
|
12.325%
|
$0
|
$0
|
|
Fidelity
|
$0
|
$49.95
|
12.325%
|
$0
|
$0
|
|
Vanguard
|
$0
|
$20
|
12.25%
|
$20*
|
$20*
|
|
Edward Jones
|
$0
|
$0
|
$0
|
0.50% to 1.50% + $300
|
0.50% to 1.50% + $300
|
Edward Jones vs Charles Schwab & Co: Compare Services
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Visit Schwab Website
Fidelity, Vanguard, and Edward Jones: none
Brokerage and Managed Accounts
The four investment firms in this competition offer both advisory and brokerage accounts. The latter are available only in full-service mode at Edward Jones. This means every brokerage account must be opened through a local financial advisor. At the other three, a brokerage account can be set up either as self-directed or full-service.
Managed accounts are available at all four companies as well. These come in a variety of packages, including robo at Schwab, Vanguard, and Fidelity. All four companies offer wealth-management services for the highest level of assistance.
In their brokerage and advisory accounts, the four companies offer the standard lineup of securities (equities, bonds, and funds). Everyone except Edward Jones provides trading in option contracts. Fidelity has cryptocurrencies, and Schwab delivers futures and forex. Both Schwab and Fidelity customers have access to foreign stock exchanges.
Winner: Draw between Schwab and Fidelity
Cash Management
These four financial leviathans go far beyond investing. Edward Jones has checking and savings accounts that come with 20 times the normal FDIC insurance. Checks and debit cards are available with a variety of other perks, including online bill pay and overdraft coverage.
Fidelity has a similar setup with an FDIC sweep and banking tools and perks. Plus, it has Bloom accounts, which are special brokerage accounts with all sorts of cash-management add-ons that Edward Jones doesn’t offer, such as round ups and cash-back shopping.
Schwab has its own FDIC-insured bank. Through this banking unit, the financial conglomerate offers checking and savings accounts with various bonuses, like unlimited ATM fee refunds worldwide and pledged asset lines.
Vanguard has something called the Cash Plus Account. It pays 4.60% APY on idle cash but doesn’t have any banking tools, like checks or a debit card. It does provide access to brokered CDs and money market funds (the other three firms do as well).
Winner: Pretty close between Schwab and Fidelity
Margin
All four broker-dealers offer margin trading. Ranges on interest rates are as follows:
Edward Jones: 5.75% to 9%*
Schwab: 10.575% to 12.325%*
Fidelity: 10.575% to 12.325%
Vanguard: 10.25% to 12.25%*
*Both Vanguard and Schwab have negotiated rates on margin loans above $500k.
Winner: Edward Jones may look appealing based on interest rates, but without self-directed accounts, we would go with Schwab
Websites
Of the four websites in this contest, Vanguard and Edward Jones are on the simplest level. The Edward Jones site doesn’t even have trading capability. It does provide a lot of account-management tools, though. These include funds transfer, goals and their progress, and links to the associated financial advisor.
Vanguard’s site has trading capability, although charts and the order ticket are rather elementary. A more advanced experience will be found at Schwab and Fidelity, both of whom have advanced order types and really good research tools. The Schwab site has a browser platform for a more sophisticated feel. Features we like include Level II quotes, pro-level order types, and time & sales data.
Winner: Schwab
Mobile Apps
Moving on to mobile trading, we see much the same picture. The Vanguard app actually is more basic than its website cousin. For example, there is no options trading on the app. The Edward Jones app provides no trading at all, being the full service firm it is. A lot of the same account-management tools are there, though.
Fidelity has two apps: one for cash management, and another for trading. The trading app has horizontal charting with more than a hundred technical studies. The order ticket has 8 trade types for equities and 12 option spreads.
Schwab has two apps, and both can be used for trading. Like Fidelity, Schwab manages to throw in lots of technical studies, option spreads, and trade types. And we really like the myriad pre-installed watchlists.
Winner: Schwab
Desktop Platforms
Schwab and Fidelity have desktop programs that bring trading to a very high level. Both of them have live streaming of video news, multiple trade tickets, very sophisticated charting, and resources for options trading. Schwab’s platform is on a little higher level with gadgets for probability analysis and backtesting.
Winner: Schwab
Additional Services
Periodic Mutual Fund Investing: Possible at Schwab, Fidelity, Edward Jones, and Vanguard. Vanguard restricts its service to Vanguard funds. Fidelity and Edward Jones offer the same service for stocks. The latter firm charges 2% per transaction.
Extended-Hours Trading: Post-market trading is available at Vanguard, Schwab, and Fidelity. The latter two also have pre-market trading.
IPOs: Initial Public Offerings can be traded only at Fidelity and Schwab.
Fractional Shares: Vanguard offers whole-dollar trading in Vanguard ETFs. Schwab offers the same for the S&P 500 stocks. Fidelity offers fractional-share trading in most U.S.-listed equities.
DRIP Service: Available at all four.
Fully-Paid Securities Lending Program: Traders at Vanguard, Schwab, and Fidelity can loan out their equity shares to earn extra cash.
IRAs: Individual Retirement Accounts can be opened at all four securities firms. Edward Jones charges annual IRA fees, and Vanguard has fees in some situations on business IRAs.
Winner: Fidelity
Find a Financial Advisor
If you are looking for a professional money management service in your area, you can
find a Financial Advisor on the Wiser Advisor
(or read
Wiser Advisor review).
Visit Wiser Advisor
Recommendations
Active ETF and Stock Trading: Schwab.
Mutual Funds: We suggest Fidelity or Schwab.
Small Accounts: Again, we suggest Fidelity or Schwab.
Beginning Investors: A managed account at any of the four.
Retirement Savers and Long-Term Investors: For self-directed investing, we suggest Schwab.
For full-service investing, Edward Jones, Fidelity, or Schwab.
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Visit Schwab Website
Fidelity, Vanguard, and Edward Jones: none
Verdict
Although Edward Jones specializes in traditional in-person service, Schwab and Fidelity offer the
same—plus a lot more.
Updated on 7/18/2025.
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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