TIAA vs. Fidelity
Highlights:
• Fidelity, Schwab, and TIAA offer investment accounts in multiple formats.
• Investment advice and financial planning are available at all three companies.
• Schwab and Fidelity have pro-level software.
Are you in the hunt for investing services? If so, you really need to take a look at Charles Schwab, TIAA, and Fidelity. One of them just may have what you seek.
Prices
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
|
Charles Schwab
|
$0
|
$49.95 ($0 to sell)
|
$0.65 per contract
|
$0
|
$0
|
|
Fidelity
|
$0
|
$49.95
|
$0.65 per contract
|
$0
|
$0
|
|
TIAA
|
$0
|
$50
|
$0 per contract
|
$0
|
$0
|
Services
Promotions
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Fidelity: No promotions right now.
TIAA: none right now.
Trading and Investing
With a brokerage account at any one of the three investment firms in this matchup, a lineup of
asset classes can be traded. The assortment includes annuities, bonds and other fixed-income
vehicles, stocks, mutual funds, ETFs, closed-end funds, and options. Schwab goes a little further
by introducing forex and futures to the picture. Fidelity doesn’t offer trading in futures or forex but it does have cryptocurrencies (Bitcoin, Litecoin, and Ethereum). Global stock exchanges are available at both Fidelity and Schwab.
The above menu is strictly for brokerage accounts. All three firms also have advisory accounts in multiple flavors. Schwab and Fidelity have robo accounts, including hybrid human-robo programs. TIAA no longer offers automated investing, but like Fidelity and Schwab, it does have traditional managed accounts. All three companies have branch locations to help deliver these old-school advisory programs, although some of them can be opened online.
Winner: Schwab and Fidelity are pretty close here
Mobile Apps
TIAA customers get to use a simple mobile app, and we do emphasize simple. Charts have no tools, and there is only one plot style (line). The same rudimentary order form we found on the website appears again.
For a higher level of trading, there is the thinkorswim app from Charles Schwab. It has a very advanced order ticket with the same features we found on thinkorswim web. And futures and forex can be traded this time. Schwab has a regular app, which comes with all sorts of great features, including an artificial intelligence.
Fidelity only has one app, although it manages to pack in quite a few great features. There are discrete order tickets for options, mutual funds, and stocks, and charts come with a long list of technical studies, including moving average cross and pivot points.
Winner: Schwab
Websites
TIAA’s website has alerts, multiple watchlists, and a decent amount of market news. The trade ticket has just 4 order types (market, limit, stop, and stop limit), and there is no choice for sell short. Charts are even worse with no full-screen mode. There are some tools, though, such as company events and a handful of technical indicators.
Moving to Fidelity, the situation improves dramatically. A chart can be displayed the full width of the monitor, and the trade ticket is even better. Available orders include trailing and conditional. And we really like the option tools, which include some really advanced gadgets, like OptionsPlay and an excellent strategy builder.
The one feature missing on Fidelity’s website is a browser platform. This oversight is solved at Schwab with thinkorswim. The web platform delivers a very advanced order ticket with several trade types, including “first triggers sequential” and “blast all.” thinkorswim also offers practice trading, which is not possible at the other two firms in this survey. Schwab’s website proper has even more great resources, including very good stock research.
Winner: Schwab
Desktop Programs
The website is the end of the line for TIAA investors. Not so at Schwab and Fidelity. Both firms have desktop programs that can please the most demanding of traders. Schwab once again has thinkorswim, while Fidelity boasts Active Trader Pro. Both programs are on a high level with advanced tools of many kinds. thinkorswim has more features plus a simulated-trading mode that ATP doesn’t have.
Winner: Schwab
Margin Services
Brokerage accounts at all three securities firms can be set up for margin trading. This useful
service permits spread trading, shorting, and buying with borrowed money. For this privilege, TIAA
charges 10.875% to 9.875%.
Fidelity customers have to pay between 12.075% and
8.75%. Schwab’s tiered system starts at
12.075% and ends at 10.325% with negotiated rates above $500,000.
Winner: Fidelity and Schwab are very close here
Further Services
Automatic Mutual Fund Purchases: TIAA, Fidelity, and Schwab have tools for brokerage customers to establish recurring purchases of mutual funds. At Schwab, it’s possible to set up sales, too. Fidelity offers systematic purchases of stocks and ETFs.
Extended Hours Trading: Only at Fidelity and Schwab. Cryptos at Fidelity trade 24/7, and futures and forex at Schwab almost do. Foreign stock exchanges help to expand the nonstop menu.
Initial Public Offerings: At Fidelity and Schwab, new stocks can be purchased before they hit the secondary market.
Fractional Shares: Whole dollars can be used to purchase stocks at all three brokerage firms. TIAA and Fidelity offer the same for ETFs.
IRA Service: A retirement account can be opened at any investment firm in this three-way comparison. TIAA does have a steep $130 IRA termination fee that won’t be found at either Fidelity or Schwab.
DRIP Service: Dividends can be set up to automatically reinvest inside a brokerage account at any of the three.
Fully Paid Securities Lending: Schwab and Fidelity have it.
Winner: Another tie between Fidelity and Schwab
Recommendations
Beginners: We propose an investment-advisory account at any one of the three firms presented here. A human advisor somewhere in the mix would be even better.
Retirement Planning & Long-Term Investing: Ditto.
Mutual Funds: With TIAA’s fund screener, we found 13,192 mutual funds. At Fidelity, we found slightly more than 9,000. Schwab has north of 5,000. Schwab has the best fund screener and fund tools. Take your pick.
Small Investors: For a retirement account, we suggest Fidelity or Schwab. For a robo account, Fidelity. For a taxable account, any of the three.
Frequent Stock & ETF Trading: We defend Schwab with their great software.
Promotions
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Fidelity: No promotions right now.
TIAA: none right now.
Fidelity vs. TIAA Judgment
TIAA offers investment accounts, but the company’s trading service doesn’t quite measure up to what Fidelity and Schwab customers get.
Updated on 12/10/2025.
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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