PNC vs Schwab, Vanguard, and Fidelity: Key Takeaways
• Brokerage and managed accounts can be opened at Vanguard, PNC Investments, Schwab, and Fidelity.
• Besides securities, a host of other financial products are available at all four companies.
• $0 online stock and ETF trades are available inside brokerage accounts at all four firms, although other trades and services may carry fees.
PNC vs. Vanguard, Schwab, and Fidelity Introduction
Although PNC is mostly known for its banking services, the financial conglomerate does offer investment services, too. To find out how this program stacks up against the industry’s biggest players, keep reading.
PNC vs Charles Schwab and Others: Fees
| 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*
|
PNC vs Vanguard and Others: Services
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Visit Schwab Website
Investing
The four investment firms in this comparison offer both advisory and brokerage accounts. At PNC, individual brokerage accounts can now be opened online, which is a major improvement over the old setup. PNC also offers $0 commission online stock and ETF trading in self-directed brokerage accounts, although the self-directed digital investing option currently has a $5,000 minimum. Despite its smaller investing footprint, PNC does have a broad lineup of securities. Its self-directed online platform focuses on stocks, ETFs, and mutual funds, while broader PNC Wealth Management brokerage relationships can also include products such as bonds, options, structured products, cash-management solutions, and education-savings solutions. Fidelity, Schwab, and Vanguard also offer large brokerage lineups.
Besides securities, Schwab, Fidelity, and PNC Investments offer a variety of annuities and insurance-related products. The latter may include policies for life insurance and long-term care insurance. Schwab has futures and forex, while Fidelity offers access to crypto through separate Fidelity Crypto arrangements.
Then there are the managed accounts. These come in a variety of flavors, depending on the exact investment theme desired. Fidelity, Schwab, and Vanguard have robo-style or automated advice services. PNC Investments uses a more traditional managed-account approach, including programs such as PNC Directions, which charges a 1% annual fee for its advisory and brokerage services, with fund expenses and other account-service fees added separately.
Winner: Tie between Fidelity and Schwab
Banking
All four brokerage firms in this survey offer cash-management tools of various kinds. Of course, PNC operates the very famous PNC Bank with deposit accounts, credit cards, auto loans, and so much more. Checking and savings accounts can be linked to investing accounts, and brokerage accounts have an FDIC sweep to PNC Bank.
Schwab also operates its own bank. There is an FDIC sweep program in some Schwab arrangements, and investing accounts can be connected to bank accounts. Schwab customers get unlimited ATM fee refunds around the world.
Fidelity offers ATM fee reimbursements through its Cash Management Account, and worldwide ATM access is available. A host of other perks are available, depending on the exact cash account selected. Fidelity also has an FDIC sweep.
Vanguard has the Cash Plus Account. It provides access to Vanguard money market funds and FDIC insurance on swept cash. The current APY changes over time and should be checked on Vanguard’s website.
Winner: Three-way tie among Schwab, PNC, and Fidelity
Websites
Website trading is available at all four broker-dealers. Although $0 online stock and ETF trades can be had when opting for this method, software differs greatly. For example, the Vanguard site is very simple without many sophisticated tools. Schwab’s site, by comparison, has an advanced web-browser platform called thinkorswim. It delivers a lot of useful tools that both beginners and seasoned pros will enjoy.
Fidelity is somewhere between these two extremes. Its website doesn’t have a browser platform, although advanced features are available on the site itself. These include full-screen charts and advanced order capabilities.
Winner: Schwab
Mobile Apps
Up next is mobile software. Not surprisingly, the PNC app has tools for all sorts of cash-management functions. These include bill pay, mobile check deposit, and transfers. Fidelity’s main app and Cash Management Account tools now handle the cash-management role that Fidelity Bloom previously filled. Fidelity Cash Management Account owners can receive ATM-fee reimbursement when using the Fidelity debit card at eligible ATMs.
Schwab also has multiple apps. One of them is a sophisticated trading app. Here, futures and forex can be traded, and there are lots of graphing tools for securities and other assets.
Vanguard’s app is the simplest of the four.
Winner: Schwab
Desktop Platforms
Last, but not least in importance, is desktop trading. Schwab offers thinkorswim in its most advanced form, and Fidelity has Active Trader Pro. Both platforms deliver lots of resources that experienced traders will enjoy. These features include advanced routing and Level II data, and, in the case of thinkorswim only, simulated trading.
Winner: Schwab
Trading on Margin
Brokerage accounts can be enabled for margin trading at all four securities firms in this faceoff. Not
all investment strategies are available, however. Vanguard’s software, for example, does not offer trading in multi-leg option spreads.
Borrowing money does come at a cost. Currently, Schwab and Fidelity use stepped
interest-rate schedules, and Vanguard has a tiered system as well.
Because PNC Investments is a full-service firm, its exact margin rates may depend on the account arrangement and advisor relationship.
Winner: Because Schwab’s software shows margin details on entered ticker symbols, we give it the victory here
Lower-Cost Investing
Wealth management fees charged by financial advisors significantly reduce an investor’s returns over time.
As a lower-cost alternative, investors can
invest in index funds at Charles Schwab with no commissions,
achieving higher long-term returns without paying ongoing advisory fees.
Visit Schwab Website
Add-on Services
The four brokerage houses in this contest offer some recurring or automatic investing features, although eligible investments and account types vary. At Vanguard, recurring and dollar-based investing is strongest in Vanguard mutual funds and Vanguard ETFs rather than individual stocks.
At Fidelity, PNC Investments, and Schwab, it may be possible to participate in certain public offerings, although availability depends on the account and offering.
For extended-hours trading, Fidelity, Vanguard, and Schwab have post-market trading. Fidelity and Schwab supply pre-market trading, too. Schwab also offers 24/5 trading in more than 1,100 stocks and ETFs through thinkorswim, while Fidelity offers crypto trading through a separate crypto platform.
Vanguard, Schwab, and Fidelity offer fractional-share trading of some kind. Fidelity supports fractional trading in U.S. stocks and ETFs; Schwab offers it for stocks and ETFs listed in the U.S. exchanges; and Vanguard’s dollar-based or fractional investing is focused on Vanguard mutual funds and ETFs.
A fully-paid stock lending program is available at Fidelity, Schwab, and Vanguard, although Vanguard requires at least $500,000 in assets held at Vanguard and other eligibility conditions.
Investors at all four securities firms can open Individual Retirement Accounts. Vanguard and PNC have IRA fees in some situations.
Investors at Vanguard, Fidelity, and Schwab can sign up for free Dividend Reinvestment Plans.
Winner: Fidelity
Our Recommendations
For frequent stock trading, we suggest Schwab with its thinkorswim software. Fidelity would also be very good with Active Trader Pro.
For mutual funds, we recommend Fidelity or Schwab.
For long-term investing and retirement planning, brokerage customers should head to Schwab or Fidelity. Advisory customers should pick Schwab, Fidelity, Vanguard, or PNC depending on the type of guidance desired.
For beginners, a managed account at any of the four is suggested.
For small accounts, Fidelity is the top dog.
Judgment
You can’t go wrong with Fidelity or Charles Schwab.
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Visit Schwab Website
Updated on 7/23/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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