Compare
Fidelity vs Schwab
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Fidelity leads
- 0
- Schwab leads
- 2
- Level
- 9
Of 11 scored facts, Fidelity leads on 0, Schwab on 2, and 9 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Fidelity |  Schwab |
|---|---|---|
| Fee per contract | $0.65 per contract | $0.65 per contract |
| Fidelity, Buy to close at $0.65 or less costs $0 | Schwab, Additional fees may apply | |
| Exercise and assignment | Free | Free |
| Approval | Naked | Naked |
| Fidelity, Up to naked short options | Schwab, Up to naked short options | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Yes |
| Options on futures | No | YesBest |
| Spreads in an IRA | Yes | Yes |
| Portfolio margin | Not published | Yes |
| Margin rate | 10.63% | 10.63% |
| Platforms | Web, Desktop, Mobile | Web, Desktop, Mobile, APIBest |
| Paper trading | Not published | Yes |
| 24/7 support | Yes | Yes |
| Countries | US residents only | US residents; qualifying countries via Schwab One International |
| QuantWheel | Sync-only | Sync-only |
| Fidelity, Reads the account; you place the orders | Schwab, Reads the account; you place the orders | |
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Fidelity$0.65 per contract · free exercise · naked
Fidelity opens options accounts for residents of the United States only. It charges $0.65 per contract (Buy to close at $0.65 or less costs $0). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Desktop, Mobile. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
Schwab$0.65 per contract · free exercise · naked
Schwab opens options accounts for residents of the United States, the United Kingdom, Germany, Australia, India, Mexico and Brazil, among the 9 countries this directory covers. It charges $0.65 per contract (Additional fees may apply). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- Fidelity$0.72 a trade, 0.6% of your premium
- $66 to $69 a year
- Schwab$0.91 a trade, 0.8% of your premium, fee not published
- $87 a year
at least $18 a year less at Fidelity
Not counted because Schwab does not publish them: options regulatory fee, SEC fee, FINRA trading activity fee, live options quote price.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Fidelity vs Schwab