Fidelity Competitors


Fidelity Investments vs competition: fees, rates, and rankings. Who are top Fidelity competitors? List of largest Fidelity rival companies.



Fidelity vs Competitors: Fees and Services


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
TD Ameritrade $6.95 $49.95 $6.95 + $0.75 per contract $0 $0
Ally Invest $4.95 $9.95 $4.95 + $0.65 per contract $0 $0
Firstrade $0 $0 $0 $0 $0
Fidelity $4.95 $49.95 $4.95 + $0.65 per contract $0 $0
Charles Schwab $4.95 $76 ($0 to sell) $4.95 + $0.65 per contract $0 $0
Etrade $6.95 $19.95 $6.95 + $0.75 per contract $0 $0
Vanguard $7-$20 $8-$35 $20 + $1.00 per contract $20* see

** Vanguard is charging $20 annual maintenance fee (waived if user chooses to receive statements and other information electronically).

Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
TD Ameritrade
Ally Invest
Firstrade
Fidelity
Charles Schwab
Etrade
Vanguard


Fidelity Competitors Intro


While Fidelity is regarded as a great value in brokerage services, it does get a lot of competition. These rival firms include E*Trade, Schwab, TD Ameritrade, Vanguard, Ally Invest, and Firstrade. Let's see how all these firms stack up against each other.


Customer Service


Fidelity offers customer service over the phone 24/7. Of the six rivals in our list, E*Trade, Schwab, and TD Ameritrade also offer phone support around the clock. Firstrade does have representatives on the phone certain hours on the weekend, whereas Vanguard and Ally Invest do not. The Fidelity website also has on-line chat. Schwab, E*Trade, and Ally Invest also provide this useful service. TD Ameritrade has an automated question and answer program, but it's not live chat with an agent.

Fidelity operates a network of branch locations with 180 offices for investors who prefer in-person service. TD Ameritrade also has branches throughout the U.S. with slightly more than 600. Schwab manages 325 locations. E*Trade has just 30 offices, while Vanguard, Firstrade and Ally Invest don't have any.


Mutual Funds and ETF's


Investors at Fidelity have a large selection of mutual funds to trade. The broker provides more than 11,500 products, including 1,800 that carry no transaction fee and no load. By comparison, Vanguard clients have access to over 16,000 mutual funds, of which 2,400 are no-load, no-transaction-fee products. The TD Ameritrade website has more than 11,000 mutual funds. This list includes a pproximately 2,000 that have no load and no transaction fee. E*Trade offers over 8,000 funds. Nearly 1,300 of these come with no transaction fee and no load. Firstrade clients can buy and sell 3,412 mutual funds that are no-load, no-transaction-fee funds. In total, the broker provides over 10,000 funds. The Ally Invest website has more than 8,500 mutual funds. The broker charges no transaction fee if a fund has a load. If a fund does not have a load, there is a $9.95 charge per trade. Schwab rounds out our list with 5,000 mutual funds, a small selection. However, 3,500 have no transaction fee and no load.

Traders who prefer ETF's will find a selection of 91 at Fidelity that are commission free. Vanguard traders can buy and sell 55 ETF's free of charge, although they are only Vanguard funds; whereas Fidelity's selection is a combination of Fidelity and iShares funds. TD Ameritrade provides 296 exchange-traded funds that can be bought and sold without paying a commission. E*Trade offers 188, Firstrade has 12, while Schwab has the most in our list at more than 200. Ally Invest unfortunately doesn't offer any.


Trading Technology


The Fidelity website has a lot of handy features that are easy to use. There are charting, research, and educational tools. Users will find articles and videos that cover many financial topics, ranging from the beginner to advanced levels. There is a basic trading ticket that appears in the left-hand side of the browser. It can be used for order entry, although not charting. The broker provides Active Trader Pro, a sophisticated desktop system for frequent traders. Fidelity also has an app for Apple TV.

Firstrade does not provide an advanced desktop platform for its clients. The firm's intuitive and easy-to-use website has a trade bar. It's a little more sophisticated than Fidelity's version.

Vanguard's website is more difficult to navigate. Several minutes are usually required to find whatever it is you're looking for. Drop-down menus generate pages that oftentimes require more searching. There is a search field at the top of the Vanguard website that helps locate items. Vanguard does not provide a trade bar or a desktop platform.

Ally Invest has lower commissions than Fidelity, and the cost difference is reflected in the broker's website. Nevertheless, the Ally Invest website has a lot of useful information and is fairly easy to use. Drop-down menus make finding your way around the site fairly easy. Fidelity's site does have more information on it compared to the Ally Invest website. A trade bar appears at the bottom of Ally Invest's site. It cannot produce a small chart, although orders can be entered on it. A basic web-based trading system named Ally Invest LIVE is free for all customers. Frequent traders are eligible for a more sophisticated desktop program.

E*Trade's website is intuitive and well designed. Unfortunately, there is no trade bar from this broker. Trades are placed with basic order pages within the browser. A chart can be displayed within the browser or detached into its own window. There is an advanced desktop trading system, but it's only available for active traders.

Unlike Fidelity, TD Ameritrade does not impose any requirements to use its advanced desktop platform. In fact, the broker actually has two trading systems. One is Trade Architect, which is browser-based and the simpler of the two. The other is thinkorswim, which is a desktop program. Thinkorswim has a professional feel to it, includes paper trading, and has 400 technical indicators. For customers who prefer to use the website, the broker offers SnapTicket, which is a trade bar at the bottom of the browsing window. Orders can be placed from it, and a small chart can also be displayed.

Schwab also has a desktop platform. It is called StreetSmart Edge and only requires a $1,000 account balance to use it. A convenient trading bar can be found at the bottom of the browsing window. A medium-sized chart can be displayed from it, although orders must be placed on a web page. The broker's website has excellent drop-down menus, making site navigation quick and easy.


Mobile Platforms


Keeping up with today's fast-past world, all brokers in our survey offer mobile apps free of charge. There are, however, significant differences among them. The Fidelity app, for example, is the only one to offer live streaming of business news in HD. It is courtesy of Bloomberg, and there is no charge to the customer. The Schwab and TD Ameritrade apps also have live streaming of business news free of charge, courtesy of CNBC; although the streams are in standard definition. CNBC also streams in SD on the E*Trade app, but it can only be accessed by active traders.

All brokers, except Ally Invest, offer mobile check deposit. The Vanguard app is the only one to provide several account documents in pdf format. Several of the firms provide a platform for Apple Watch. These include Fidelity, Schwab, E*Trade, and TD Ameritrade. The Fidelity app only has two technical indicators for charting, whereas TD Ameritrade's thinkorswim mobile version has 400.


Alternative Investments


Investors at Fidelity can access not only securities, but also life insurance and annuities. TD Ameritrade clients can buy and sell both futures and forex. These products can be traded on the thinkorswim platform, too. Ally Invest offers forex trading, which takes place on a unique currency platform. And E*Trade provides futures trading.


Our Recommendations

Beginner Investors: we recommend Ally Invest, Fidelity Investments, and TD Ameritrade.

IRA accounts: all of these brokers.

Stocks/ETFs Traders: Firstrade, TD Ameritrade and Ally Invest.

Options Traders: Ally Invest and TD Ameritrade.

Long Term, Passive Investors: all of these brokers.

Mutual Funds Investors: Charles Schwab, Firstrade and TD Ameritrade. Fidelity Investments and Vanguard if investing mostly in their own families of mutual funds. Ally Invest if investing in funds not on NTF list.

Small accounts: Firstrade and Ally Invest.


New Account Promotions

TD Ameritrade: Trade free for 60 days + get up to $600.

Ally Invest: Up to $3,500 cash bonus + commission free trades for new accounts.

Firstrade: $0 commissions + up to $200 in transfer fee rebates.

Charles Schwab: Make $100,000 deposit and get 500 commission-free online equity and options trades.

Fidelity Investments: Get 500 free trades with $100,000+ deposit.

Etrade: At E*TRADE, get $6.95 trades + 65₵ per options contract.



Detailed Brokerage Reviews

Ally Invest (click here),

TD Ameritrade (click here),

Firstrade (click here),

Etrade (click here),

Charles Schwab (click here),

Fidelity Investments (click here),

Vanguard Brokerage (click here).


Fidelity Investments Competitors reviewed by Brokerage-Review.com. Rating: 4.5