Citibank vs Fidelity, TD Ameritrade, Etrade, Charles Schwab, and Vanguard (2019)


Citibank vs Fidelity and Others - Fees


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Ally Invest $0 $9.95 $0 + $0.50 per contract $0 $0
TD Ameritrade $0 $49.99 $0 + $0.65 per contract $0 $0
Fidelity $0 $49.95 $0 + $0.65 per contract $0 $0
Charles Schwab $0 $49.95 $0 + $0.65 per contract $0 $0
Etrade $0 $19.95 $0 + $0.65 per contract $0 $0
Vanguard $7-$20 $8-$35 $20 + $1.00 per contract $20* $20*
Citibank $19.95 na $19.95 + $0.50 per contract + 0.28% of total $75 ($100) $75 ($100)


Citibank vs Charles Schwab and Others - Services


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


New Account Promotions

Ally Invest: Up to $3,500 cash bonus + $0 commission trades for new accounts.

Open Ally Invest Account

TD Ameritrade: Trade stocks and ETFs for free + get up to $600 bonus.

Open TD Ameritrade Account



Citibank vs TD Ameritrade and Other Competitors


Citibank provides a full-service platform for experienced investors. The firm does not offer discount, self-directed brokerage services like the other firms in this review. Incidentally, the other six companies in the comparison are the six largest discount brokerage houses in the country, that offer self-directed accounts. Self-directed means that you are making investment decisions yourself, the opposite of full-service account, where all or most decision-making is handed over to the company.

Citibank's two main competitors, Fidelity Investments and Vanguard, are known for their own families of mutual funds and ETFs. But through these firms clients can also buy and sell stocks, exchange traded funds, options, bonds, and other investments.

TD Ameritrade, Etrade, and Charles Schwab are the household names, the largest discount brokerage houses in the U.S. The companies are very popular among all investors - from beginners to institutions.


Citibank Investing Account Review


Pricing

There is a huge difference in pricing structure between Citibank and its competition. For stock and ETF trades Citi charges very steep $19.95 commission. The best priced competitors, Ally Invest, TD Ameritrade and Schwab are charging for stocks and ETF's $0 per trade. Vanguard has rates ranging from $0 to $20 per stock or ETF trade (Vanguard's rate depends on account balance).

For mutual funds investors Ally Invest is again the lowest priced broker, charging only $9.95 per online transaction. Etrade is the second cheapest firm and charges $20 per transaction. Other companies have much higher rates: up to $49.95 at Charles Schwab for the same trades.


Ally Invest ETFs Review


Services

TD Ameritrade offers its customers easy access to an online user community, where investors can see what other, more advanced users invest in or trade, create and follow other member's blogs, and interact with like-minded individuals.

Charles Schwab and Fidelity Investments are the best ranking firms in customer service. TD Ameritrade and Ally Invest also got very high scores in this category.

All the companies in this review (except Vanguard and Citibank) created easy-to-use, powerful trading tools that will satisfy most clients. But only TD Ameritrade also offers professional trading platform that are must-have for very active traders as well as for forex and futures trading.

Because TD Ameritrade and Ally Invest created well-designed, intuitive trading screens, offer access to the largest network of local offices (only TD Ameritrade), and provide award-winning customer service, we rated them the Best Entry Level Brokers in 2019.

All firms in this article (except Vanguard and Citibank) do not charge IRA accounts (ROTH, Traditional, self-employed) setup and custodial fees (sometimes also called annual or maintenance fees). Some of these companies don't even charge for closing IRA accounts. There is, however, a fee if you decide to move your IRA or non-IRA account to a different firm.


Recommendations

We do not recommend opening brokerage account at Citibank. The prices are just too high. If you want a managed account Ally Invest now offers No fee Cash-Enhanced Managed Portfolio.

If you would like to have access to professional-level trading platform that day-traders and hedge funds are using, then TD Ameritrade is your broker. It is also great for mutual funds, long-term investors, beginner investors, and for IRA accounts.

Ally Invest is recommended for active investors, and for forex, and options traders. This is great broker for anyone looking for a bargain.

Charles Schwab, Fidelity Investments and Vanguard are highly recommended to anyone who wants to invest mostly in Fidelity's and Vanguard's own families of mutual funds and ETFs.

Etrade is our pick for clients investing mostly in fixed income securities - bonds, Treasuries, CDs, and munis.

Much more information about each company is available in detailed brokerage reviews links to which are in the table above.


New Customer Offers

Ally Invest: Up to $3,500 cash bonus + $0 commission trades for new accounts.

TD Ameritrade: Trade stocks and ETFs for free + get up to $600 bonus.

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

Etrade: Get $2,500 cash bonus when you open an account with $1 million.