Fidelity vs Wells Fargo

Wells Fargo versus Fidelity Investments - which brokerage is better in 2019? Compare IRA/Roth accounts, online investing fees, stock broker mutual fund rates, and differences.

Overview

Investors looking for a good value in brokerage services often consider Fidelity and WellsTrade (Wells Fargo's brokerage arm). Both firms have a variety of financial resources that stretch beyond mere trading. This article will compare the two firms against each other, and see if one can be considered the better choice.

Pricing

Broker Fees	Stock/ETF Commission	Mutual Fund Commission	Options Commission	Maintenance Fee	Annual IRA Fee
Fidelity	$4.95	$49.95	$4.95 + $0.65 per contract	$0	$0
Wellstrade	$5.95	$35	$5.95 + $0.75 per contract	$0*	$0*
Firstrade	$0	$0	$0	$0	$0

Services

Broker Review	Cost	Investment Products	Trading Tools	Customer Service	Research	Overall Rating
Fidelity
Wellstrade
Firstrade

Trading Tools

Fidelity customers can trade on the broker's website using a simple trading ticket that appears in the browsing window. It is not at the bottom of the browser. After clicking on 'Trade' on a security's profile page, the trading ticket appears in the left-hand side of the screen. Customers will also benefit from good charting tools. A graph can be displayed full screen. There are over 20 technical indicators and a few drawing tools. A security's price history can be compared to a stock or index. Fidelity also operates an advanced platform called Active Trader Pro. It does come with frequent trader requirements. Fidelity also is one of the few brokers with an app for Apple TV.

There is no trade bar on the WellsTrade site. Interactive charting is available. A graph has a few more technical indicators than the Fidelity software. It also has a few more style options for how the price action is displayed. Disappointingly, a graph cannot be blown up full screen, nor does the broker provide an advanced platform. There is a portfolio analyzer on the WellsTrade site. It appears as if it's a basic attempt at a desktop platform. Trades cannot be entered on it.

Fidelity wins the first category.

Mobile Trading

Fidelity customers who are too busy to trade on a desktop can simply use the broker's mobile app. It's available for Android, Apple, and Windows Phone 8. There is also a platform for Apple Watch. Many functions can be performed, including transferring funds, paying bills, and placing trades. Customer service can also be contacted. The Fidelity app streams Bloomberg financial news free of charge in HD.

WellsTrade also offers an app. It is available on Apple, Android, and Windows 10 Mobile. The iPhone app seems somewhat slow to load pages. The platform provides current market news and up-to-date account information. Users can also deposit a check and look over a watchlist. Simple charting is available. However, it doesn't display technical studies, comparisons, or events. There is also not any video news on the WellsTrade app.

Fidelity wins here for its free live streaming of business news.

Research and Education

Traders will find an excellent library of research and educational materials on Fidelity's website. Stock reports can be accessed at no cost. The firm maintains webinars, videos, and articles that discuss many investment topics.

While Fidelity has a screener for stocks, WellsTrade strangely does not. The broker does offer many articles by Wells Fargo in pdf format. These cover market news and stock analysis. A stock's profile page also displays recent upgrades and downgrades from equity analysts.

Fidelity wins again.

Commissions and Account Requirements

WellsTrade charges $5.95 for stock and ETF trades. Clients who maintain a premier relationship with Wells Fargo Bank receive a $2 discount. However, this package costs $30 monthly unless a customer maintains a $25,000 bank account balance with Wells Fargo. The $30 fee can also be waived by holding at least $50,000 in combined Wells Fargo and WellsTrade accounts. Option contracts at the firm cost $5.95 plus $0.75 per contract. Using a live representative to complete a trade over the phone is an extra $25.

ETF and stock transactions are assessed a $4.95 commission at Fidelity. Options are an additional 65¢ per contract. The broker charges an extra $25 for executing a trade over the phone with a live agent.

A securities account at WellsTrade can be opened with $0. Fidelity requires a minimum deposit of $2,500. There are no on-going maintenance, inactivity, or annual account fees at either firm.

The lower flat-rate commission schedule at Fidelity gives the broker a victory here.

Fund Trading

Fidelity clients have access to more than 11,500 mutual funds. Approximately 1,800 of these carry no transaction fee and no load. The firm also has a list of 84 ETF's that are commission free. WellsTrade offers slightly more than 10,000 mutual funds. Roughly 2,600 are no-load, no-transaction-fee products. WellsTrade disappoints in the ETF category and doesn't provide any exchange-traded funds that carry no commissions.

Fidelity has more commission-free ETF's, but WellsTrade has more transaction-free mutual funds. Let's call it a draw here.

Customer Service

Fidelity can be contacted by phone or e-mail 24 hours a day, any day of the week. The broker also has on-line chat. Clients who prefer in-person service can find a Fidelity representative at one of the firm's 180 locations throughout the U.S.

WellsTrade customers can talk to an agent over the phone any time of the day. On-line chat does not exist. The broker does not have a network of retail locations like Fidelity does, although it does offer investment advisors for a fee in several U.S. cities.

WellsTrade fails again.