Using data from the StockBrokers.com 2014 broker review
, we can compare ChoiceTrade vs Fidelity Investments to determine which broker is better for you. Our database includes thousands of data points on everything from functionality to support. Let's take a closer look at ChoiceTrade and Fidelity Investments.
First we will break down the commission charges of both brokers for placing stock and options trades. Fidelity Investments charges more than ChoiceTrade for placing regular stock trades ($7.95 and $5.00, respectively). Looking at trading options, ChoiceTrade's base fee is $5.00 while Fidelity Investments's is $7.95. Contracts are pricier at Fidelity Investments, costing $0.75 versus $0.15 at ChoiceTrade, a difference of $0.60 per contract. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock brokerage review
page, then click the "Commissions & Fees" tab).
Trading fees aside, having access to trade what you want is also an important consideration. Fidelity Investments provides its clients with Stock Trading, Options Trading and Mutual Funds while ChoiceTrade gives clients access to Stock Trading, Options Trading, Mutual Funds and Forex Trading. As far as mutual funds go, Fidelity Investments boasts an offering of 14391 compared to ChoiceTrade's available funds. And, commission free ETFs deserve a mention, with Fidelity Investments having the upper hand thanks to its 76 available ETFs compared to ChoiceTrade's offering of -1.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. ChoiceTrade offers virtual trading while Fidelity Investments does not. For mobile trading, Fidelity Investments offers the iPhone App, iPad App and Android App while ChoiceTrade offers the iPhone App. Online banking is also used by many clients, and multiple brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are available to clients of Fidelity Investments while ChoiceTrade offers clients none of these. All things considered, when it comes to platform tools, research, and trading via smartphone, Fidelity Investments posted awards for Best in Class Platforms & Tools, Best in Class Research and Best in Class Mobile Trading in 2014, while ChoiceTrade found itself with none of these.
Overall, Fidelity Investments boasts 4.50 stars versus ChoiceTrade's -1.00 stars.