Comparing brokers side by side is no easy task. For our 2014 broker review
, we factored in 266 different variables to assess 17 different brokers. So when taking a look at Fidelity Investments vs TradeKing, there is a huge database of information available to us.
To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. Fidelity Investments, with its regular stock trades costing $7.95, is more expensive than TradeKing's rate of $4.95 per trade. For options trading, Fidelity Investments has a base fee of $7.95, and TradeKing a base fee of $4.95. Each contract then costs $0.75 at Fidelity Investments and $0.65 at TradeKing for a difference in price of $0.10 per contract. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any stock broker review
page, then click the "Commissions & Fees" tab).
Next to commission rates, being able to trade the instrument you want is important. TradeKing offers clients Stock Trading, Options Trading, Mutual Funds and Forex Trading while Fidelity Investments offers Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, TradeKing trails Fidelity Investments by 2,524.00 total funds, with Fidelity Investments offering 14391 and TradeKing offering 11867. Commission free ETFs also should not be forgotten, with Fidelity Investments having the upper hand thanks to its 76 available ETFs compared to TradeKing's offering of 0.
Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Fidelity Investments nor TradeKing has virtual trading. Taking a look at mobile trading, TradeKing gives clients access to an iPhone App and Android App while Fidelity Investments has an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are available to clients of Fidelity Investments while TradeKing offers clients none of these. On the whole, when it comes to tools, research, and trading on the go, Fidelity Investments was rated for Best in Class Platforms & Tools, Best in Class Research and Best in Class Mobile Trading in 2014, while TradeKing was rated for none of these.
Overall, Fidelity Investments takes the upper hand with 4.50 stars over TradeKing's 3.50 stars.