Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 4,000 data points, let's compare Ally Invest vs Fidelity Investments.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Ally Invest and Fidelity Investments charge the same amount for regular stock trades, $4.95. With options, the base fee is $4.95 for both Ally Invest and Fidelity Investments. Option contracts cost $0.65 each at both brokerages. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Fidelity Investments offers clients Stock Trading, Options Trading and Mutual Funds while Ally Invest offers Stock Trading, Options Trading, Mutual Funds and Forex Trading. Looking at mutual funds, Fidelity Investments trails Ally Invest by 2,218 total mutual funds, with Ally Invest offering 14000 and Fidelity Investments offering 11782.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Neither Ally Invest and Fidelity Investments offer virtual trading. Taking a look at mobile trading, Ally Invest along with Fidelity Investments both support the 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 Ally Invest offers customers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, both Ally Invest and Fidelity Investments received Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading awards.
Overall, between Ally Invest and Fidelity Investments, Fidelity Investments is the winner
Ally Invest Review
Fidelity Investments Review