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.
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 charge the same amount for regular stock trades, $0. For options trading, both Ally Invest and Fidelity charge the same base fee of $0. Ally Invest's per contract rate of $0.50 is less than Fidelity which charges $0.65. 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 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, Ally Invest boasts an offering of 14000 mutual funds compared to Fidelity's 11782 available funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Ally Invest nor Fidelity offers virtual trading. Taking a look at mobile trading, Both Ally Invest and Fidelity offer clients access to 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 while Ally Invest offers customers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Ally Invest and Fidelity, Fidelity is the winner.
Ally Invest Review