Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare ChoiceTrade vs Fidelity Investments to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. ChoiceTrade charges $5.00 per stock trade which is $0.05 more than Fidelity Investments which charges customers $4.95 per trade. Looking at trading options, Fidelity Investments's base fee is $4.95 while ChoiceTrade's is $5.00. Each option contract then costs $0.65 at Fidelity Investments and $0.50 at ChoiceTrade. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Both ChoiceTrade and Fidelity Investments support Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, ChoiceTrade trails Fidelity Investments by 12,704.00 total mutual funds, with Fidelity Investments offering 13204 and ChoiceTrade offering 500. And, commission free ETFs deserve a comparison, with Fidelity Investments having the upper hand thanks to its 91 available commission free ETFs compared to ChoiceTrade's offering of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both ChoiceTrade and Fidelity Investments offer virtual trading. For mobile trading, Fidelity Investments offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are available to clients of Fidelity Investments while ChoiceTrade offers customers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, Fidelity Investments was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2017, while ChoiceTrade was rated none of these.
Overall, Fidelity Investments comes out on top with 4.50 stars over ChoiceTrade's 2.00 stars.