Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, 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. Fidelity Investments, with its regular stock trades costing $4.95, is more expensive than ChoiceTrade's rate of $0 per trade. With options, the base fees charged are $5.00 (ChoiceTrade) and $4.95 (Fidelity Investments). Each option contract then costs $0.65 at Fidelity Investments and $0.15 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. ChoiceTrade supports Stock Trading and Options Trading while Fidelity Investments supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Fidelity Investments boasts an offering of 11782 mutual funds compared to ChoiceTrade's 0 available funds.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. ChoiceTrade offers virtual trading while Fidelity Investments does not. For mobile trading, ChoiceTrade supports the iPhone App and Android App while Fidelity Investments supports the iPhone App, iPad App and Android App. 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 offered by Fidelity Investments while ChoiceTrade offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, both ChoiceTrade and Fidelity Investments received Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading awards.
Overall, between ChoiceTrade and Fidelity Investments, Fidelity Investments is the winner
Fidelity Investments Review