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 5,000 data points, let's compare ChoiceTrade 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. ChoiceTrade, with its regular stock trades costing $5.00, is more expensive than Fidelity Investments's rate of $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. 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. ChoiceTrade and Fidelity Investments provide clients with Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity Investments offers its clients access to 12505 different mutual funds while ChoiceTrade has 500 available funds, a difference of 12,005. Commission free ETFs can also be valuable for customers, with Fidelity Investments having the upper hand thanks to its 91 available commission free ETFs compared to ChoiceTrade's offering of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both ChoiceTrade and Fidelity Investments offer virtual trading. Taking a look at mobile trading, Fidelity Investments supports the iPhone App, iPad App and Android App while ChoiceTrade supports the none of these. 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 ChoiceTrade offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, Fidelity Investments finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading, while ChoiceTrade came up with none of these.
Overall, Fidelity Investments boasts 4.50 stars versus ChoiceTrade's 2.00 stars.