Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Fidelity Investments vs Firstrade 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 Firstrade's rate of $2.95 per trade. Looking at trading options, Firstrade's base fee is $2.95 while Fidelity Investments's is $4.95. Each option contract then costs $0.65 at Fidelity Investments and $0.50 at Firstrade. 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. Fidelity Investments and Firstrade provide clients with Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Firstrade boasts an offering of 12603 mutual funds compared to Fidelity Investments's 12505 available funds. And, commission free ETFs deserve a comparison, with Firstrade having the upper hand thanks to its 703 available commission free ETFs compared to Fidelity Investments's offering of 91.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments has virtual trading, Firstrade doesn't. For mobile trading, Fidelity Investments along with Firstrade both support 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 and Debit Cards are offered by Firstrade while Fidelity Investments offers Checking Accounts, Savings Accounts, Debit Cards and Credit Cards. All factors considered, when it comes to platform tools, research, and mobile trading, Fidelity Investments posted awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2018, while Firstrade found itself with none of these.
Overall, Fidelity Investments takes the upper hand with 5.00 stars over Firstrade's 4.00 stars.