Comparing brokers side by side is no easy task. For our 2017 Broker Review, we assessed 16 brokers on 308 different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Fidelity Investments vs Firstrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Fidelity Investments and Firstrade charge the same amount for regular stock trades, $4.95. With options, the base fee is $4.95 for both Fidelity Investments and Firstrade. Option contracts at both of the brokerages are the same at $0.65 each. 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 Investments alongside Firstrade offer clients Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity Investments offers its clients access to 13204 different mutual funds while Firstrade has 12191 available funds, a difference of 1,013. Commission free ETFs can also be valuable for customers, with Firstrade falling behind Fidelity Investments, offering 12 commission free ETFs compared to Fidelity Investments's 91.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Fidelity Investments has virtual trading, Firstrade doesn't. Taking a look at mobile trading, Firstrade offers the iPhone App and Android App while Fidelity Investments offers the 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. Clients can have Checking Accounts and Debit Cards at Firstrade while customers at Fidelity Investments can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards. On the whole, when it comes to 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 Firstrade was rated none of these.
Overall, Fidelity Investments boasts 4.50 stars versus Firstrade's 3.50 stars.