Comparing brokers side by side is no easy task. For our 2017 Broker Review
, we factored in 308 different variables to assess 16 different brokers. So when taking a look at Fidelity Investments vs Firstrade, there is a huge database of information available to us.
To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. Fidelity Investments and Firstrade charge the same amount for regular stock trades, $4.95. For options trading, both Fidelity Investments and Firstrade charge the same base fee of $4.95. Contracts cost $0.65 each at both brokerages. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review
page, then scroll to the "Commissions Notes" section).
Next to commission rates, being able to trade the instrument you want is important. Fidelity Investments alongside Firstrade offer clients Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity Investments boasts an offering of 13204 compared to Firstrade's 12191 available funds. Commission free ETFs also should not be forgotten, with Fidelity Investments having the upper hand thanks to its 91 available ETFs compared to Firstrade's offering of 12.
Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Fidelity Investments makes virtual trading available to clients, while Firstrade does not. Taking a look at mobile trading, Firstrade gives clients access to an iPhone App and Android App while Fidelity Investments has an 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. Checking Accounts and Debit Cards are offered by Firstrade while Fidelity Investments offers Checking Accounts, Savings Accounts, Debit Cards and Credit Cards. On the whole, when it comes to tools, research, and trading on the go, Fidelity Investments finished with awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2014, while Firstrade came up with none of these.
Overall, Fidelity Investments boasts 4.50 stars versus Firstrade's 3.50 stars.