The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Fidelity Investments vs Firstrade. Is Fidelity Investments or Firstrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Fidelity Investments charges more than Firstrade for placing regular stock trades ($4.95 and $0, respectively). Looking at trading options, Firstrade's base fee is $0 while Fidelity Investments's is $4.95. Firstrade's per contract rate of $0 is less than Fidelity Investments which charges $0.65. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Both Fidelity Investments and Firstrade support Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Firstrade offers its clients access to 12603 different mutual funds while Fidelity Investments has 12505 available funds, a difference of 98. Commission free ETFs can also be a nice plus, with Firstrade having the upper hand thanks to its 703 available commission free ETFs compared to Fidelity Investments's offering of 265.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Fidelity Investments has virtual trading, Firstrade doesn't. For mobile trading, Fidelity Investments and Firstrade both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts and Debit Cards are available to clients of Firstrade while Fidelity Investments offers customers 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, while Firstrade was rated none of these.
Overall, Fidelity Investments boasts 5.00 stars versus Firstrade's 4.00 stars.