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 Interactive Brokers 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 charges more than Interactive Brokers for placing regular stock trades ($4.95 and $0 (the broker charges a per share rate instead), respectively). With options, the base fees charged are $4.95 (Fidelity Investments) and $0 (Interactive Brokers). Each option contract then costs $0.70 at Interactive Brokers and $0.65 at Fidelity Investments. 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. Interactive Brokers provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Fidelity Investments provides clients access to Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Interactive Brokers trails Fidelity Investments by 2,454 total mutual funds, with Fidelity Investments offering 12505 and Interactive Brokers offering 10051. And, commission free ETFs deserve a comparison, Fidelity Investments offers 91 commission free ETFs versus Interactive Brokers's total of 45.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments alongside Interactive Brokers offer virtual trading. For mobile trading, Both Fidelity Investments and Interactive Brokers offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Debit Cards are offered by Interactive Brokers 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, Interactive Brokers posted awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2018, while Fidelity Investments found itself with Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Fidelity Investments boasts 4.50 stars versus Interactive Brokers's 4.00 stars.