Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Fidelity Investments vs Interactive Brokers.
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 charges $4.95 per stock trade which is $4.95 more than Interactive Brokers which charges customers $0 (the broker charges a per share rate instead) per trade. With options, the base fees charged are $4.95 (Fidelity Investments) and $0 (Interactive Brokers). Fidelity Investments's per contract rate of $0.65 is less than Interactive Brokers which charges $0.70. 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. Interactive Brokers supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Fidelity Investments supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity Investments offers its clients access to 12505 different mutual funds while Interactive Brokers has 10051 available funds, a difference of 2,454. Commission free ETFs can also be valuable for customers, Fidelity Investments offers 91 commission free ETFs versus Interactive Brokers's total of 45.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Fidelity Investments alongside Interactive Brokers offer virtual trading. Taking a look at mobile trading, Both Fidelity Investments and Interactive Brokers offer clients access to 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. Clients can have Debit Cards at Interactive Brokers 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 posted awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2018, while Interactive Brokers found itself with Best in Class - Mobile Trading.
Overall, Fidelity Investments boasts 5.00 stars versus Interactive Brokers's 4.50 stars.