Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Fidelity 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 and Interactive Brokers both cost $0 per trade. With options, the base fee is $0 for both Fidelity and Interactive Brokers. Option contracts are pricier at Interactive Brokers, costing $0.70 versus $0.65 at Fidelity. 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 supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Fidelity supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Interactive Brokers trails Fidelity by 782 total mutual funds, with Fidelity offering 11782 and Interactive Brokers offering 11000.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Interactive Brokers has virtual trading, Fidelity doesn't. For mobile trading, Fidelity and Interactive Brokers both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at Fidelity can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards.
Overall, between Fidelity and Interactive Brokers, Fidelity is the winner.
Interactive Brokers Review