Using data from the StockBrokers.com 2017 Broker Review which tested 16 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, with its regular stock trades costing $4.95, is more expensive than Interactive Brokers's rate of $0 (the broker charges a per share rate instead) per trade. Looking at trading options, Interactive Brokers's base fee is $0 while Fidelity Investments's is $4.95. Option contracts are pricier at Interactive Brokers, costing $0.70 versus $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 supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Fidelity Investments supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Interactive Brokers trails Fidelity Investments by 5,178 total mutual funds, with Fidelity Investments offering 13204 and Interactive Brokers offering 8026. And, commission free ETFs deserve a comparison, with Fidelity Investments having the upper hand thanks to its 91 available commission free ETFs compared to Interactive Brokers's offering of 33.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Fidelity Investments and 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. Clients can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards at Fidelity Investments while customers at Interactive Brokers can have none of these. All factors considered, when it comes to platform tools, research, and mobile trading, Interactive Brokers finished with awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while Fidelity Investments came up with Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Fidelity Investments comes out on top with 4.50 stars over Interactive Brokers's 4.00 stars.