Comparing brokers side by side is no easy task. For our 2017 Broker Review
, we assessed 16 brokers on 308 different variables. 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, Interactive Brokers trails Fidelity Investments by 5,178.00 total mutual funds, with Fidelity Investments offering 13204 and Interactive Brokers offering 8026. Commission free ETFs can also be valuable for customers, with Interactive Brokers falling behind Fidelity Investments, offering 33 commission free ETFs compared to Fidelity Investments's 91.
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, Fidelity Investments along with Interactive Brokers both support the 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. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are offered by Fidelity Investments while Interactive Brokers offers none of these. On the whole, when it comes to 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.