Using data from the StockBrokers.com 2017 Broker Review which tested 16 different online brokers
over six months, we can compare Fidelity Investments vs Robinhood 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 $4.95 per stock trade which is $4.95 more than Robinhood which charges customers $0 per trade. With options, the base fees charged are $N/A (Robinhood) and $4.95 (Fidelity Investments). Option contracts are pricier at Robinhood, costing $N/A 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. Robinhood provides its clients with Stock Trading while Fidelity Investments provides clients access to Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Fidelity Investments offers its clients access to 13204 different mutual funds while Robinhood has 0 available funds, a difference of 13,204. And, commission free ETFs deserve a comparison, Fidelity Investments offers 91 commission free ETFs versus Robinhood's total of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments offers virtual trading while Robinhood does not. For mobile trading, Both Fidelity Investments and Robinhood 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 Robinhood can have none of these. All factors considered, when it comes to platform tools, research, and mobile trading, Fidelity Investments finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2017, while Robinhood came up with none of these.
Overall, Fidelity Investments takes the upper hand with 4.50 stars over Robinhood's 2.50 stars.