Using data from our latest annual broker review which tested more than a dozen 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 more than Robinhood for placing regular stock trades ($4.95 and $0, respectively). Looking at trading options, Robinhood's base fee is $0 while Fidelity Investments's is $4.95. Option contracts are pricier at Fidelity Investments, costing $0.65 versus $0 at Robinhood. 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 offers clients Stock Trading and Options Trading while Fidelity Investments offers Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Fidelity Investments boasts an offering of 12505 mutual funds compared to Robinhood's 0 available funds. And, commission free ETFs deserve a comparison, Fidelity Investments offers 91 commission free ETFs versus Robinhood's total of N/A.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments has virtual trading, Robinhood doesn't. For mobile trading, Fidelity Investments and Robinhood 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. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are available to clients of Fidelity Investments while Robinhood offers customers 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 and Best in Class - Mobile Trading, while Robinhood came up with none of these.
Overall, Fidelity Investments takes the upper hand with 5.00 stars over Robinhood's 2.50 stars.