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Fidelity vs Robinhood 2020

StockBrokers.com | November 25th, 2020

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  3. Fidelity vs Robinhood Review

Is Fidelity better than Robinhood? After testing 15 of the best online brokers over five months, Fidelity (95%) is better than Robinhood (62.62%). Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services. Serving over 32 million customers, Fidelity is a winner for everyday investors.

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Overall Rating

Feature Fidelity Robinhood
Overall 5 3
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 2
Platforms & Tools 4.5 2
Mobile Trading 5 4
Research 5 2
Education 5 3
Ease of Use 5 5
Banking 4 0.5
Fidelity Review Robinhood Review
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Trading Fees

Feature Fidelity Robinhood
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.00
Mutual Fund Trade Fee $49.95 N/A
Broker Assisted Trades Fee $32.95 N/A

Margin Rates

Feature Fidelity Robinhood
Under $24,999.99 8.33% 5.00%
$25,000.00 to $49,999.99 7.83% 5.00%
$50,000.00 to $99,999.99 6.88% 5.00%
$100,000.00 to $249,999.99 6.83% 5.00%
$250,000.00 to $499,999.99 6.58% 5.00%
$500,000.00 to $999,999.99 4.25% 5.00%
Above $1,000,000.00 4.00% 5.00%

Account Fees

Feature Fidelity Robinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Returned ACH Fee $0.00 $9.00
Returned Wire Fee $0.00 $9.00
Stock Certificate Processing Fee $0.00 N/A
Stock Certificate Delivery Fee $100.00 N/A
Paper Statement Fee $0.00 $5.00
Paper Confirmation Fee $0.00 $2.00
Domestic Wire Fee $0.00 $25.00
International Wire Fee $0.00 $50.00

Investment Options

Feature Fidelity Robinhood
Stock Trading
 Yes Yes
Fractional Shares
 Yes Yes
OTCBB / Pink Sheets
 Yes No
Options Trading
 Yes Yes
Complex Options Max Legs
 4 4
Futures Trading
 No No
Forex Trading
 No No
Crypto Trading No Yes
Mutual Funds (No Load)
 3786 0
Mutual Funds (Total)
 9842 0
Bonds (US Treasury)
 Yes No
Bonds (Corporate)
 Yes No
Bonds (Municipal)
 Yes No
Advisor Services
 Yes No
International Trading
 Yes No

Order Types

Feature Fidelity Robinhood
Order Type - Market
 Yes Yes
Order Type - Limit
 Yes Yes
Order Type - Stop
 Yes Yes
Order Type - Trailing Stop
 Yes Yes
Order Type - Contingent
 Yes No
Order Type - MultiContingent
 Yes No
Order Type - OCO
 Yes No
Order Type - OTO
 Yes No
Order Type - OTOCO
 Yes No

Trading Platforms

Feature Fidelity Robinhood
Desktop Platform (Windows)
 Yes No
Desktop Platform (Mac)
 Yes No
Web Platform
 Yes Yes
Paper Trading
 No No
Trade Journal
 Yes No
Watch Lists - Total Fields
 91 7
Heat Mapping
 Yes No
AI Assistant Bot
 Yes No

Charting Features

Feature Fidelity Robinhood
Charting - Trade Off Chart
 Yes No
Charting - Indicators / Studies
 129 5
Charting - Drawing Tools
 22 0
Charting - Historical Trades
 Yes No
Charting - Corporate Events
 Yes No
Charting - Automated Analysis
 Yes No
Charting - Save Profiles
 Yes No
Charting - Study Customizations
 5 2
Charting - Custom Studies
 No No

Day Trading

Feature Fidelity Robinhood
Stock Alerts - Basic Fields
 Yes No
Stock Alerts - Advanced Fields
 Yes No
Streaming Time & Sales
 No No
Streaming TV
 Yes No
Direct Market Routing - Stocks
 Yes No
Direct Market Routing - Options
 Yes No
Ladder Trading
 No No
Trade Hot Keys
 Yes No
Level 2 Quotes - Stocks
 Yes No
Level 2 Quotes - Options
 Yes No
Trade Ideas - Backtesting
 Yes No
Short Locator
 Yes No
Order Liquidity Rebates
 No No

Mobile Trading Apps

Feature Fidelity Robinhood
iPhone App
 Yes Yes
Android App
 Yes Yes
Apple Watch App
 Yes Yes
Trading - Stocks
 Yes Yes
Trading - After-Hours
 Yes Yes
Trading - Conditional Orders
 No No
Trading - Mutual Funds
 Yes No
Trading - Simple Options
 Yes Yes
Trading - Complex Options
 Yes Yes
Trading - Option Rolling
 No No
Touch / Face ID
 Yes Yes

Mobile App Features

Feature Fidelity Robinhood
Watch List Syncing
Yes Yes
Stock Alerts
 Yes Yes
Charting - After Hours
 Yes Yes
Charting - Drawing
 No No
Charting - Study Customizations
Yes No
Heatmapping
 Yes No
Stream Live TV
 Yes No
Barcode Lookup
 No No

Research Overview

Feature Fidelity Robinhood
Research - Stocks
 Yes Yes
Research - ETFs
 Yes Yes
Research - Mutual Funds
 Yes No
Research - Pink Sheets / OTCBB
 Yes No
Research - Fixed Income
 Yes No
Screener - Stocks
 Yes No
Screener - ETFs
 Yes No
Screener - Mutual Funds
 Yes No
Screener - Options
 Yes No
Screener - Bonds
 Yes No
Misc - Portfolio Builder
 Yes No
Misc - Portfolio Allocation
 Yes Yes

Stock Research

Feature Fidelity Robinhood
Stock Research - Reports
 11 0
Stock Research - Earnings
 Yes Yes
Stock Research - Insiders
 Yes No
Stock Research - Metric Comp
 Yes No
Stock Research - SEC Filings
 Yes No
Stock Research - Social
 Yes No
Stock Research - Balance Sheet
 Yes No
Stock Research - Cash Flows
 Yes No
Stock Research - News
 Yes Yes
Stock Research - ESG
 Yes No

ETF Research

Feature Fidelity Robinhood
ETFs - Strategy Overview
 Yes Yes
ETFs - Top 10 Holdings
 Yes No
ETFs - Sector Exposure
 Yes No
ETFs - Risk Analysis
 Yes No
ETFs - Performance Analysis
 Yes Yes
ETFs - Ratings
 Yes No
ETFs - Morningstar StyleMap
 Yes No
ETFs - Reports
 Yes No

Mutual Fund Research

Feature Fidelity Robinhood
Mutual Funds - Strategy Overview
 Yes No
Mutual Funds - Prospectus
 Yes No
Mutual Funds - Reports
 No No
Mutual Funds - Fees Breakdown
 Yes No
Mutual Funds - Top 10 Holdings
 Yes No
Mutual Funds - Asset Allocation
 Yes No
Mutual Funds - Sector Allocation
 Yes No
Mutual Funds - Country Allocation
 Yes No
Mutual Funds - StyleMap
 Yes No
Mutual Funds - 3rd Party Ratings
 Yes No

Options Trading

Feature Fidelity Robinhood
Option Chains - Streaming
 Yes Yes
Option Chains - Total Columns
 26 6
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
 Yes No
Option Analysis - P&L Charts
 Yes No
Option Probability Analysis
 Yes No
Option Probability Analysis Adv
 Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
 Yes No
Option Positions - Rolling
 Yes No
Option Positions - Grouping
 Yes Yes

Beginners

Feature Fidelity Robinhood
Education (Stocks)
 Yes Yes
Education (ETFs)
 Yes No
Education (Options)
 Yes Yes
Education (Mutual Funds)
 Yes No
Education (Fixed Income)
 Yes No
Education (Retirement)
 Yes No
Paper Trading
 No No
Videos
 Yes No
Webinars (Monthly Avg)
 15 0
Webinars (Archived)
 Yes No
Live Seminars
 Yes No
Progress Tracking
 Yes No
Interactive Learning - Quizzes
 Yes No

Banking

Feature Fidelity Robinhood
Retail Locations
 200 0
Member FDIC
 No No
Checking Accounts
 Yes No
Savings Accounts
 Yes No
Credit Cards
 Yes No
Debit Cards
 Yes Yes
Mortgage Loans
 No No
No Fee Banking
 Yes No

Overall

Feature Fidelity Robinhood
Overall 5 3
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 2
Platforms & Tools 4.5 2
Mobile Trading 5 4
Research 5 2
Education 5 3
Ease of Use 5 5
Banking 4 0.5
Fidelity Review Robinhood Review
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Fidelity vs Robinhood.

Is Fidelity or Robinhood better for beginners?
Fidelity is better for beginner investors than Robinhood. Fidelity offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about Fidelity vs Robinhood pricing?
Fidelity and Robinhood charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both Fidelity and Robinhood. Option contracts are pricier at Fidelity, costing $0.65 versus $0 at Robinhood. For a complete commissions summary, see our best discount brokers guide.

Does Fidelity or Robinhood offer a wider range of investment options?
Fidelity offers a more diverse selection of investment options than Robinhood. Fidelity offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Advisor Services and International Trading. Looking at Mutual Funds, Robinhood trails Fidelity by 9,842 total mutual funds, with Fidelity offering 9842 and Robinhood offering 0.

Which trading platform is better: Fidelity or Robinhood?
To compare the trading platforms of both Fidelity and Robinhood, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Fidelity offers a better experience. With research, Fidelity offers superior market research. Finally, we found Fidelity to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Clients can have Debit Cards at Robinhood while customers at Fidelity can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards.

Overall, between Fidelity and Robinhood, Fidelity is the better online broker.

Fidelity Review
Robinhood Review

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All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

1$0.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an Options Regulatory Fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Clearing & Custody Solutions® are subject to different commission schedules.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.

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