Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Fidelity vs Robinhood.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Fidelity and Robinhood both cost $0 per trade. For options trading, both Fidelity and Robinhood charge the same base fee of $0. Option contracts are pricier at Fidelity, costing $0.65 versus $0 at Robinhood. 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. Robinhood provides its clients with Stock Trading and Options Trading while Fidelity provides clients access to Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity offers its clients access to 11782 different mutual funds while Robinhood has 0 available funds, a difference of 11,782.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Fidelity nor Robinhood offers virtual trading. Taking a look at mobile trading, Fidelity along with Robinhood 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 while Robinhood offers none of these.
Overall, between Fidelity and Robinhood, Fidelity is the winner.