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. Robinhood's per contract rate of $0 is less than Fidelity Investments which charges $0.65. 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 supports Stock Trading and Options Trading while Fidelity Investments supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Robinhood trails Fidelity Investments by 12,505 total mutual funds, with Fidelity Investments offering 12505 and Robinhood offering 0. And, commission free ETFs deserve a comparison, with Fidelity Investments having the upper hand thanks to its 91 available commission free ETFs compared to Robinhood's offering of N/A.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments makes virtual trading available to clients, 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. 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, both Fidelity Investments and Robinhood found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Fidelity Investments takes the upper hand with 5.00 stars over Robinhood's 2.50 stars.