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 5,000 data points, let's compare Fidelity Investments vs Scottrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Scottrade, with its regular stock trades costing $6.95, is more expensive than Fidelity Investments's rate of $4.95 per trade. For options trading, Scottrade has a base fee of $6.95, and Fidelity Investments a base fee of $4.95. Fidelity Investments's per contract rate of $0.65 is less than Scottrade which charges $0.70. 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. Fidelity Investments and Scottrade provide clients with Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Scottrade boasts an offering of 13599 mutual funds compared to Fidelity Investments's 12505 available funds. Commission free ETFs can also be valuable for customers, with Fidelity Investments having the upper hand thanks to its 91 available commission free ETFs compared to Scottrade's offering of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both Fidelity Investments and Scottrade offer virtual trading. Taking a look at mobile trading, Fidelity Investments along with Scottrade 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. Clients can have Checking Accounts, Savings Accounts and Debit Cards at Scottrade while customers at Fidelity Investments can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards. On the whole, when it comes to tools, research, and mobile trading, Fidelity Investments posted awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2018, while Scottrade found itself with none of these.
Overall, Fidelity Investments takes the upper hand with 5.00 stars over Scottrade's 4.00 stars.