Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Fidelity Investments vs Scottrade to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at Fidelity Investments and Scottrade.
First we will break down the commission charges of both brokers for placing stock and options trades. Scottrade charges $6.95 per stock trade which is $2.00 more than Fidelity Investments which charges clients $4.95 per trade. With options, the base fees charged are $6.95 (Scottrade) and $4.95 (Fidelity Investments). Each contract then costs $0.70 at Scottrade and $0.65 at Fidelity Investments for a difference in price of $0.05 per contract. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. Both Fidelity Investments and Scottrade support Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Fidelity Investments trails Scottrade by 395.00 total funds, with Scottrade offering 13599 and Fidelity Investments offering 13204. And, commission free ETFs deserve a mention, with Fidelity Investments having the upper hand thanks to its 91 available ETFs compared to Scottrade's offering of 0.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Both Fidelity Investments and Scottrade have virtual trading. For mobile trading, Fidelity Investments along with Scottrade both support the iPhone App, iPad App and Android App. Online banking is also used by many clients, and multiple brokerages provide these services. Clients can have Checking Accounts, Savings Accounts and Debit Cards at Scottrade while clients at Fidelity Investments can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards. All things considered, when it comes to platform tools, research, and trading via smartphone, Fidelity Investments posted awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2014, while Scottrade found itself with none of these.
Overall, Fidelity Investments boasts 4.50 stars versus Scottrade's 4.00 stars.