The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares Fidelity vs SpeedTrader. Is Fidelity or SpeedTrader a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. SpeedTrader charges $4.49 per stock trade which is $4.49 more than Fidelity which charges customers $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.65 at Fidelity and $0 at SpeedTrader. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, being able to trade the way you want is a must. SpeedTrader provides its clients with Stock Trading and Options Trading while Fidelity provides clients access to Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Fidelity boasts an offering of 11246 mutual funds compared to SpeedTrader's 0 available funds.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. SpeedTrader makes virtual trading available to clients, while Fidelity does not. For mobile trading, SpeedTrader offer clients access to an iPhone App and Android App while Fidelity has an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are offered by Fidelity while SpeedTrader offers none of these.
Overall, between Fidelity and SpeedTrader, Fidelity is the winner.