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 SpeedTrader.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. SpeedTrader charges $4.49 per stock trade which is $4.49 more than Fidelity which charges customers $0 per trade. With options, the base fee is $0 for both Fidelity and SpeedTrader. Option contracts are pricier at Fidelity, costing $0.65 versus $0 at SpeedTrader. 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. SpeedTrader 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, SpeedTrader trails Fidelity by 11,782 total mutual funds, with Fidelity offering 11782 and SpeedTrader offering 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SpeedTrader has virtual trading, Fidelity doesn't. Taking a look at mobile trading, SpeedTrader offers the iPhone App and Android App while Fidelity offers 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, Debit Cards and Credit Cards at Fidelity while customers at SpeedTrader can have none of these.
Overall, between Fidelity and SpeedTrader, Fidelity is the winner.