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 TD Ameritrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Fidelity and TD Ameritrade both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts cost $0.65 each at both brokerages. 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. TD Ameritrade offers clients Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Fidelity offers Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity trails TD Ameritrade by 636 total mutual funds, with TD Ameritrade offering 12418 and Fidelity offering 11782.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TD Ameritrade makes virtual trading available to clients, while Fidelity does not. Taking a look at mobile trading, Fidelity and TD Ameritrade both have a 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. Checking Accounts, Debit Cards and Credit Cards are offered by TD Ameritrade while Fidelity offers Checking Accounts, Savings Accounts, Debit Cards and Credit Cards.
Overall, between Fidelity and TD Ameritrade, TD Ameritrade is the winner.
TD Ameritrade Review