Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Fidelity Investments vs Ally Invest to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. Fidelity Investments and Ally Invest have equal fees for trading stocks (equities), $4.95 per trade. With options, the base fee is $4.95 for both Fidelity Investments and Ally Invest. Option contracts cost $0.65 each at both brokerages. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Ally Invest supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Fidelity Investments supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Ally Invest trails Fidelity Investments by 2,241 total mutual funds, with Fidelity Investments offering 12505 and Ally Invest offering 10264. And, commission free ETFs deserve a comparison, with Ally Invest falling behind Fidelity Investments, offering 0 commission free ETFs compared to Fidelity Investments's 91.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments has virtual trading, Ally Invest doesn't. For mobile trading, Fidelity Investments and Ally Invest both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Ally Invest while Fidelity Investments offers customers Checking Accounts, Savings Accounts, Debit Cards and Credit Cards. All factors considered, when it comes to platform tools, research, and mobile trading, both Fidelity Investments and Ally Invest found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Fidelity Investments takes the upper hand with 5.00 stars over Ally Invest's 3.50 stars.