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 both cost $4.95 per trade. For options trading, both Fidelity Investments and Ally Invest charge the same base fee of $4.95. Option contracts at both of the brokerages are the same at $0.65 each. 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 provides its clients with Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Fidelity Investments provides clients access to Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Fidelity Investments offers its clients access to 12505 different mutual funds while Ally Invest has 10264 available funds, a difference of 2,241. And, commission free ETFs deserve a comparison, with Fidelity Investments having the upper hand thanks to its 91 available commission free ETFs compared to Ally Invest's offering of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments makes virtual trading available to clients, while Ally Invest does not. For mobile trading, Both Fidelity Investments and Ally Invest offer clients access to an 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, Fidelity Investments was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading, while Ally Invest was rated none of these.
Overall, Fidelity Investments comes out on top with 4.50 stars over Ally Invest's 4.00 stars.