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 charge the same amount for regular stock trades, $4.95. 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 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 offers virtual trading 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 offered by Ally Invest while Fidelity Investments offers 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 and Best in Class - Mobile Trading, while Ally Invest was rated none of these.
Overall, Fidelity Investments comes out on top with 5.00 stars over Ally Invest's 3.50 stars.