The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Fidelity Investments vs Ally Invest. Is Fidelity Investments or Ally Invest a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Fidelity Investments and Ally Invest charge the same amount for regular stock trades, $4.95. Looking at options, the base fees charged are the same for both brokers, $4.95. Option contracts at both of the brokerages are the same at $0.65 each. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. 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. When it comes to mutual funds, Fidelity Investments boasts an offering of 12505 mutual funds compared to Ally Invest's 10264 available funds. Commission free ETFs can also be a nice plus, with Fidelity Investments having the upper hand thanks to its 265 available commission free ETFs compared to Ally Invest's offering of 100.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Fidelity Investments offers virtual trading while Ally Invest does not. For mobile trading, Fidelity Investments along with Ally Invest both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. 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. On the whole, when it comes to tools, research, and mobile trading, Fidelity Investments posted awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while Ally Invest found itself with none of these.
Overall, Fidelity Investments comes out on top with 5.00 stars over Ally Invest's 3.50 stars.