The StockBrokers.com 2017 Brokerage Review assessed 16 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 both cost $4.95 per trade. Looking at options, the base fees charged are the same for both brokers, $4.95. Option contracts run $0.65 a piece at both brokerages. 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 supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Fidelity Investments supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Ally Invest trails Fidelity Investments by 3,066 total mutual funds, with Fidelity Investments offering 13204 and Ally Invest offering 10138. Commission free ETFs can also be a nice plus, with Ally Invest falling behind Fidelity Investments, offering 0 commission free ETFs compared to Fidelity Investments's 91.
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 and Ally Invest both offer virtual trading. For mobile trading, Ally Invest supports the iPhone App and Android App while Fidelity Investments supports 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 2017, while Ally Invest found itself with none of these.
Overall, Fidelity Investments comes out on top with 4.50 stars over Ally Invest's 4.00 stars.