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Fidelity vs TradeStation 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is Fidelity better than TradeStation? After testing 17 of the best online brokers over three months, Fidelity (98.22%) is better than TradeStation (78.24%). Our top pick overall for 2023, Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.

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Overall RatingFidelityTradeStation
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Customer Service 4.5/5 Stars 3.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 3/5 Stars
Winner check_circle
Review Fidelity Review TradeStation Review
Trading FeesFidelityTradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) $0.00 $0.00
Mutual Fund Trade Fee $49.95 $14.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.60
Futures (Per Contract) N/A $1.50
Broker Assisted Trade Fee $32.95 $0
Margin RatesFidelityTradeStation
Margin Rate Under $25,000 11.33% 11.00%
Margin Rate $25,000 to $49,999.99 10.83% 11.00%
Margin Rate $50,000 to $99,999.99 9.88% 10.00%
Margin Rate $100,000 to $249,999.99 9.83% 10.00%
Margin Rate $250,000 to $499,999.99 9.58% 10.00%
Margin Rate $500,000 to $999,999.99 7.25% 5.50%
Margin Rate Above $1,000,000 7.00% 5.50%
Account FeesFidelityTradeStation
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $0.00 $50.00
Account Transfer Out (Partial) $0.00 $125.00
Account Transfer Out (Full) $0.00 $125.00
Options Exercise Fee $0.00 $14.95
Options Assignment Fee $0.00 $5.95
Investment OptionsFidelityTradeStation
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes No
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No Yes
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 11
Mutual Funds (No Load) 5843 800
Mutual Funds (Total) 10000 4000
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes No
International Countries (Stocks) 25 0
Order TypesFidelityTradeStation
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes Yes
Order Type - OTO Yes Yes
Order Type - Broker Assisted Yes Yes
BeginnersFidelityTradeStation
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes No
Paper Trading No Yes
Videos Yes Yes
Webinars Yes Yes
Webinars (Archived) Yes No
Progress Tracking Yes No
Interactive Learning - Quizzes Yes No
Stock Trading AppsFidelityTradeStation
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes Yes
Stock App FeaturesFidelityTradeStation
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes Yes
Watch Lists - Total Fields 92 335
Stock App ChartingFidelityTradeStation
Charting - After-Hours Yes Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 129 45
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes No
Trading PlatformsFidelityTradeStation
Active Trading Platform Active Trader Pro TradeStation 10
Desktop Trading Platform Yes Yes
Desktop Platform (Mac) Yes No
Web Trading Platform Yes Yes
Paper Trading No Yes
Trade Journal Yes No
Watch Lists - Total Fields 92 335
Stock Chart FeaturesFidelityTradeStation
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 129 290
Charting - Drawing Tools 37 23
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes Yes
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes Yes
Charting - Custom Time Bars Yes Yes
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 5 12
Charting - Custom Studies No Yes
Day TradingFidelityTradeStation
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Stocks Yes Yes
Ladder Trading No Yes
Trade Hot Keys Yes Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes Yes
Trade Ideas - Backtesting Adv No Yes
Short Locator Yes Yes
Order Liquidity Rebates No Yes
Research OverviewFidelityTradeStation
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes Yes
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes Yes
Stock ResearchFidelityTradeStation
Stock Research - PDF Reports 11 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes No
ETF ResearchFidelityTradeStation
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure Yes No
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchFidelityTradeStation
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes No
Options TradingFidelityTradeStation
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 26 32
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv Yes Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingFidelityTradeStation
Bank (Member FDIC) No No
Checking Accounts No No
Savings Accounts No No
Credit Cards Yes No
Debit Cards Yes No
Mortgage Loans No No
Customer ServiceFidelityTradeStation
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes No
Email Support Yes Yes
Live Chat (Prospect Customers) Yes Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
OverallFidelityTradeStation
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 3/5 Stars
Winner check_circle
Review Fidelity Review TradeStation Review
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Fidelity vs TradeStation Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Fidelity vs TradeStation.

Is Fidelity or TradeStation better for beginners?

Fidelity offers more comprehensive new investor education for beginner investors than TradeStation. Fidelity offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options).

What about Fidelity vs TradeStation pricing?

Fidelity and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Fidelity, costing $0.65 per contract versus $0.60 per contract at TradeStation. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Fidelity or TradeStation offer a wider range of investment options?

Fidelity offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, while TradeStation offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, neither have Forex Trading. Looking at Mutual Funds, TradeStation trails Fidelity in its offering of no transaction fee (NTF) mutual funds, with Fidelity offering 3401 and TradeStation offering 0.

Which trading platform is better: Fidelity or TradeStation?

To compare the trading platforms of Fidelity and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, Fidelity offers superior market research. Finally, we found Fidelity to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Debit Cards and Credit Cards are offered by Fidelity while TradeStation offers none, neither have Checking Accounts, Savings Accounts and Mortgage Loans.

Is Fidelity good?

Our top pick overall for 2023, Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.

Is TradeStation good?

TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh. TradeStation ranked among Best in Class in the Commissions and Fees and Investment Options categories in our 2023 Annual Review of online stockbrokers.

Fidelity vs TradeStation Winner

Overall winner: Fidelity

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1 Fidelity Sell orders are subject to an activity assessment fee from $0.01 to $0.03 per $1,000 of principal. Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.

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