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 TradeStation Securities 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. TradeStation Securities, with its regular stock trades costing $5.00, is more expensive than Fidelity Investments's rate of $4.95 per trade. Looking at trading options, Fidelity Investments's base fee is $4.95 while TradeStation Securities's is $5.00. Each option contract then costs $0.65 at Fidelity Investments and $0.50 at TradeStation Securities. 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. TradeStation Securities offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Fidelity Investments offers Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, TradeStation Securities trails Fidelity Investments by 7,554 total mutual funds, with Fidelity Investments offering 12505 and TradeStation Securities offering 4951. And, commission free ETFs deserve a comparison, with TradeStation Securities falling behind Fidelity Investments, offering 0 commission free ETFs compared to Fidelity Investments's 265.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments alongside TradeStation Securities offer virtual trading. For mobile trading, Fidelity Investments and TradeStation Securities both have a 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 and Credit Cards are offered by Fidelity Investments while TradeStation Securities offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, TradeStation Securities was rated Best in Class - Platforms & Tools, while Fidelity Investments was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Fidelity Investments takes the upper hand with 5.00 stars over TradeStation Securities's 4.00 stars.