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TradeStation vs Fidelity 2020

Is Fidelity better than TradeStation? After testing 15 of the best online brokers over five months, Fidelity (95%) is better than TradeStation (82.4%). Fidelity is a value-driven online broker offering $0 stock trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services. Serving over 30 million customers, Fidelity is a winner for everyday investors.

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Overall Rating

Trading Fees

Feature TradeStation Fidelity
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.50 $0.65
Mutual Fund Trade Fee $14.95 $49.95
Broker Assisted Trades Fee $50.00 $32.95
Commissions & Fees 4.5 4.5
Winner check_circle

Margin Rates

Feature TradeStation Fidelity
Under $24,999.99 9.50% 9.33%
$25,000.00 to $49,999.99 9.50% 8.83%
$50,000.00 to $99,999.99 8.75% 7.88%
$100,000.00 to $249,999.99 8.75% 7.83%
$250,000.00 to $499,999.99 8.75% 7.58%
$500,000.00 to $999,999.99 5.50% 5.25%
Above $1,000,000.00 5.50% 5.00%
Commissions & Fees 4.5 4.5
Winner check_circle

Account Fees

Feature TradeStation Fidelity
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $50.00 $0.00
Returned ACH Fee $25.00 $0.00
Returned Wire Fee $25.00 $0.00
Stock Certificate Processing Fee $150.00 $0.00
Stock Certificate Delivery Fee $15.00 $100.00
Paper Statement Fee $1.00 $0.00
Paper Confirmation Fee $1.00 $0.00
Domestic Wire Fee $25.00 $0.00
International Wire Fee $35.00 $0.00
Commissions & Fees 4.5 4.5

Investment Options

Feature TradeStation Fidelity
Stock Trading
Yes Yes
Fractional Shares
No Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs all all
Mutual Funds (No Load)
887 3957
Mutual Funds (Total)
4357 11246
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Interest Sharing
Yes Yes
Advisor Services
No Yes
International Trading
No Yes
Offering of Investments 4.5 4.5
Winner check_circle

Order Types

Feature TradeStation Fidelity
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes Yes
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
Yes Yes
Offering of Investments 4.5 4.5
Winner check_circle

Trading Platforms

Feature TradeStation Fidelity
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No Yes
Watch Lists - Total Fields
335 91
Heat Mapping
No Yes
AI Assistant Bot
No Yes
Platforms & Tools 5 4.5
Winner check_circle

Charting Features

Feature TradeStation Fidelity
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
285 166
Charting - Drawing Tools
23 22
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
12 5
Charting - Custom Studies
Yes No
Platforms & Tools 5 4.5
Winner check_circle

Day Trading

Feature TradeStation Fidelity
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes No
Streaming TV
No Yes
Direct Market Routing - Stocks
Yes Yes
Direct Market Routing - Options
Yes Yes
Ladder Trading
Yes No
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
Yes No
Short Locator
Yes Yes
Order Liquidity Rebates
Yes No
Winner check_circle

Mobile Trading Apps

Feature TradeStation Fidelity
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
No Yes
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature TradeStation Fidelity
Watch List Syncing
Yes Yes
Stock Alerts
Yes Yes
Charting - After Hours
Yes Yes
Charting - Drawing
Yes No
Charting - Study Customizations
Yes Yes
Heatmapping
No Yes
Stream Live TV
No Yes
Barcode Lookup
No No
Mobile Trading 4.5 5
Winner check_circle

Research Overview

Feature TradeStation Fidelity
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
No Yes
Screener - Stocks
Yes Yes
Screener - ETFs
No Yes
Screener - Mutual Funds
No Yes
Screener - Options
Yes Yes
Screener - Bonds
No Yes
Misc - Portfolio Builder
No Yes
Misc - Portfolio Allocation
No Yes
Research 2 5
Winner check_circle

Stock Research

Feature TradeStation Fidelity
Stock Research - Reports
0 16
Stock Research - Earnings
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No Yes
Stock Research - SEC Filings
No Yes
Stock Research - Social
No Yes
Stock Research - Balance Sheet
No Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No Yes
Research 2 5
Winner check_circle

ETF Research

Feature TradeStation Fidelity
ETFs - Strategy Overview
No Yes
ETFs - Top 10 Holdings
No Yes
ETFs - Sector Exposure
No Yes
ETFs - Risk Analysis
No Yes
ETFs - Performance Analysis
No Yes
ETFs - Ratings
No Yes
ETFs - Morningstar StyleMap
No Yes
ETFs - Reports
No Yes
Research 2 5
Winner check_circle

Mutual Fund Research

Feature TradeStation Fidelity
Mutual Funds - Strategy Overview
No Yes
Mutual Funds - Prospectus
No Yes
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
No Yes
Mutual Funds - Top 10 Holdings
No Yes
Mutual Funds - Asset Allocation
No Yes
Mutual Funds - Sector Allocation
No Yes
Mutual Funds - Country Allocation
No Yes
Mutual Funds - StyleMap
No Yes
Mutual Funds - 3rd Party Ratings
No Yes
Research 2 5
Winner check_circle

Options Trading

Feature TradeStation Fidelity
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
32 26
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 - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 5 4.5
Winner check_circle

Beginners

Feature TradeStation Fidelity
Education (Stocks)
Yes Yes
Education (ETFs)
No Yes
Education (Options)
Yes Yes
Education (Mutual Funds)
No Yes
Education (Fixed Income)
No Yes
Education (Retirement)
No Yes
Paper Trading
Yes No
Videos
Yes Yes
Webinars (Monthly Avg)
0 8
Webinars (Archived)
Yes Yes
Live Seminars
Yes Yes
Progress Tracking
No Yes
Interactive Learning - Quizzes
No Yes
Investor Magazine
Yes Yes
Education 2.5 5
Winner check_circle

Banking

Feature TradeStation Fidelity
Retail Locations
0 197
Member FDIC
No No
Checking Accounts
No Yes
Savings Accounts
No Yes
Credit Cards
No Yes
Debit Cards
No Yes
Mortgage Loans
No No
No Fee Banking
No Yes
Banking 0.5 4
Winner check_circle

Overall

Feature TradeStation Fidelity
TradeStation Review Fidelity Review
Overall 4 5
Winner check_circle

Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Fidelity vs TradeStation.

To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Fidelity and TradeStation have equal fees for trading stocks (equities), $0 per trade. With options, the base fee is $0 for both Fidelity and TradeStation. Option contracts are pricier at Fidelity, costing $0.65 versus $0.50 at TradeStation. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.

Next to commission rates, being able to trade what you want is important. TradeStation supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Fidelity supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity offers its clients access to 11246 different mutual funds while TradeStation has 4357 available funds, a difference of 6,889.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation makes virtual trading available to clients, while Fidelity does not. Taking a look at mobile trading, Fidelity and TradeStation both have a iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards at Fidelity while customers at TradeStation can have none of these.

Overall, between Fidelity and TradeStation, Fidelity is the winner.

Fidelity Review
TradeStation Review



All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

1$0.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an Options Regulatory Fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Clearing & Custody SolutionsĀ® are subject to different commission schedules.

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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