ETrade vs. Fidelity – A Detailed Comparison
Discover our detailed comparison of ETrade and Fidelity to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience.
To make your research easier, we manually found key data for ETrade and Fidelity across the internet and compiled it all in this article.
- Extensive investing options
- Good customer support
- Great overall investing platform
Overview of ETrade
Founded in 1982, ETRADE was one of the first companies to offer electronic trading to individual investors, making it easier for the general public to participate in the stock market without the need for traditional face-to-face transactions with brokers. ETrade offers competitive pricing for derivative trading and offers a trading platform for charting and analysis.
✓ Good research tools
✓ User-friendly app
✓ Great customer support
ETrade is Best For
ETrade is best for long-term investors and active traders alike, but it is just okay compared to other platforms. If you are a long-term investor, ETrade is great, but it doesn’t offer as much flexibility with fractional shares. It is also not the broker of choice for active traders, since much better platforms like tastytrade and thinkorswim are available.
Overview of Fidelity
Fidelity is a well-established brokerage firm known for its comprehensive range of financial services. It is one of the only institutions that offers zero-cost mutual funds, at the expense of less frequent dividend payments. While they don’t offer leverage products like futures, they allow you to invest in crypto, and they are one of the only brokerages that provides custody of the fund’s Bitcoin.
✓ Extensive investing options
✓ Good customer support
✓ Great overall investing platform
Fidelity is Best For
Fidelity is best for long-term investors, but not as much for active traders seeking leveraged products like futures contracts. However, the options trading fees are competitive, they provide many low-cost investment funds, and they allow you to invest in cryptocurrency, making it a great all-around brokerage.
Key Characteristics of ETrade and Fidelity
| Platform | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
|---|---|---|---|---|---|
| ETrade | Brokerage Platform | Stocks, ETFs, Mutual Funds, Options, Futures, Futures Options, Crypto, Bonds | Power ETrade Platform | Real-time data with funded account | No premium features |
| Fidelity | Brokerage Platform | Stocks, ETFs, Mutual Funds, Options, Index Options, Bonds | Active Trader Pro Platform | Real-time data with funded account | No premium features |
Trading Features and Tools
| Platform | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| ETrade | Yes, no fees in most cases | Yes | SIPC/FDIC Insured | Yes |
| Fidelity | Yes, no fees | Yes | SIPC Insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | ETrade | Fidelity |
|---|---|---|
| Equity Commission | Free | Free |
| Option Commission | $0.65 per contract | $0.65 per contract |
| Futures Commission | $1.50 per contract | No futures |
| Futures Options Commission | Must call to activate futures options | No futures options |
| Option Exercise Fee | None | None |
ETrade vs Fidelity – Bottom Line
Choosing between ETrade and Fidelity depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in.
Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.
For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.
What is the Overall Best Charting Software?
I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:
- All of TradingView’s key features are free to use
- TradingView provides real-time data for free whenever possible
- You are not tied to a single broker and can use whichever you want while charting on TradingView
- You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
- TradingView has an excellent economic calendar and various screeners
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