Fidelity vs. Robinhood – A Detailed Comparison
Discover our detailed comparison of Fidelity and Robinhood 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 Fidelity and Robinhood across the internet and compiled it all in this article.
- Extensive investing options
- Good customer support
- Great overall investing platform
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.
Overview of Robinhood
Robinhood is a popular commission-free brokerage platform that was founded in 2013. It gained significant attention for its user-friendly mobile app and the democratization of investing by eliminating traditional trading fees. Robinhood has attracted a large user base, primarily consisting of millennials and new investors seeking easy access to financial markets.
✓ No options commissions
✓ User-friendly interface
✓ Extended hours trading
Robinhood is Best For
Robinhood is best for beginners who want easy access to stocks, options, and crypto. The mobile app has an amazingly simple design, allowing anybody to take control of their financial future. Robinhood is a great choice for all investors except active traders requiring more advanced charting and order placement tools.
Key Characteristics of Fidelity and Robinhood
| Platform | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
|---|---|---|---|---|---|
| Fidelity | Brokerage Platform | Stocks, ETFs, Mutual Funds, Options, Index Options, Bonds | Active Trader Pro Platform | Real-time data with funded account | No premium features |
| Robinhood | Brokerage Platform | Stocks, ETFs, Options, Crypto | Basic charting on mobile and web app | Real-time data with funded account | $5/mo for Gold |
Trading Features and Tools
| Platform | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| Fidelity | Yes, no fees | Yes | SIPC Insured | Yes |
| Robinhood | Yes, no fees | Yes | SIPC Insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | Fidelity | Robinhood |
|---|---|---|
| Equity Commission | Free | Free |
| Option Commission | $0.65 per contract | Free |
| Futures Commission | No futures | No futures |
| Futures Options Commission | No futures options | No futures options |
| Option Exercise Fee | None | None |
Fidelity vs Robinhood – Bottom Line
Choosing between Fidelity and Robinhood 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?
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- 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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