Fidelity vs. tastytrade – A Detailed Comparison
Discover our detailed comparison of Fidelity and tastytrade 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 tastytrade across the internet and compiled it all in this article.
- Extensive investing options
- Good customer support
- Great overall investing platform
- Best for options trading
- Low derivative commissions
- Solid charting tools
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 tastytrade
tastytrade is a brokerage platform built for active traders, especially options traders. It was founded by Tom Sosnoff, who also founded the thinkorswim platform. Sosnoff recently sold tastytrade to IG, and is still the main host of his financial education company tastylive.
✓ Best for options trading
✓ Low derivative commissions
✓ Solid charting tools
tastytrade is Best For
tastytrade is best for active traders, especially those who want a high tier margin account and low fees for futures and options trades. The platform is also great for regular investors with features like fractional shares. Additionally, you can trade cryptocurrency on the platform.
Key Characteristics of Fidelity and tastytrade
| 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 |
| tastytrade | Brokerage Platform | Stocks, ETFs, Options, Index Options, Futures, Futures Options, Crypto, Bonds | Downloadable desktop platform and web app | Real-time data with funded account | No premium features |
Trading Features and Tools
| Platform | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| Fidelity | Yes, no fees | Yes | SIPC Insured | Yes |
| tastytrade | Yes, no fees to enable, but clearing fee to sell fractional shares | Yes | SIPC Insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | Fidelity | tastytrade |
|---|---|---|
| Equity Commission | Free | Free |
| Option Commission | $0.65 per contract | $1 to Open, Free to Close |
| Futures Commission | No futures | $1.25 per contract, $0.85 micro, $0.25 smalls |
| Futures Options Commission | No futures options | $2.50 per contract, $1.50 micro |
| Option Exercise Fee | None | $5 fee |
Fidelity vs tastytrade – Bottom Line
Choosing between Fidelity and tastytrade 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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- TradingView has an excellent economic calendar and various screeners
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