The E*TRADE vs Fidelity Investments review is essential for people in search of a first-time financial platform. This two-way comparison is important as each of the platforms has its unique importance. And choosing one between both depends totally on the type of investing you want to operate on.
They both are financial investing platforms with a lot of stocks and other commodities. Both are best at their features, and you can consider either for your investment operations. Read this guide to get the comparison between both platforms.
E*TRADE vs Fidelity Investments
Fidelity keeps on evolving as a major force in the online brokerage space. Its brokerage service took the top spot overall in 2019 and 2020 Best Online Brokers Award. And it has continued to enhance key pieces of its platform while committing to lowering the cost of investing for investors.
E*TRADE as an online brokerage pioneer offers two computer-based platforms. And two full-features mobile apps that appeal to a range of investing styles and interests.
It first came to an establishment in 1982 as a platform made for online trading. E*TRADE is one of the bests in online trading investment, and it has over $65 billion assets under management. It stands as a full-service discount investment broker with one of the best trading platforms in the business.
Other than the ability to be a successful self-directed investor, the platform offers users stock, bonds, mutual funds, exchange-traded funds (ETFs), options, futures, and forex trading. The platform also offers four different investment options, and three are aimed at larger investment accounts and are actively managed by financial advisors and experts.
This platform was founded in 1946, with its headquarter in Boston. Fidelity is one of the largest investment brokerage firms in the world. Having over $2.46 trillion in assets under management Makes it the second-largest in the world.
Fidelity offers 24/7 customer service and access to over 140 local branches in the country. It operates a full-service discount brokerage and offers trading in every asset type from stocks, bonds, mutual funds, and ETFs.
Let’s get to the similarities between E*TRADE vs Fidelity Investments:
- They both don’t need a minimum investment to open an account.
- Both platforms are diversified investment brokers that offer several Robo advisors options.
- E*TRADE and Fidelity Investment have local branches.
- They offer investors access to an online site and mobile apps for iOS and Android devices.
These are the top similarities.
We will be listing out just two major differences between both platforms:
- E*TRADE offers 24/7 customer service by live chat, while Fidelity offers phone contact for the same period.
- Fidelity has over 140 branch offices, while E*TRADE has less with about 30 local branch offices.
Which is Better for Beginners?
Based on our review, Fidelity Investment is a better option for beginner investors than E*TRADE. This is based on Fidelity offering access to videos, education (stocks), education (ETFs), and a lot more.
E*TRADE vs Fidelity Investments Pricing
They both have an equal fee for trading stocks and other commodities, which is $0 per trade. Also, there is a $0 base fee for both platforms, and options contracts for both are the same at $0.65 each.
Fidelity Investment offers checking accounts, savings accounts, debit cards, and credit cards. While E*TRADES offers checking accounts, savings accounts, and debit cards.
E*TRADE doesn’t charge annual fees for brokerage accounts. Though, it manages accounts annually. There is an advisory fee of 0.30% for the core portfolios Robo advisor. While fees are ranging from 0.35% to 1.125% on other manages portfolio accounts.
Fidelity Investment doesn’t charge an annual fee for its brokerage accounts. Though, the Go Robo advisor does. It has an annual advisory fee of 0.35%, while its other manages account fees range from 0.40% to 1.70%.
Both platforms come with SIPC coverage. This helps to safeguard investors’ funds from broker failure of about $25,000 up to $500,000 in securities in cash. For direct security, E*TRADE offers $8 liability against unauthorized use of the account, and complete payment protection. It also protects information privacy, optional digital security ID, and provides smart alerts by text or email.
Fidelity Investment offers two-factor authentication, security text alerts, and also money transfer lockdown. This helps users to block electronic money transfers out of the account. It also reimburses you for financial losses that result from unauthorized activities on accounts.