E*TRADE vs Fidelity Investments review is important for those who are searching for a first-time platform or for those who are looking to switch from where they are to something new. This E*TRADE Vs. Fidelity Investments, a two-way comparison is necessary because each of these platforms has its own unique specializations, which depends on what type of investing you want to do.
E*TRADE Vs. Fidelity Investments
The E*TRADE came on board in 1982 as a platform crafted specifically for online trading. E*TRADE is one of the best in the business when it comes to online trading and has more than $65 billion in assets it under management attests to that fact.
This, E*TRADE stands as a full-service discount investment broker with one of the best trading platforms in the business. Apart from giving you the ability to be a successful self-directed investor, E*TRADE offers you stocks, bonds, mutual funds, exchange-traded funds (ETFs), options, futures, and FOREX trading. E*TRADE also offers four different managed investment options, three of which are aimed at larger investment accounts and are actively managed by financial advisors.
About Fidelity Investment
Fidelity Investment was founded in 1946 and is headquartered in Boston. Fidelity stands as one of the largest investment brokerage firms in the world with $2.46 trillion in assets under management, making it the second-largest in the world.
Owing to its size, Fidelity offers 24/7 customer service and access to over 140 local branches throughout the country. Known one time primarily for its proprietary mutual funds, Fidelity Investment operates a full-service discount brokerage. This platform offers trading in every asset type ranging from stocks, bonds, mutual funds, and ETFs (both Fidelity Funds and funds from other providers) and options.
Fidelity also has its own Robo advisor, Fidelity Go. With it, you can open an account with no money at all and start investing with just $10. Fidelity invests in U.S. and international stock and bond ETFs with an annual advisory fee of 0.35%.
Fidelity also offers several other investment management options, like Fidelity Portfolio Advisory, Fidelity Personalized Portfolios, Fidelity Separately Managed Accounts, and Fidelity Wealth Management Advisory. Each of these investment management options is designed for investors with larger portfolios, which requires larger minimum initial investments and charges higher fees.
- Both E*TRADE and Fidelity are diversified investment brokers that also offer several robo advisor options.
- Both of these platforms do not need a minimum investment to open an account.
- E*TRADE and Fidelity have local branches.
- Both platforms offer investor access online and by iOS and Android mobile apps.
- E*TRADE offers 24/7 customer service by live chat, while Fidelity offers a 24/7 phone contact.
- Fidelity Investment has 140 branch offices, and E*TRADE has 30 local branch offices.
Which Platform is Better for Beginners?
Fidelity stands as a better option for beginner investors than E*TRADE. This is because Fidelity offers investors access to videos, education (stocks), education (ETFs), education (options), education (mutual funds), education (fixed income) as well as education (retirement).
E*TRADE vs Fidelity Pricing
Both platforms have equal fees for trading stocks (equities), which is $0 per trade. Weighing the options, the base fees are charged the same for both brokers, which is $0. The option contracts for both brokerages are the same at $0.65 each.
E*TRADE vs Fidelity Investment Options
When it comes to investment options, Fidelity offers a more diverse selection of investment options than E*TRADE. Fidelity’s options include access to stock trading, fractional shares, OTCBB / pink sheets, options trading, mutual funds, advisor services, and international trading. While E*TRADE offers 9291 available funds, Fidelity offers 11246 mutual funds.
E*TRADE vs Fidelity Investment – Which Platform is Better?
Fidelity is better for trading tools because it offers a better experience, and with research, Fidelity offers superior market research.
E*TRADE on the other hand offers better mobile trading apps.
E*TRADE does not charge annual fees for brokerage accounts. However, it’s managed accounts have an annual. Advisory fee of 0.30% for the core portfolios Robo advisor and. Fees ranging from 0.35% to 1.125% on the other managed portfolio accounts.
Fidelity does not charge an annual fee for its brokerage accounts. However, the Fidelity Go Robo advisor does. Have an annual advisory fee of 0.35%, while its four other managed accounts range from 0.40% up to 1.70%.
When it comes to security, both accounts come with SIPC coverage. This safeguards investor’s funds from broker failure up to $500,000 in securities in cash, including up to $250,000 in cash.
For direct security, E*TRADE provides $8 liability against. Unauthorized use of investors’ accounts, and complete payment protection. Information privacy, optional digital security ID. And smart alerts by text or email.
For direct security, Fidelity offers two-factor authentication. Security text alerts as well as a money transfer lockdown option. That allows you to block electronic money movements out of your account. This platform also offers the Fidelity Customer Protection Guarantee. And reimburses you for any financial losses that result from unauthorized activities on your accounts.
E*TRADE phone contact is available Monday – Friday, from 8:30 P.M. – 8:30 P.M. Eastern Time. But customer support is available 24/7 by live chat.Fidelity offers customer support by phone, 24/7.