The best alternatives to Fidelity are
- Interactive Brokers - US discount broker
- Charles Schwab - US discount broker
- E-Trade - US stockbroker
- TD Ameritrade - US-based stockbroker
Let's see in a bit more detail how the Fidelity alternatives compare to Fidelity and each other:
| Fidelity | Interactive Brokers | Charles Schwab | E-Trade | TD Ameritrade | |
|---|---|---|---|---|---|
| Overall score | 4.7 | 4.8 | 4.6 | 4.5 | 4.5 |
| Fees score | |||||
| Account opening score | |||||
| Deposit and withdrawal score | |||||
| Web platform score | |||||
| Markets and products score | |||||
| Visit broker | Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to Fidelity? There are many areas based on which Fidelity can be compared with others. When we say a given online broker is a good alternative to Fidelity we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Fidelity alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- Fidelity is recommended for beginners, investors, traders looking for solids research and great trading platforms
- Interactive Brokers is recommended for traders who prefer low fees and a professional trading environment
- Charles Schwab is recommended for investors and traders looking for solid research, low fees, and great customer service
- E-Trade is recommended for investors and traders looking for solid research and great mobile trading platform
- TD Ameritrade is recommended for investors and traders looking for solid research and well-equipped desktop trading platform
Important factors of finding Fidelity alternatives
So far Brokerchooser has reviewed 57 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether Fidelity or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Fidelity is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Fidelity alternative.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Fidelity, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Fidelity alternative is a must.
Now let's dive into the details of how Fidelity and its alternatives perform in the most important areas!
Fidelity alternatives
Fidelity
4.7
5 stars
Fidelity was founded in 1946 and it is one of the biggest US stockbrokers. It is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).
Fidelity is considered safe because it has a long track record and is regulated by top-tier regulators.
Recommended for beginners, investors, traders looking for solids research and great trading platforms
- Solid research tools
- Great web trading platform
- US and international stocks offered
- Lack of credit/debit cards for money transfer
- Not fully digital account opening
- High mutual fund fees
Fees 4 stars
Fidelity has average trading fees and low non-trading fees. It even charges no commission for some ETFs, bonds, and mutual funds. On the negative side, the fees for mutual funds and the financing rates are high.
- No inactivity fee
- Transparent fee structure
- Some ETFs, bonds, and mutual funds are free
- High financing rate
- High mutual fund fees
| Fidelity | Interactive Brokers | Charles Schwab | E-Trade | TD Ameritrade | |
|---|---|---|---|---|---|
| Apple benchmark fee | $10.1 | $2.2 | $10.1 | $14.1 | $14.1 |
| Vodafone benchmark fee | $26.4 | $17.9 | - | - | - |
| EURUSD benchmark fee | - | $23.0 | - | - | $44.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 3 stars
Opening an account at Fidelity is easy and fast, but not fully digital. The application had to be mailed with the relevant ID's photocopy.
- Fast
- No minimum deposit
- Not fully digital
- ID hardcopy was needed
| Fidelity | Interactive Brokers | Charles Schwab | E-Trade | TD Ameritrade | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $500 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | >3 days | 1-3 days |
Learn more about Fidelity minimum deposit here.
Deposit and withdrawal 3 stars
Fidelity offers bank transfer and electronic wallets as deposit and withdrawal options. Exceptionally wide range of base currencies is provided too. However, credit/debit cards are not accepted and the wire withdrawals are charged.
- Several account base currencies
- Electronic wallets
- Credit/Debit card not available
- $10 for outgoing wire transfers
| Fidelity | Interactive Brokers | Charles Schwab | E-Trade | TD Ameritrade | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | Yes | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform 5 stars
Fidelity's web platform is easy to use, has a lot of order types, and provides a two-step authentication. On the negative side, the web trading platform is not customizable.
- User-friendly
- Two-step (safer) login
- Good variety of order types
- Limited customizability (for charts, workspace)
| Fidelity | Interactive Brokers | Charles Schwab | E-Trade | TD Ameritrade | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
Learn more about Fidelity's web trading platform in the detailed Fidelity review.
Markets and products 3 stars
Fidelity offers a lot of asset classes, from stocks to options. Within the stock offer, both the US and international markets covered. On the negative side, forex and futures are missing.
| Fidelity | Interactive Brokers | Charles Schwab | E-Trade | TD Ameritrade | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | No | Yes | No | No | Yes |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | No | Yes | Yes | Yes | Yes |
| CFD | No | Yes | No | No | No |
| Crypto | No | Yes | No | No | No |
Verdict
Fidelity Schwab is one of the biggest US stockbrokers regulated by top-tier regulators.
Fidelity's research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The web trading platform is easy to use and offers advanced order types. The product offer covers international stock exchanges besides the US market, it's unique among the US brokers.
Fidelity has some drawbacks though. It doesn't provide credit/debit cards for money transfers. The account is not fully digital and the fees for mutual funds are quite high.
As the research tools are great, the web trading platform is user-friendly, and no inactivity fee is charged, feel free to try Fidelity.
| Fidelity | |
|---|---|
| Summary | Fidelity is a US stockbroker. It is regulated by top-tier regulators, the SEC and FINRA. |
| Fees score | |
| Recommended for | Beginners, investors, traders looking for solids research and great trading platforms |
Fidelity alternatives
Interactive Brokers
4.8
5 stars
Best online broker
Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.
Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.
Recommended for traders who prefer low fees and a professional trading environment
- Broad product portfolio
- Low fees
- Great and diverse research tools
- Funding and withdrawal only through bank transfer
- Complicated account opening process
- Not user-friendly and complicated desktop trading platform
Fees 4 stars
Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
- Low trading fees
- Transparent fee structure
- Inactivity fee
| Interactive Brokers | Fidelity | |
|---|---|---|
| Apple benchmark fee | $2.2 | $10.1 |
| Vodafone benchmark fee | $17.9 | $26.4 |
| EURUSD benchmark fee | $23.0 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 3 stars
The account opening process is fully digital, but slow and complicated.
- Fully digital
- No minimum deposit for most accounts
- Slow
- Not user-friendly
- Confusing messages throughout the process
| Interactive Brokers | Fidelity | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Interactive Brokers minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.
- Several account base currencies
- No charge for the first withdrawal each month
- Credit/Debit card not available
- Slow withdrawal - over 3 days
| Interactive Brokers | Fidelity | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform 4 stars
The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.
- User-friendly
- Clear fee report
- Two-step (safer) login
- Limited customizability (for charts, workspace)
| Interactive Brokers | Fidelity | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products 5 stars
Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.
| Interactive Brokers | Fidelity | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | Yes | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | Yes | No |
| Crypto | Yes | No |
Verdict
IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.
It has low trading fees, a wide range of product portfolio, and diverse research tools.
On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.
Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC. |
| Fees score | |
| Recommended for | Traders who prefer low fees and a professional trading environment |
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Fidelity alternatives
Charles Schwab
4.6
5 stars
Best research
Charles Schwab was founded in 1971 and it is one of the biggest US-based discount brokers. It is regulated by top-tier regulators, like the US SEC or the UK FCA.
Charles Schwab is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, and is regulated by top-tier regulators.
Recommended for investors and traders looking for solid research, low fees, and great customer service
- Outstanding research
- Low fees
- Great customer service
- No credit/debit cards and electronic wallets for money transfer
- Only US markets covered
- Not well-structured education
Fees 4 stars
Charles Schwab has low trading and non-trading fees. It even charges no commission for some ETFs, bonds, and mutual funds. On the negative side, the fees for mutual funds and the financing rates are high.
- Low trading fees
- No inactivity fee
- Some ETFs, bonds, and mutual funds are free
- High financing rate
- High fees for mutual funds
| Charles Schwab | Fidelity | |
|---|---|---|
| Apple benchmark fee | $10.1 | $10.1 |
| Vodafone benchmark fee | - | $26.4 |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 5 stars
Opening an account at Charles Schwab is easy, fast and fully digital. For US-clients there is no minimum deposit. However, if you open an account outside the US, there is a $25,000 minimum.
- Fast
- Fully digital
- No minimum deposit
- For non-US clients $25,000 minimum
| Charles Schwab | Fidelity | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in Charles Schwab minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
Charles Schwab deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, and a high fee is charged for wire withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
- No deposit fee
- User-friendly
- Credit/Debit card not available
- Only one account base currency
- High fee for wire withdrawals
| Charles Schwab | Fidelity | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform 4 stars
Charles Schab's web platform is simple and easy to use. Even beginners can easily navigate it. On the negative side, it lacks two-step login and customizability.
- User-friendly
- Clear fee report
- Price alerts
- No two-step (safer) login
- Limited customizability (for charts, workspace)
| Charles Schwab | Fidelity | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about Charles Schwab's web trading platform in the detailed Charles Schwab review.
Markets and products 3 stars
At Charles Schwab, you can trade with a lot of asset classes, from stocks to futures. However, the offered products cover only the US market.
| Charles Schwab | Fidelity | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Charles Schwab is one of the biggest discount US brokers regulated by top-tier regulators.
Its research is outstanding and covers many tools, including trading ideas and detailed fundamental data. It charges low trading and non-trading fees. The customer service is great, you will get relevant answers within a short time.
It has some drawbacks though. It doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets. Lastly, the educational tools are not well-structured.
As the research tools are great, the account opening is seamless, and no inactivity fee is charged, feel free to try it.
| Charles Schwab | |
|---|---|
| Summary | Charles Schwab is a US discount broker, regulated by top-tier regulators, the SEC and FINRA. The company is listed on NYSE and holds a banking license. |
| Fees score | |
| Recommended for | Investors and traders looking for solid research, low fees, and great customer service |
Fidelity alternatives
E-Trade
4.5
5 stars
E-Trade was founded in 1982 and it is a US-based stockbroker. It is regulated by the Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA).
E-Trade is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is regulated by top-tier regulators.
Recommended for investors and traders looking for solid research and great mobile trading platform
- Solid research tools
- Well-designed mobile trading platform
- Good customer service
- No credit/debit cards and electronic wallets for money transfer
- Only US markets covered
- Slow account verification
Fees 3 stars
E-Trade has high trading and low non-trading fees. E-Trade charges no commission for some ETFs, bonds, and mutual funds.
- No withdrawal fee
- No inactivity fee
- Some ETFs, bonds, and mutual funds are free
- High trading fees
- High financing rate
| E-Trade | Fidelity | |
|---|---|---|
| Apple benchmark fee | $14.1 | $10.1 |
| Vodafone benchmark fee | - | $26.4 |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 4 stars
The account opening is fully digital and user-friendly for US clients. On the flip side, the account verification process was slow.
- Fully digital
- User-friendly
- Slow
| E-Trade | Fidelity | |
|---|---|---|
| Minimum deposit | $500 | $0 |
| Time to open account | >3 days | 1-3 days |
If you are interested more in E-Trade minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
E-Trade deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, a high fee is charged for wire transfer withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly for US clients.
- Free withdrawal
- No deposit fee
- User-friendly for US clients
- Credit/Debit card not available
- Only one account base currency
| E-Trade | Fidelity | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform 4 stars
E-Trade has a great web-based trading platform. It is user-friendly and well-designed. On the negative side, there is no two-step login.
- User-friendly
- Clear fee report
- Good variety of order types
- No two-step (safer) login
| E-Trade | Fidelity | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score | - |
Learn more about E-Trade's web trading platform in the detailed E-Trade review.
Markets and products 3 stars
At E-Trade, you can trade with a lot of asset classes, from stocks to futures, but not with forex. However, the offered products cover only the US market.
| E-Trade | Fidelity | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
E-Trade is one of the biggest US stockbrokers regulated by top-tier regulators.
E-Trade's research functions are high-quality and channel a lot of tools, including trading ideas, and strategy builders builders as well. We liked the easy handling and the persionalizable features of the mobile trading platform. The customer service is great, you will get relevant answers within a short time.
It has some drawbacks though. E-Trade doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets. The account verification process is slow.
As the research tools are great and no inactivity fee is charged, feel free to try it.
| E-Trade | |
|---|---|
| Summary | E-Trade is a US stockbroker, regulated by top-tier regulators, the SEC and FINRA. The company is listed on NASDAQ and has banking background. |
| Fees score | |
| Recommended for | Investors and traders looking for solid research and great mobile trading platform |
Fidelity alternatives
TD Ameritrade
4.5
5 stars
TD Ameritrade was founded in 1971 and it is one of the big US discount brokers. It is regulated by top tier regulators, like US SEC.
TD Ameritrade is considered safe because it has a long track record, is listed on stock exchange, has a banking background, discloses its financials, and is regulated by top-tier regulators.
Recommended for investors and traders looking for solid research and well-equipped desktop trading platform
- Solid research and education
- Superb desktop trading platform
- Great customer support
- High trading fees
- No credit/debit cards and electronic wallets for money transfer
- Only US markets covered
Fees 3 stars
TD Ameritrade has high trading and low non-trading fees. It charges no commission for some ETFs, bonds, and mutual funds.
- No withdrawal fee
- No inactivity fee
- High trading fees
- High financing rate
| TD Ameritrade | Fidelity | |
|---|---|---|
| Apple benchmark fee | $14.1 | $10.1 |
| Vodafone benchmark fee | - | $26.4 |
| EURUSD benchmark fee | $44.3 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 3 stars
Opening an account is easy, but not fully digital. For US-clients there is no minimum deposit.
- User-friendly
- Many account types
- No minimum account balance for US clients
- Not fully digital
| TD Ameritrade | Fidelity | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in TD Ameritrade minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
TD Ameritrade deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, and a high fee is charged for wire transfer withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
- Free withdrawal
- No deposit fee
- User-friendly
- Credit/Debit card not available
- Only one account base currency
| TD Ameritrade | Fidelity | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform 4 stars
TD Ameritrade offers a good web-based trading platform with a clean design. On the flip side, there is no two-step login and the platform is not customizable.
- User-friendly
- Clear fee report
- Good search function
- No two-step (safer) login
- Limited customizability (for workspace)
| TD Ameritrade | Fidelity | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about TD Ameritrade's web trading platform in the detailed TD Ameritrade review.
Markets and products 3 stars
At TD Ameritrade, you can trade with a lot of asset classes, from stocks to futures and forex. However, the offered products cover only the US market.
| TD Ameritrade | Fidelity | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | Yes | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
TD Ameritrade is one of the biggest discount US brokers regulated by top-tier regulators.
Research and education are outstanding and covers a lot of tools. The thinkorswim desktop trading platform is one of the best on the market. The customer service is great, you will get relevant answers within a short time.
It has some drawbacks though. It charges high fees. It doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets.
As the research tools are great, the account opening is seamless, and no inactivity fee is charged, feel free to try it.
| TD Ameritrade | |
|---|---|
| Summary | TD Ameritrade is a US stockbroker, regulated by top-tier regulators, the SEC and FINRA. The company is listed on NASDAQ and has banking background (TD Group). |
| Fees score | |
| Recommended for | Investors and traders looking for solid research and well-equipped desktop trading platform |
Fidelity alternatives
Bottom line
Based on our analysis, there are several good alternatives to Fidelity. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| Fidelity | US stockbroker | Beginners, investors, traders looking for solids research and great trading platforms |
| Interactive Brokers | US discount broker | Traders who prefer low fees and a professional trading environment |
| Charles Schwab | US discount broker | Investors and traders looking for solid research, low fees, and great customer service |
| E-Trade | US stockbroker | Investors and traders looking for solid research and great mobile trading platform |
| TD Ameritrade | US-based stockbroker | Investors and traders looking for solid research and well-equipped desktop trading platform |
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