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Fidelity vs Robinhood 2024

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

In this head to head comparison of Fidelity vs Robinhood, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.

Fidelity
5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65
Robinhood
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Investment options

When choosing between Fidelity and Robinhood for your investment needs, it's essential to consider the breadth of available options and features. Fidelity stands out with a high rating of five stars for its comprehensive investment offerings, ranking third out of 18 brokers according to StockBrokers.com. Robinhood, on the other hand, offers a more limited selection, earning a 3.5-star rating and ranking 14th. Both platforms excel in stock, margin, and fractional shares trading, as well as options and crypto trading. However, Fidelity's inclusion of mutual funds and advisor services alongside three cryptocurrencies provides a more robust selection for diversified investors.

Fidelity caters to investors looking for a wide array of investment vehicles, including access to OTC stocks and an impressive mutual fund lineup. Additionally, Fidelity supports both traditional and Roth IRA accounts, making it an attractive choice for those focused on long-term retirement planning. The platform also provides professional advisor services, offering personalized guidance that enhances the investing experience. While both brokers offer similar perks in stock, options, and crypto trading, Fidelity’s three available cryptocurrencies are fewer compared to Robinhood's selection of 19 coins.

Robinhood shines with its user-friendly interface and a focus on straightforward investing options, making it a popular choice among new and tech-savvy investors. Although it lacks mutual funds and advisor services, Robinhood provides essential features such as stock, margin, options, and crypto trading with a notably broader range of cryptocurrencies. IRA accounts are supported too, giving budding investors a chance to grow their retirement savings. Ultimately, while Robinhood offers an intuitive experience, Fidelity's extensive range of investment options and additional services make it a more comprehensive choice for investors seeking a deeper investment portfolio.

Feature Fidelity logoFidelity
Robinhood logoRobinhood
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info Yes Yes
OTC Stocks info Yes Yes
Mutual Funds info Yes No
Options Trading info Yes Yes
Futures Trading info No No
Crypto Trading info Yes Yes info
Crypto Trading - Total Coins info 3 19
Investment Options 5/5 Stars 3.5/5 Stars

Dive deeper: Best Options Trading Platforms & Brokers, 5 Best Futures Trading Platforms of 2024

Trading platforms and tools

In the comparison of trading platforms and tools between Fidelity and Robinhood, Fidelity emerges as the clear frontrunner. It holds a high rating of 4.5 stars, significantly overshadowing Robinhood's 3-star rating. Fidelity claims an impressive third place among 18 brokers reviewed by StockBrokers.com, while Robinhood lags at the thirteenth position. The extensive range of features Fidelity offers provides traders with robust tools for executing trades, analyzing data, and customizing their trading experience, while Robinhood's more basic offerings cater primarily to novice investors.

Fidelity offers a comprehensive suite of trading platforms, including a Windows and Mac downloadable platform, alongside a browser-based platform. In contrast, Robinhood only provides a browser-based platform. With no paper trading available on either platform, traders might find Fidelity’s trading journal a valuable tool for tracking their investment decisions, a feature absent in Robinhood. Fidelity excels in offering 92 fields for watch lists, a stark contrast to Robinhood's three, showcasing Fidelity's attention to detail and customization.

For those who prioritize charting capabilities, Fidelity shines with 129 technical indicators, 38 drawing tools, and the ability to extensively customize and embellish charts with notes, historical trades, and corporate events. Traders can adjust open orders directly on the stock chart, set custom date ranges, and show automated technical analysis on Fidelity’s platform. These features are not available on Robinhood, which offers only 6 technical indicators and no drawing tools, indicating a more limited charting experience. Fidelity further enhances customization with multiple chart profiles, while Robinhood remains limited in this aspect.

Feature Fidelity logoFidelity
Robinhood logoRobinhood
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Paper Trading info No No
Watch Lists - Total Fields info 92 3
Charting - Indicators / Studies info 129 6
Charting - Drawing Tools info 38 0
Platforms & Tools 4.5/5 Stars 3/5 Stars

Dive deeper: Best Stock Brokers for 2024, Best Paper Trading Platforms of 2024

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Beginners and education

Fidelity and Robinhood both offer educational resources for beginners, yet they significantly differ in their scope and comprehensiveness. Fidelity excels in providing a rich array of educational tools covering stocks, ETFs, options, mutual funds, and bonds, making it a versatile choice for diverse investor interests. It distinguishes itself with features such as educational videos, webinars, and quizzes, alongside the ability to track learning progress. In contrast, Robinhood focuses on stock and options education but lacks coverage in ETFs, mutual funds, and bonds, and does not offer the diverse range of educational formats that Fidelity does.

Fidelity's commitment to investor education is recognized in its top ranking by StockBrokers.com, rated as the number one broker for education among 18 options, earning a full five-star rating. Robinhood, while simplifying access to stock trading and options for beginners, falls short in comprehensive educational support, receiving a 3.5-star rating and ranking tenth. Both platforms do not offer paper trading, but Fidelity remains a step ahead, offering a more structured and immersive educational experience suitable for investors who are serious about expanding their knowledge.

Feature Fidelity logoFidelity
Robinhood logoRobinhood
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Paper Trading info No No
Videos info Yes No
Webinars info Yes No
Education 5/5 Stars 3.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2024

Stock trading apps

When it comes to choosing between Fidelity and Robinhood for stock trading app capabilities, Fidelity emerges as a more robust choice, boasting a perfect five-star rating compared to Robinhood's 4.5 stars. Fidelity ranks third among 18 brokers on StockBrokers.com, while Robinhood holds the ninth position. This higher ranking reflects Fidelity's comprehensive offering, which includes unique features such as streaming live TV, videos on demand, extensive technical studies, and enhanced charting capabilities, including landscape mode viewing and stock comparisons.

Both Fidelity and Robinhood provide versatile app support, available on iPhone, Android, and Apple Watch. They each offer essential functionalities such as mobile options trading, streaming quotes, stock alerts, and customizable watch lists. Furthermore, both platforms facilitate after-hours trading and charting, allowing users to make informed decisions beyond regular market hours.

However, Fidelity distinguishes itself with its advanced charting tools, featuring 119 technical studies compared to Robinhood's six. Additionally, Fidelity users can benefit from exclusive offerings like the ability to view charts in landscape mode and compare different stocks directly on charts—features Robinhood does not provide. These comprehensive capabilities make Fidelity a strong contender for traders seeking a more detailed and enriched mobile trading experience.

Feature Fidelity logoFidelity
Robinhood logoRobinhood
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes Yes
Stock Alerts info Yes Yes
Charting - After-Hours info Yes Yes
Charting - Technical Studies info 119 6
Mobile Trading Apps 5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps of 2024

Fees

When weighing Fidelity against Robinhood for account fees and charges, both platforms commendably set a minimum deposit requirement of $0.00 and impose no fees on regular stock trades, making them attractive options for budget-conscious traders. However, for margin balances, Robinhood presents a clear cost advantage with a lower interest rate compared to Fidelity, especially notable for balances under $50,000. While both brokerages offer similar features like no fees on IRA accounts and options-related activities, charges for account transfers set Fidelity apart, as Robinhood imposes a considerable fee for both partial and full transfers.

Fidelity charges $0.65 per options contract, contrasting with Robinhood's $0.00 fee, thus presenting a clear cost-saving opportunity for options traders choosing Robinhood. Despite this, Fidelity's array of investment services might still appeal to those prioritizing value-added features over cost topography. For active traders leveraging margin, Robinhood provides competitive rates, 6% for balances under $50,000 and dipping to 5.8% for figures above, compared to Fidelity’s steeper 12.575% below the $50,000 mark.

Both companies offer zero fees for IRA annual management and closure, leveling the playing field for investors considering retirement account options. Notably advantageous for Fidelity is its zero charge on both partial and full Account Transfers (ACAT), whereas Robinhood costs $100.00 for similar transactions. Ultimately, choosing between Fidelity and Robinhood may hinge on the trader's preference for minimized immediate costs versus a more comprehensive suite of financial services.

Feature Fidelity logoFidelity
Robinhood logoRobinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Commissions & Fees 5/5 Stars 4.5/5 Stars

Dive deeper: Best Brokers for Free Stock Trading of 2024

Day Trading

For day traders seeking a comprehensive platform, Fidelity offers a more robust set of tools compared to Robinhood. Fidelity stands out with essential day trading features, including streaming time and sales for stocks, streaming live TV, direct market routing, and trading hotkeys for quick keyboard trade entry. Additionally, Fidelity provides level 2 quotes, basic strategy backtesting, and a short locator tool that displays real-time availability of shares to short, all features that Robinhood currently lacks. These capabilities can be critical for active traders who rely on real-time information and enhanced market access to make informed decisions.

In contrast, Robinhood's platform is more limited for day traders. While it is popular for its user-friendly interface and commission-free trades, Robinhood does not support streaming time and sales for stocks, streaming live TV, or direct market routing. The lack of trading hotkeys, level 2 quotes, and basic strategy backtesting further highlights the constraints for traders who need advanced tools for their trading strategies. Both platforms do not offer advanced strategy backtesting or ladder trading, but Fidelity’s superior feature set makes it a more attractive choice for serious day traders looking for a competitive edge in the market.

Feature Fidelity logoFidelity
Robinhood logoRobinhood
Streaming Time & Sales info Yes No
Streaming TV info Yes No
Direct Market Routing - Stocks info Yes No
Level 2 Quotes - Stocks info Yes No info
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info No No
Short Locator info Yes No

Dive deeper: Best Day Trading Platforms of 2024

Market Research

For investors who prioritize comprehensive market research, Fidelity emerges as a superior choice over Robinhood, offering a broader array of resources and analytical tools. Fidelity stands as a leading broker with a five-star rating for market research, providing extensive research capabilities across various investment types, including stocks, ETFs, mutual funds, and bonds. In contrast, Robinhood, with a 2.5-star rating, delivers more limited research options and ranks #14 compared to Fidelity's impressive #5 ranking by StockBrokers.com. These distinctions highlight Fidelity's commitment to equipping investors with robust analysis and data-driven insights.

Fidelity offers a wide range of research features that cater to both novice and experienced investors. Its comprehensive offerings include research on stocks, ETFs, mutual funds, and pink sheets/OTCBB, alongside access to ETF screener and bond screener tools for generating trade ideas. Notably, Fidelity provides 11 downloadable PDF research reports for stocks, as well as reports for ETFs, though mutual fund reports are not available in PDF format. Investors benefit from insights generated via social media sentiment analysis and ESG criteria evaluation, vital for making informed decisions in today's investment landscape.

Robinhood, known for its user-friendly platform, offers basic research capabilities, including stock and ETF analysis and pink sheets/OTCBB research. However, it lacks research support for mutual funds and bonds, alongside absent downloadable PDF reports for both stocks and ETFs. Furthermore, Robinhood does not provide portfolio allocation tools by asset class, nor does it incorporate social media sentiment or ESG evaluation within its research offerings. While Robinhood facilitates effortless trading for beginners, its limited research features may encourage more seasoned investors to seek Fidelity's diverse toolkit for deeper market insights.

Feature Fidelity logoFidelity
Robinhood logoRobinhood
Research - Stocks info Yes Yes
Screener - Stocks info Yes No
Research - ETFs info Yes Yes
Screener - ETFs info Yes No
Research - Mutual Funds info Yes No
Screener - Mutual Funds info Yes No
Research - Bonds info Yes No
Screener - Bonds info Yes No
Research 5/5 Stars 2.5/5 Stars

Banking

When assessing the banking capabilities of online brokers Fidelity and Robinhood, several differences emerge. Neither Fidelity nor Robinhood provides traditional checking or savings accounts, but both do offer debit cards to their users, facilitating easy access to funds. However, Fidelity distinguishes itself by offering credit cards, while Robinhood does not. Additionally, Fidelity provides mortgage loans, a service absent from Robinhood’s offerings. For those interested in certificates of deposit (CDs), Fidelity delivers, whereas Robinhood does not offer this option. These distinctions highlight Fidelity as the more comprehensive choice for users seeking broader banking services beyond investment opportunities, while Robinhood remains more limited in its banking abilities.

Feature Fidelity logoFidelity
Robinhood logoRobinhood
Checking Accounts info No No
Savings Accounts info No No
Debit Cards info Yes Yes
Credit Cards info Yes No
Mortgage Loans info Yes No
CDs info Yes No

Dive deeper: Best Bank Brokerages of 2024

Winner

After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that Fidelity is better than Robinhood. Fidelity finished with an overall score of 98.7%, while Robinhood finished with a score of 84.5%.

Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.

FAQs

Can you trade cryptocurrency with Fidelity or Robinhood?

Both Fidelity and Robinhood offer crypto trading, but while Fidelity provides access to 3 cryptocurrencies, Robinhood stands out with a wider selection of 19 coins, catering to diverse trading preferences.

Dive deeper: Best Crypto Trading Platforms of 2024

Does Fidelity or Robinhood offer IRAs?

Both Fidelity and Robinhood offer traditional and Roth IRA accounts with no annual or closure fees, making them cost-effective options for retirement investment management.

Dive deeper: Best IRA Accounts of 2024

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Compare

0 of 5
Overall Rating Fidelity Robinhood
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 3.5/5 Stars
Platforms & Tools 4.5/5 Stars 3/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Customer Service 4.5/5 Stars N/A
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Fidelity Review Robinhood Review
Broker Screenshots Fidelity Robinhood
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees Fidelity Robinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info $0.00 N/A
Mutual Fund Trade Fee Varies info N/A
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) (Not offered) (Not offered)
Broker Assisted Trade Fee $32.95 N/A
Margin Rates Fidelity Robinhood
Margin Rate Under $25,000 13.075% 6%
Margin Rate $25,000 to $49,999.99 12.575% 6%
Margin Rate $50,000 to $99,999.99 12.125% 5.8%
Margin Rate $100,000 to $249,999.99 11.575% 5.5%
Margin Rate $250,000 to $499,999.99 11.325% 5.5%
Margin Rate $500,000 to $999,999.99 9.00% 5.5%
Margin Rate Above $1,000,000 8.75% 5.25%
Account Fees Fidelity Robinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) info $0.00 $100.00
Account Transfer Out (Full) info $0.00 $100.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment Options Fidelity Robinhood
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info Yes Yes
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No No
Forex Trading info No No
Crypto Trading info Yes Yes info
Crypto Trading - Total Coins info 3 19
Mutual Funds (No Load) info 5843 0
Mutual Funds (Total) info 10000 0
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) info Yes No
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info Yes No
International Countries (Stocks) info 25 0
Order Types Fidelity Robinhood
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes No
Beginners Fidelity Robinhood
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes Yes
Paper Trading info No No
Videos info Yes No
Webinars info Yes No
Webinars (Archived) info Yes No
Progress Tracking info Yes No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Fidelity Robinhood
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes Yes
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features Fidelity Robinhood
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info Yes No
Videos on Demand info Yes No
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes Yes
Stock App Charting Fidelity Robinhood
Charting - After-Hours info Yes Yes
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 119 6
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes No
Trading Platforms Fidelity Robinhood
Active Trading Platform info Active Trader Pro
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Web Trading Platform info Yes Yes
Paper Trading info No No
Trade Journal info Yes No
Watch Lists - Total Fields info 92 3
Stock Chart Features Fidelity Robinhood
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 129 6
Charting - Drawing Tools info 38 0
Charting - Notes info Yes No
Charting - Index Overlays info Yes No
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 5 1
Charting - Custom Studies info No No
Day Trading Fidelity Robinhood
Streaming Time & Sales info Yes No
Streaming TV info Yes No
Direct Market Routing - Stocks info Yes No
Ladder Trading info No No
Trade Hotkeys info Yes No
Level 2 Quotes - Stocks info Yes No info
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info No No
Short Locator info Yes No
Order Liquidity Rebates info No No
Research Overview Fidelity Robinhood
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes No
Screener - Stocks info Yes No
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes No
Stock Research Fidelity Robinhood
Stock Research - PDF Reports info 11 0 info
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes No
Stock Research - Social info Yes No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Fidelity Robinhood
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Net Assets info Yes Yes
ETF Fund Facts - Total Holdings info Yes Yes
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes Yes
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Fidelity Robinhood
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Fidelity Robinhood
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes Yes
Option Chains - Total Columns info 26 17
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info Yes No
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes Yes
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info Yes Yes
Banking Fidelity Robinhood
Bank (Member FDIC) info No No
Checking Accounts info No No
Savings Accounts info No No
Credit Cards info Yes No
Debit Cards info Yes Yes
Mortgage Loans info Yes No
Customer Service Fidelity Robinhood
Phone Support (Prospect Customers) info Yes No
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes No
Live Chat (Current Customers) info Yes Yes
24/7 Support info Yes Yes
Overall Fidelity Robinhood
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 3.5/5 Stars
Platforms & Tools 4.5/5 Stars 3/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Fidelity Review Robinhood Review
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