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Fidelity vs. Robinhood
Two trading platforms for beginners, but only one allows room to improve your trading skills.
Robinhood made its debut as one of the only brokers that offered free trades. But its fees no longer set it apart — Fidelity also offers commission-free trades and a more powerful platform to back it.
Which one we like better?
- Choose Fidelity if you want advanced research tools and you want to hone your trading skills.
- Choose Robinhood if you’re new to investing and want a straightforward, user-friendly platform or want early access to IPOs.
Fidelity is our top choice because it offers an in-depth stock screener and advanced platform for experienced investors, plus a simple mobile app and online trading for beginners. And if you’re looking to level up your skills, Fidelity offers an extensive library of videos to help you learn about the market.
Robinhood may appeal to newbie investors because of its sleek, minimalist platform and price point. But Fidelity rivals Robinhood by offering $0 commissions on stocks, ETFs and options. Plus, professional investors and traders looking to beef up their skills won’t be impressed with Robinhood’s lackluster research tools.
What some professional investors may find appealing with Robinhood, though, is the chance to buy IPO stocks at IPO prices. And when Robinhood goes public, it will offer its own customers between 20% and 35% of its own IPO shares. So being a Robinhood user dramatically increases your chances of grabbing some Robinhood stocks at IPO prices.
Fidelity takes the cake after Robinhood’s most recent service outages. And Robinhood’s inefficient customer service that’s only available through email can’t compete with Fidelity’s 24/7 phone support.
|Research and tools|
We awarded a bonus star for offering access to precious metals.
To learn how our star ratings are calculated, read the methodology at the bottom of the page.
How do Fidelity and Robinhood compare?
Fidelity Investments is a platform catering to new and active traders. Its range of trading services span wealth management services, access to international markets and actively-managed ETFs. While it lacks access to crypto, forex and futures, it has almost everything else a trader needs to get up and running, including a hybrid advisor service that combines automated portfolio management with one-on-one financial coaching.
Robinhood is a trading platform for beginners that offers easy-to-navigate software, no account minimums and no commission fees. Research and analytics tools are somewhat limited, but investors can bump up their brokerage account to Robinhood Gold for $5 monthly to receive Morningstar research reports, Nasdaq Level 2 market data and instant access to deposits of $5,000 to $50,000.
|Stock trade fee||$0||$0|
|Stock trade fee||$0 + $0.65/contract||$0|
|Minimum deposit to open||$25,000||$0|
|Tools and research|
|Reputation and customer reviews|
|Apple App Store reviews|
|Google Play Store reviews|
Robinhood may be a good choice if you’re just starting out and want to avoid commission fees and account minimums. Its main advantage is that you can trade cryptocurrency. But its limited customer service and meager research tools may leave some investors wanting more.
Fidelity rivals Robinhood with its commission-free stocks and ETFs. And with its solid lineup of research tools and customizable platform, Fidelity may be a good option for all types of investors.
And if you’re still not convinced that one of these options are right for you, compare a few more online trading platforms.
Frequently asked questions
How we rate trading platforms
★★★★★ 5/5 — Excellent
★★★★★ 4/5 — Good
★★★★★ 3/5 — Average
★★★★★ 2/5 — Subpar
★★★★★ 1/5 — Poor
We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.
For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.
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