Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

Alternatives to Fidelity

If you’re looking for a broker similar to Fidelity, here are some platforms to consider.

Kimberly Ellis's headshot

By

Kimberly Ellis

Updated

Fact checked

Fidelity offers no expense-ratio index funds and robust research tools to appeal to a variety of investors. But if its high fees turn you off, consider these four companies like Fidelity.

Brokerages like Fidelity

These trading platforms are some of Fidelity’s closest competitors.

Vanguard

Vanguard Brokerage

8.2 Great

Read review
Vanguard offers no-commission ETFs and mutual funds. This private, investor-owned brokerage specializes in low expense ratios. For example, its mutual funds expense ratios averaged 0.10%, which is head and shoulders lower than the industry's average of 0.63% in 2019.
As a result, Vanguard's low-cost investment options and limited research tools make it a better option for long-term investors over active traders.
Both Fidelity and Vanguard offer financial coaching, but only Vanguard helps you minimize your tax responsibility and charges a lower advisory fee of 0.3% to Fidelity's 0.5%. Vanguard customers with high account balances of at least $50,000 unlock its Personal Advisor Services, connecting you with an investment advisor to create a financial plan that works best for you. Your fiduciary advisor can also offer financial advice and tax-minimization strategies, including tax-loss harvesting.
Annual fee$20 per year
Minimum deposit$50,000
Signup bonusN/A

E*TRADE

E*TRADE from Morgan Stanley

8.6 Great

Read review
Like most brokers, E*TRADE offers commission-free trades for stocks, ETFs and options. E*TRADE sets itself apart from Fidelity by offering futures and specialized research tools for options. Its Power E*TRADE platform provides sophisticated analysis to help evaluate the potential risks and benefits of an options trade, such as theoretical probabilities.
And since E*TRADE doesn't have a minimum deposit to open, minimum balance or inactivity fee, active and casual traders don't need to worry about account charges.
Annual fee$0 per year
Minimum deposit$0
Signup bonusGet up to $1,000
terms apply

Robinhood

Robinhood

9.4 Excellent

Top Offer

Get a free stock when you successfully sign up and link your bank account.
Go to site Read review
Robinhood made its debut as a sleek, no-frills, user-friendly platform that offers free trades. But now that most brokers have hopped on the commission-free bandwagon, Robinhood sets itself apart by allowing you to buy cryptocurrency directly and doesn't charge a fee for options contracts. And its instant deposits mean you can start trading immediately.
Annual fee$0 per year
Minimum deposit$0
Signup bonusGet a free stock

Charles Schwab

Charles Schwab

8.8 Great

Go to site Read review
Charles Schwab is an online broker that offers proprietary research tools that give Fidelity a run for its money. You'll access independent reports and analysis from providers like Morningstar, advanced charting tools and proprietary Schwab equity ratings.
While both Schwab and Fidelity offer commission-free online trades, Schwab charges $25 for broker-assisted trades — a steal compared to Fidelity's fee of $32.95. But what makes Charles Schwab one of the top companies like Fidelity, but better, is its variety of investment options, including futures and international stocks. And if you prefer some guided investment assistance, Charles Schwab doesn't charge a robo-advisor fee — but your portfolio must have a minimum balance of $5,000.
Annual fee$0 per month
Minimum deposit$0
Signup bonusGet a $101 bonus

Pros and cons of Fidelity

Check out what makes Fidelity a powerful trading platform and a few reasons why you might consider alternatives to Fidelity.

Pros

  • Mutual fund options include zero minimum investment and zero expense ratios
  • Intuitive and customizable platform
  • Robust research
  • 24/7 customer service

Cons

  • High robo-advisor advisory fee
  • High broker-assisted fee
  • No futures, forex or cryptocurrency

How to transfer your brokerage account

If you’re changing brokers, you’ll need to transfer your funds. The process may vary depending on the platform you’re currently using and the brokerage you’re going to. Fidelity doesn’t charge a fee to transfer funds to another account and close your current one. Fidelity uses the Automated Customer Account Transfer Service (ACATS) to transfer your funds. You’ll need to:

  1. Fill out a transfer initiation request with your new broker.
  2. Your new broker contacts your current broker to request your account assets.
  3. Your current broker processes your request.
  4. Your old broker deposits funds between five to 14 business days.
  5. Note: Your new broker may not accept proprietary mutual funds or ETFs from your old broker.

Compare trading platforms

11 of 11
Product Finder Score Available asset types Stock trade fee Minimum deposit Cash sweep APY Offer
Finder score
9 Excellent
Stocks, Options, Mutual funds, ETFs, Alternatives
$0
$0
0.01%
Get up to $1,000 in stock when you open and fund a new account. T&C apply.
Trade stocks, ETFs, and options with zero commissions, invest in IPOs or automate your portfolio, with exclusive perks available through SoFi Plus.
Go to site More info
Finder score
9 Excellent
Stocks, ETFs, High-yield cash account
$0
$500
4.00%
Get a $50 bonus when you sign up and fund a taxable automated investing account with at least $500.
Automate your stock and bond portfolio or trade individual stocks for as little as $1 apiece. Plus, earn 4% APY on your cash.
Go to site More info
Finder score
9 Excellent
Stocks, Bonds, Options, ETFs, Cryptocurrency, Investments, Retirement, Treasury Bills, High-yield cash account
$0
$0
4.1%
Get up to $10,000 and transfer fees covered when you move your portfolio to Public.
Build a diversified portfolio of stocks, bonds, options, ETFs and crypto, with a high-yield cash account and options contract rebates.
Go to site More info
OPTO logo
Finder score
7.2 Great
OPTO
Finder score
7.2 Great
Stocks, ETFs
$0
$0
4%
Earn up to $300 when you deposit between $2,000–$25,000+.
Copy top-performing portfolios or build your own stock index on Opto's AI-driven thematic investing platform, and get 4% APY on your cash.
Go to site More info
Interactive Brokers logo
Finder score
9.2 Excellent
Interactive Brokers GlobalTrader
Finder score
9.2 Excellent
Stocks, Options, Mutual funds, ETFs, Cryptocurrency
$0
$0
3.83% Lite
4.83% Pro
Trade in a simulated trading environment and access a wide range of tradable assets.
Go to site More info
eToro logo
Finder score
8.2 Great
eToro
Finder score
8.2 Great
Stocks, Options, ETFs, Cryptocurrency, Futures, Investments
$0
$0
3.9%
No commission stock, ETF and options trades, with 3.9% interest on your options account balance and no options contract fees. See full disclosure.
Go to site More info
Webull logo
Finder score
9.4 Excellent
Webull
Finder score
9.4 Excellent
Stocks, Bonds, Options, ETFs, Futures, Money market funds
$0
$0
Up to 8.10%
Trade stocks, ETFs and equity options commission-free, with access to futures, advanced charting tools, a robo-advisor and event trading powered by Kalshi.
Go to site More info
Zacks Trade logo
Finder score
8.2 Great
Zacks Trade
Finder score
8.2 Great
Stocks, Bonds, Options, Mutual funds, ETFs, CDs
$0.01
$250
2.83%
Get up to $1,000 when you open and fund an account. Terms apply.
Leverage powerful trading tools and low margin rates to trade stocks, options, ETFs, mutual funds and bonds.
Go to site More info
Robinhood logo
Finder score
9.4 Excellent
Robinhood
Finder score
9.4 Excellent
Stocks, Options, ETFs, Cryptocurrency, Futures, Event contracts, High-yield cash account
$0
$0
4%
Get a free stock when you successfully sign up and link your bank account.
Trade stocks, options, crypto and more, with advanced trading tools, fractional shares and exclusive perks for Gold members.
Go to site More info
Acorns logo
Finder score
8 Great
Acorns
Finder score
8 Great
Stocks, ETFs
$0
$0
N/A
Get a $20 bonus when you set up an account and make your first recurring investment (min. $5).
Automate investing with recurring contributions starting at $5 and invest spare change from everyday purchases.
Go to site More info
Stash Investments LLC logo
Finder score
7.4 Great
Stash
Finder score
7.4 Great
Stocks, ETFs
$0
$0
0.1%
Get $5 when you sign up and deposit $5.
Bank, automate your portfolio or invest in individual stocks and ETFs for as low as $3 per month.
Go to site More info
loading
Showing 11 of 11 results

What is the Finder Score?

The Finder Score crunches 147 key metrics we collected directly from 18+ brokers and assessed each provider’s performance based on nine different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then scored and ranked each provider to determine the best brokerage accounts.

We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.

Read the full Finder Score breakdown

Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.

Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

Kimberly Ellis's headshot
Written by

Writer

Kimberly Ellis is a personal finance writer at Finder, specializing in banking and financial literacy. After teaching in public and private schools, Kimberly zeroed in on personal financial education to help families and kids develop lifelong money skills. She hails from New York City, graduating summa cum laude from Queens College with a BA in elementary education and mathematics, as well as a New York State teaching certificate. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick. See full bio

Kimberly's expertise
Kimberly has written 59 Finder guides across topics including:
  • Kids' banking
  • Financial literacy for kids
  • K–12 education
More resources on Finder

Ask a question

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

More guides on Finder

Go to site