Fidelity vs Robinhood 2024

Fidelity and Robinhood are two of the most popular stock trading apps in the US. I use both apps on a regular basis and will give my unbiased opinion on which online broker is best for you.

Fidelity vs Robinhood Comparison Chart

FidelityRobinhood (full review)
Trading Fees$0 for stocks; 65 cents per options contract$0
Mobile AppiOs & AndroidIos and Android
Account TypesIndividual, IRAs, Custodial, 401k RolloverIndividual
Customer Service24/7 phone supportEmail support
Trade Precious MetalsYesNo
Trade CryptoNoYes
Trade OptionsYesYes
Trade Mutual FundsYesNo
Trade ETFsYesYes
Trade OTC StocksYesNo
Dividend Reinvestment (DRIP)YesYes
Cash Management w/ Debit CardYesYes
Instant DepositsYesYes
Margin TradingYesYes

Best Fees & Pricing: Robinhood

Robinhood changed the entire financial industry by offering free stock & options trades from the beginning. Fidelity changed to free stock trades after many traders/investors jumped ship to avoid paying fees.

While Robinhood is not perfect, I find it hard to beat its 100% free trading structure. Fidelity offers free stock trades but you must pay a fee per options contract.

Best Trade Execution: Fidelity

Robinhood is free but its trade execution leaves a lot to be desired. Fidelity offers much better trading execution along with more order types.

There’s also the risk of Robinhood outages like what happened during the COVID-19 stock market crash.

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Best Extended Hours Trading: Fidelity

Fidelity offers premarket trading from 7am to 9:30am EST and after hours trading from 4pm to 8pm EST.

Robinhood offers premarket trading from 9am to 9:30am EST and after hours trading from 4pm to 6pm EST.

If you like trading before or after the market closes then Fidelity provides a lot more flexibility.

The only downside to Fidelity pre-market and after hours tradind is you cannot buy or sell fractional shares.

Fractional share trading is only available on Fidelity during regular market hours 9:30am to 4pm EST Monday through Friday.

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Best Customer Service: Fidelity

Fidelity offers top-notch 24/7 phone support for all Fidelity Investment accounts. Their customer support team answers any question you have and will also place trades for you ($35 fee for placing a trade with a customer service rep).

Robinhood offers some of the worst customer service in the entire brokerage industry.

They offer zero phone customer support and their customer support team takes around 3 days to respond to customer support tickets.

If you want 24/7 world-class customer service then go with Fidelity.

Best Broker for Retirement Accounts: Fidelity

Fidelity offers traditional IRA, Roth IRA, and SEP IRA accounts for retirement planning. You can track your annual contributions to make sure you stay on track for retirement.

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Robinhood doesn’t currently offer retirement accounts. It’s geared towards Millenials who haven’t thought about retirement planning yet.

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