Firstrade vs Fidelity – Which Brokerage Platform Is Best?

Updated June 13, 2024

In the dynamic realm of stock trades and ETFs, investors face a plethora of choices. Some promise unrivaled convenience, others unbeatable cost-efficiency. But where to turn for a robust investment strategy and cutting-edge platforms?

Two heavyweights emerge: Firstrade and Fidelity. In our comparison, we explore the unique advantages each offers.

Key Takeaways

  • Firstrade distinguishes itself with commission-free trading across stocks, ETFs, options, and a wide array of mutual funds.
  • Fidelity's established reputation brings to the forefront diverse international trading options and fortified customer service.
  • Both brokerage firms cater to different facets of investor priorities, with one emphasizing cost-saving and the other service breadth.
  • The decision between Firstrade and Fidelity depends on the investor's individual strategy and the value they place on services versus savings.

Commission-Free Trading



Asset Types

Stocks, ETFs, Options, Mutual Funds, Bonds, CDs

Stocks, ETFs, Options, Mutual Funds, Bonds, CDs, Forex

Research Tools

Extensive (market reports, analyst ratings, screeners, and more)

Robust (proprietary reports, third-party research, screeners)

Pre/After-Hours Trading



Fractional Shares



Current Promotion


Introduction to Firstrade and Fidelity

In today's financial services landscape, Firstrade and Fidelity emerge as notable brokerage firms. Each has distinct advantages suited to different investor needs. They provide platforms that revolutionize online trading, offering unmatched accessibility and services.

  • Firstrade: It boasts a market-leading position with zero commission fees for various trades. This includes stocks, options, and over 11,000 mutual funds. Targeting cost-conscious traders and online trading novices, it aims to open financial markets to all.
  • Fidelity: A renowned entity in the brokerage industry, Fidelity offers a vast range of trading tools. These include detailed research resources and superior customer support. It combines online trading convenience with the option for in-person consultations through its vast network of retail locations and 24/7 phone support, establishing itself as a comprehensive financial service provider.

Firstrade and Fidelity are committed to enhancing financial services through technology. They strive to make investment processes simpler and improve customer experience. Whether you're an experienced investor in need of extensive research tools or a novice seeking affordable trading options, these firms have solutions tailored to diverse financial objectives.

Trade Ideas provides a comprehensive suite of tools and services for active traders and investors, offering real-time market scanning, stock screening, and algorithmic trading strategies to help users identify potential investment opportunities in the stock market.

ABOUT the Trade Ideas

  • Rated A+ by the BBB
  • Reviewed by Benzinga 5-Star
  • Editors’ Choice Award from WealthUp
  • Earned over 8,000+ 5-Star Customer Ratings

Comparing Trading Fees and Commissions

Brokerage services vary in how they charge trading fees and commissions. This difference can influence investors' decisions on where to trade. Firstrade and Fidelity present distinct options in this arena. Understanding their fee structures is crucial for those aiming to reduce trading costs.

Firstrade's No-Cost Trading Advantage

Firstrade offers zero commissions on trades, including stocks and ETFs. This policy is especially appealing to new stock market participants. It's also valuable to experienced traders looking to save on costs. Firstrade's approach extends to mutual funds, available without transaction fees. This makes Firstrade an attractive choice for cost-conscious investors.

Fidelity's Approach to Trading Costs

Fidelity provides zero commission trades on stocks and ETFs. However, it charges $0.65 per options contract. Traders must account for this when strategizing their investments. Despite the fee for options, Fidelity remains a strong player. Its reliable trade support and extensive services attract a broad investor base.

Human Broker Assistance: Cost Comparison

Fidelity and Firstrade differ significantly in human-assisted trade costs. Fidelity's broker-assisted trades are priced at $29.95 each. Conversely, Firstrade's similar service is available for $19.95 per trade. Firstrade's lower fee showcases its dedication to affordable trading. It also provides an advantage for traders needing personal assistance.

Analyzing Mutual Fund Offerings

Strengthening financial portfolios often involves selecting suitable mutual funds. The comparison of offerings from two leading brokerage firms reveals the vast range of investment choices. This variety is crucial for investors aiming to diversify their portfolios.

  • Firstrade sets itself apart in the mutual funds arena by providing access to over 11,000 options. Each of these funds is available without any transaction fees. This is an attractive proposition for investors aiming to optimize their investment efficiency.
  • Fidelity offers a wide selection of over 10,000 mutual funds. Unfortunately, fewer than 20% of these are no-load and no transaction fee funds. The rest may incur fees of $49.95 or $75 per transaction. This highlights the additional costs some investors may face.

The difference in their mutual fund offerings highlights the need for careful platform selection, aligning with one's financial goals and preferences. For those prioritizing diverse financial portfolios without high fees, no transaction fee funds offer an appealing option. Both firms serve various financial needs, but their cost-effectiveness varies markedly.

Research and Educational Resources

In the competitive financial landscape, access to comprehensive investment research and educational tools is crucial. Both Fidelity and Firstrade understand the significance of providing their clients with vital financial information and analyses.

Fidelity's Extensive Research Tools and Education

Fidelity excels by offering an extensive set of research tools and educational materials. This is to boost investor intelligence and market analysis skills. Free access to premium reports from leading experts like Zacks and Morningstar is available. Fidelity furnishes investors, whether beginners or experts, with an abundance of valuable information.

Additionally, their online learning center features:

  • Webinars on various investment topics
  • Advanced video tutorials to improve trading proficiency
  • Detailed articles aimed at enhancing financial literacy

These offerings aim to impart crucial trading knowledge and insights. Consequently, they aid investors in adeptly maneuvering through market complexities.

Firstrade's Research Capability Comparison

Though Firstrade provides a more concise toolkit, it predominantly utilizes Morningstar for its financial insights. This offers solid market analysis and investment research. Yet, the absence of third-party reports places Firstrade at a disadvantage compared to Fidelity's extensive resource range. Firstrade's key research features are:

  • Morningstar's fundamental financial data and analysis
  • A select series of educational webinars to aid investment choices

Despite a more streamlined approach, Firstrade remains a viable choice for those after no-frills, effective investment strategies and insights.

Customer Support and Service Quality

Firstrade and Fidelity ensure timely investment aid and quality customer support through their service networks. The extent and accessibility of their support systems differ, showing their focus on distinct investor groups and strategies.

Accessibility of Fidelity's Support Network

Fidelity provides a wide-reaching customer support network, available 24/7. Their commitment to customer satisfaction is visible in their various communication channels. These channels aim to enhance the investor experience and offer crucial support.

  • 24/7 phone service ensures that help is always just a call away, regardless of the time.
  • Online chat features allow for real-time problem-solving.
  • Email support caters to those who prefer a digital paper trail.
  • Over 180 retail locations provide a physical presence that contributes to a substantial service network across the U.S.

Availability of Firstrade Customer Service

Although Firstrade's customer service operates mainly within business hours and lacks physical stores, it still offers robust support through diverse channels:

  • Email and live chat provide direct contact options during regular business hours.
  • Telephone support offers personal guidance on weekdays, supporting a range of investment assistance needs.
  • The option of fax and snail mail remains, catering to those who might not prioritize instant response times.

Understanding the differences between Firstrade and Fidelity's operations can help investors pick a service that matches their lifestyle and investment approach.

Utilizing Trading Tools and Platforms

In the fast-paced world of financial markets, robust trading platforms are a must for effective trading online. Fidelity and Firstrade present unique tools that serve various trader needs, significantly improving their trading journey.

  • Fidelity's Active Trader Pro: Tailored for the active trader, this platform offers advanced analytics, real-time data, and customizable charts for swift trading moves. It's recognized as a top application for traders seeking in-depth tools.
  • Firstrade's Quick Bar: Located at the browser's bottom, the Quick Bar enables easy and efficient trading. It's ideal for those valuing simplicity and speed over complex features.

Fidelity appeals to traders wanting comprehensive analytics with Active Trader Pro. Firstrade attracts those desiring a straightforward platform for fast decisions. Choosing depends on one's trading style and needs.

Banking Features and Account Management

Choosing the right banking services in today's market is crucial for efficient financial management. This includes selecting robust cash management accounts. Services such as FDIC insurance greatly enhance security and are key in deciding on providers like Firstrade and Fidelity. Here, we compare the cash management features of these two financial institutions.

Fidelity's Cash Management Account Perks

  • Free checks and a Visa Gold debit card, significantly reducing typical account fees associated with banking transactions.
  • Extended security through FDIC insurance up to $1,250,000, offering considerable peace of mind and financial management security.

Firstrade's CMA Requirements and Fees

  • High entry requirements with a $25,000 initial deposit needed to open a Cash Management Account, which can be a barrier for new or average investors.
  • Additional fees for services like issuing a Visa Gold card and checks, which could deter clients who are sensitive to extra costs.

Mobile Trading Experience

Both Firstrade and Fidelity have upgraded their mobile platforms significantly. This ensures traders enjoy intuitive experiences and seamless access to accounts. Today, mobile trading apps are not just trends; they're essential in the swiftly evolving financial world.

  • Fidelity's Mobile Platforms: Fidelity offers apps for Apple, Windows Phone 8, and Android devices. These apps let users execute trades, manage fund transfers, interact with customer service, and deposit checks via mobile. Such comprehensive access allows users to manage their investments efficiently from anywhere.
  • Firstrade's Intuitive Trading Apps: Firstrade's mobile applications, built for Apple and Android devices, prioritize simplicity. They concentrate on essential functions like order placement and account review, excluding features like bill pay or mobile check depositing. This approach caters to users who prefer direct trading actions over comprehensive service options.

The mobile offerings from each platform are designed to meet different user preferences. Users seeking full account management services may prefer Fidelity for its extensive mobile features. Conversely, those who value simplicity and core trading functions on-the-go might favor Firstrade's intuitive apps.


Exploring the realm of brokerage selection necessitates a balance between one's financial ambitions and what Firstrade and Fidelity offer. For those whose investment strategy prioritizes cost efficiency, Firstrade emerges as a noteworthy choice. It's their competitive pricing and vast mutual fund options that appeal to investors mindful of their budgets.

Fidelity, on the other hand, serves a broad spectrum of investor needs with its offerings. Its wide-ranging research, detailed educational materials, top-notch customer service, and advanced trading tools make it a go-to for those seeking a comprehensive trading environment.

In sum, Firstrade and Fidelity cater to various investment styles and preferences, whether the focus is on saving costs or accessing a wide array of services. Hence, the choice ultimately lies with the investor. It's about selecting a brokerage that aligns with one’s financial goals and investment strategy.


  • Service: Brokerage Platform
  • Pricing: $0-$79/month
  • Promotion: None

Related Posts