Fidelity vs. Robinhood: 2022 Comparison

Fidelity and Robinhood both offer commission-free trades. But Robinhood is a streamlined trading app, while Fidelity offers several platforms and a larger investment selection.
Apr 22, 2022

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Although Robinhood is typically thought of as a beginner-friendly investing app, Fidelity actually earned the title of Best Broker for Beginning Investors and the Best App for Investing in NerdWallet's 2022 Best-Of Awards. Robinhood may have an easier, quicker sign-up process, and its user experience is definitely built for a mobile-first generation, but Fidelity has several offerings you won't find at Robinhood: expense-ratio-free index funds, strong customer service, a large selection of research providers and — importantly — IRA accounts to help you save for retirement in a tax-advantaged way.

Fidelity
NerdWallet rating 

on Fidelity's website

Fidelity is best for:

  • Frequent traders.

  • Beginner investors.

  • Research and data.

  • Retirement planning assistance.

Fidelity at a glance

Account minimum

$0.

Stock trading costs

$0.

Options trades

No base commission; $0.65 per contract.

Account fees (annual, transfer, closing, inactivity)

None.

Number of no-transaction-fee mutual funds

More than 3,700 no-transaction-fee mutual funds.

Tradable securities

• Stocks.

• Fractional shares.

• Bonds.

• Mutual funds.

• ETFs.

• Options.

Crypto availability

Crypto-based products are available, but not cryptocurrencies themselves.

Trading platform

Fidelity.com and Active Trader Pro. Both free for all customers.

Mobile app

Available for iOS and Android; advanced features.

Research and data

Free and extensive.

Customer support options (includes how easy it is to find key details on the website)

Phone, email and live chat 24/7; 203 local branches.

Robinhood
NerdWallet rating 

on Robinhood's website

Robinhood is best for:

  • Mobile users.

  • Individual taxable accounts.

  • Margin accounts.

Robinhood at a glance

Account minimum

$0 for brokerage account and for Robinhood Gold account.

Stock trading costs

$0.

Options trades

$0.

Account fees (annual, transfer, closing, inactivity)

No annual, inactivity or ACH transfer fees. $75 ACAT outgoing transfer fee. (Robinhood Gold costs $5 a month.)

Tradable securities

• Stocks.

• ETFs.

• Options.

• Cryptocurrency.

• American Depositary Receipts for over 650 global companies.

• Fractional shares.

Crypto availability

7 coins in 48 states.

Number of no-transaction-fee mutual funds

Not rated.

Trading platform

Web platform is purposely simple but meets basic investor needs.

Mobile app

Mobile trading platform includes customizable alerts, news feed, candlestick charts and ability to listen live to earnings calls.

Research and data

News available from WSJ Markets, Reuters, Barron's, CNBC Business and Cheddar. Gold members have access to research from Morningstar, Nasdaq, Nasdaq Totalview level II Market Data for an additional $5 per month.

Customer support options (includes how easy it is to find key details on the website)

Email, social media, in-app request-to-call service 24/7.

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Merrill Edge
Fidelity
Webull
NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Fees

$0

per trade

Fees

$0

per trade for online U.S. stocks and ETFs

Fees

$0

per trade

Account minimum

$0

Account minimum

$0

Account minimum

$0

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Promotion

Get up to 12 free stocks (valued up to $30,600)

when you open and fund an account with Webull. Promotion ends 8/31/2022.

Methodology

How do we review brokers?

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

For more details about the categories considered when rating brokers and our process, read our full methodology.

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