If you're considering opening a brokerage account at E*TRADE or Fidelity, you should know there's no wrong choice: Both brokers offer competitive features for investors, including quality trading platforms, commission-free trading of stocks and exchange-traded funds and a wide selection of no-transaction-fee mutual funds.
Here's a direct comparison of the two brokers:
E*TRADE is best for:
- Frequent traders.
- Research and data.
- Retirement planning assistance and educational resources.
E*TRADE at a glance
Account minimum | $0 |
Stock trading costs | $0 |
Options trades | $0.65 per contract (volume discount available) |
Account fees (annual, transfer, closing, inactivity) | Annual fee: $0 Inactivity fee: $0 Closing fee: $0 |
Interest rate on uninvested cash | 0.01% to 0.15% |
Number of no-transaction-fee mutual funds | Nearly 6,000 |
Tradable securities | Stocks, mutual funds, ETFs, options, bonds, futures and crypto |
Trading platform | Two: E*TRADE and Power E*TRADE |
Mobile app | Available for iOS and Android |
Research and data | Nine research providers, including Moodys, Refinitiv, Morningstar, MarketEdge and Smart Consensus |
Customer support options (includes how easy it is to find key details on the website) | 24/7 phone support; live chat Monday through Friday, 8:00 a.m. to 8:00 p.m. Eastern. |
IRA match | None |
» Read our full review of E*TRADE
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 | $0.65 per contract |
Account fees (annual, transfer, closing, inactivity) | Annual fee: $0 Inactivity fee: $0 Closing fee: $0 |
Interest rate on uninvested cash | Rates change frequently. For the current rate, check the 7-day SEC yield for Fidelity's SPAXX money market fund, its default account for idle cash. |
Number of no-transaction-fee mutual funds | 3,220 |
Tradable securities | Stocks, mutual funds, ETFs, options, bonds and fixed income, precious metals, crypto |
Trading platform | Three: Fidelity.com, mobile app, Fidelity Trader+ |
Mobile app | Available for iOS and Android |
Research and data | Several data providers, including Argus, Zacks, CFRA and S&P Global |
Customer support options (includes how easy it is to find key details on the website) | 24/7. Hours vary by contact method, but you can get help via phone, email, chat, over social media or at a physical branch. |
IRA match | None |
Brokerage firms | |
|---|---|
» Read our full review of Fidelity
» Want to compare more options? View our full list of the best online brokers.
Methodology
Methodology
How do we review brokers?
All NerdWallet reviews and lists of the best investing products are created by our editorial team of full-time writers and editors, independent of any business relationships. In this case, our investing team'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, balanced assessment of brokerages to help arm you with information to make sound, informed judgments on which ones will best meet your needs. Our highest priority is maintaining editorial integrity.
We collect data directly from brokerages through detailed questionnaires and conduct first-hand testing and observation through demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the brokerages and our specialists’ hands-on research, fuel our proprietary assessment process that scores each broker's performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
