Interactive Brokers vs Fidelity 2024

Comparison of Interactive Brokers vs Fidelity 

Assets Offered

When it comes to investing, having a diverse portfolio is key. That’s why trading platforms like Interactive Brokers and Fidelity offer a wide range of tradable assets for their clients. From stocks to bonds, mutual funds to options, there are plenty of investment opportunities available.

Interactive Brokers offers an impressive selection of tradable assets including stocks, bonds, mutual funds, options, ETFs, metals, forex, fixed income securities and even hedge funds. With futures in over 35 market centers around the world you can trade at any time during the day or night.

Fidelity also provides its customers with an array of investment choices such as long and short stocks. They also have corporate treasury municipal CDs bonds that you can invest in along with single-leg and multi-leg options trading capabilities. Additionally they provide forex trading services where you can trade up to sixteen currencies across one hundred ninety pairs through four different live brokers.

Both platforms offer unique features that cater to investors’ needs – Interactive Brokers has access to futures markets while Fidelity allows fractional shares on mobile apps which makes it easier for small-scale investors who want exposure without committing large amounts upfront.

Overall, both these platforms provide comprehensive tradable asset offerings that allow investors the freedom they need when selecting investments for their portfolios.

Fees And Commissions 

When it comes to investing, one of the most important factors to consider is the cost associated with trading. This is where discount brokers like Fidelity and Interactive Brokers come in – they offer lower-cost trading services that can help investors save money on commissions.

Both Fidelity and Interactive Brokers offer discounts based on the number of trades completed or lower-cost trading services. However, there are some differences between these two brokers when it comes to their fee structures.

Interactive Brokers charges a minimum monthly fee of $10 if an account generates less than $10 in commissions per month. On the other hand, Fidelity does not have any monthly fees for its brokerage accounts.

In terms of commission-free ETFs and NTF (no transaction fee) mutual funds, both brokers offer them as well. However, there are some variations in their offerings.

Fidelity offers commission-free trading for its own ETFs as well as iShares’ ETFs while Interactive Brokers’ commission-free list is dominated by Global X ETFs, Cambria, and O’Shares ETFs.

It’s also worth noting that both brokers have different requirements when it comes to opening a brokerage account. 

Overall though both companies provide excellent value through their low costs which makes them great choices for investors looking to maximize their returns without breaking the bank.

Regulation And Security

When it comes to investing, security regulations are a crucial aspect that every investor should consider. In today’s world, where fraud and scams are rampant, it is essential to choose a broker that adheres to strict regulatory standards.

Both Interactive Brokers and Fidelity have an excellent reputation for providing top-notch services while complying with all necessary regulations.

Interactive Brokers is a member of NYSE – FINRA – SIPC and is regulated by the US Securities and Exchange Commission (SEC) as well as the Commodity Futures Trading Commission (CFTC). This means that they follow stringent guidelines set forth by these regulatory bodies, ensuring their clients’ safety and security at all times.

Similarly, Fidelity is also an SEC registered broker-dealer and a member of NYSE-SIPC. They have been around since 1946 and have built up an impressive track record over time. Their adherence to regulatory standards ensures their clients can trust them with their investments without any worries.

Investors looking for reliable brokers need not look further than Interactive Brokers or Fidelity. These two companies provide investors with peace of mind knowing that their investments are secure under the watchful eye of regulators who ensure compliance with industry best practices.

Customer Support

When it comes to choosing a broker, customer support is an essential factor that should not be overlooked. In this section, we will compare the customer support services offered by Interactive Brokers and Fidelity.

Interactive Brokers offer customer support for U.S. clients from 7:00 am until 7:00 pm CST on weekdays which means you can easily reach out to them during business hours if you have any queries or concerns. Additionally, they also provide shorter Sunday sessions which could come in handy if you need assistance over the weekend.

For those outside the U.S., Interactive Brokers has phone numbers available along with service hours so that customers can get help when needed. They also have a chatbot called iBot available to answer basic questions quickly and efficiently.

On the other hand, Fidelity manages approximately 200 offices across multiple states in the U.S., providing their customers with easy access to physical locations where they can receive face-to-face assistance from representatives. They offer 24/7 phone support as well as human chat service (with fewer hours) so that customers can choose how they want to communicate based on their preference.

Fidelity’s website has a robo chat system and self-service section equipped with links leading directly to common requests such as account balances or transaction history making it easier for users who prefer self-help options rather than contacting customer service directly.

Overall both brokers provide excellent customer support services but differ slightly in terms of availability and accessibility depending on your location and preferred mode of communication. It ultimately boils down to personal preferences when deciding between these two highly regarded brokerage firms.

Conclusion

In conclusion, Interactive Brokers and Fidelity are both popular options for investors looking for a reliable and trustworthy online brokerage. Both platforms offer a wide range of investment options, including stocks, bonds, options, mutual funds, and ETFs. However, there are some key differences between the two.

Interactive Brokers is a great choice for experienced investors who want access to advanced trading tools and low fees. With its powerful trading platform and extensive research tools, Interactive Brokers is a good option for traders who want to make the most of their investment portfolio. It also offers access to global markets and a wide range of currencies, making it a great choice for international investors.

On the other hand, Fidelity is a better choice for beginner and intermediate investors who want access to a wide range of investment options and comprehensive educational resources. Fidelity offers an easy-to-use platform and a range of investment products, including mutual funds and ETFs. It also offers extensive research tools and educational resources to help investors make informed decisions.

Ultimately, the choice between Interactive Brokers and Fidelity will depend on your investment goals and experience level. Regardless of which platform you choose, it’s important to remember that investing comes with risks, and it’s crucial to do your own research and make informed decisions. Both Interactive Brokers and Fidelity offer robust tools and resources to help investors make informed decisions, but ultimately, the responsibility for investing decisions lies with the individual.