Fidelity Investment vs. TradeStation

(February 2025)

In This Article

Our Verdict

When choosing a trading and investment platform, carefully weigh your options. This way, you can select the one that works well with your financial goals, and preferences. For what it’s worth, Fidelity, and TradeStation are two great options, each with strengths and weaknesses. After meticulously considering both platforms, it is clear that they both share the same score—no clear winner.

On one hand, you’ll find Fidelity Investment preferable if you’re a beginner trader. The platform comes with an easy-to-use user interface while offering commission-free trading for stocks, and ETFs. As part of its strengths, the platform helps you with strong research tools, and excellent customer support—based on user ratings.

On the other hand, TradeStation will work well for you if you want a platform that offers advanced trading tools, plus detailed analytics. You’ll also find the platform interesting if you’re an active trader, seeking advanced charting capabilities. That’s not all…you’ll also enjoy zero commissions on stocks, options, and ETFs.

From every indication, it’s a tie between Fidelity and TradeStation.

Why Choose Fidelity Investment

Who Fidelity Investment is Best For

Fidelity Investment may be the most suitable choice for you if you:

  • Are a beginner trader who seeks a simple trading platform that offers a wealth of educational resources.
  • Prefer to manage your portfolio(s) by leveraging Fidelity’s wide range of investment products and extensive research tools.
  • Plan to save for retirement by investing in various retirement accounts, such as IRAs, or 401(k).
  • Desire to invest in mutual funds, ETFs, or bonds for an extended period.
  • Need a managed account or robo-advisory services that cater to your long-term investment strategies.
  • Desire low-cost investment options include zero-commission on trades on U.S. stocks, ETFs, and options.

Who Fidelity Investment isn’t Right For

You may not find Fidelity Investment appealing if you:

  • Prefer a free trading platform with a simple and mobile-first design.
  • Love to invest heavily in cryptocurrencies considering Fidelity’s limited offerings.
  • Live outside the United States since Fidelity’s offerings are restricted from traders outside its jurisdiction.
  • Want a minimalistic, straightforward interface like Robinhood or Webull.

Why Choose TradeStation

Who TradeStation is Best For

Sign up with TradeStation if you:

  • Desire a reliable platform that helps you to build wealth in the long run by leveraging different trading assets like stocks, mutual funds, ETFs, and more.
  • Are an experienced trader who seeks a platform that offers advanced tools and features, such as real-time market data, advanced charting, and more.
  • Want a professional-grade kinda trading experience.
  • Seek a platform that offers a broad spectrum of asset classes ranging from stocks to ETFs, to options, and more.

Who TradeStation isn’t Right For

Go for other trading platforms other than TradeStation if you:

  • Need a beginner platform that offers less-overwhelming, beginner-friendly features and tools.
  • Desire a platform that is affordable and is devoid of too many fees or subscriptions which can add up to your total costs.
  • Are not an active trader which can attract costs such as inactivity fees, and so on.

Fidelity Investment vs. TradeStation: The Main Difference

 

Fidelity Investment

TradeStation

Ideal For

●       Beginner traders

●       Active traders

●       Long-term investors

●       Trading a wide range of assets.

●       Zero commission trading.

●       Experienced traders.

Pricing

Offers commission-free trades for online US stocks, ETFs, and option trades.

Provides zero expense ratio index funds.

Requires $0.65 per contract on options.

Takes $1 per bond or CD in secondary trading.

For a more detailed trading, use the following link:

https://www.fidelity.com/why-fidelity/pricing-fees

Trading Commission: Zero commission for trading stocks and ETFs.

Margin Rates: Access 6% margin rates to increase your buying power.

Service Fee: $5 per item for return mail fee, and $50 for un-cashed check.

 

Account Integration

 

 

TradingView

NinjaTrader

Banks

Fidelity Investment vs. TradeStation: Product Offerings

Fidelity Investment

Fidelity Investment comes with various products that enhance your experience while trading on the platform. Here are some notable classes of assets you can choose from:

  • Retirement and IRAs
  • Spending & Savings
  • Investing & Trading
  • Mutual Funds
  • Crypto
  • Direct Indexing
  • Fixed Income, Bonds & CDs
  • ETFs
  • Options
  • Sustainable Investing
  • Managed Accounts
  • 529 College Savings
  • Health Savings Accounts
  • Annuities
  • Life Insurance

TradeStation

Access a broad variety of product offerings whether you’re a beginner or an experienced investor. Find below, the different product offerings TradeStation offers:

  • Stocks
  • Options
  • Futures
  • Future Options
  • ETFs
  • Mutual Funds
  • Educational resources

Fidelity Investment vs. TradeStation: Standout Features

Fidelity Investment

Fidelity Investments is known for several standout features that make it an appealing choice for your trading needs. Find out below, some of the reasons to make this platform your preferred choice:

  • Offers low-cost index funds, including the Fidelity ZERO Index Funds, which come with no expense ratio.
  • Grants you access to online U.S. stock, ETF, and option trades at zero commissions.
  • Provides an extended variety of research tools, such as third-party research reports, advanced stock screeners, market analysis, and lots of educational materials.
  • Comes with both a web platform and a mobile app, giving you options wherever you want.
  • Has strong customer service, offering 24/7 support via phone, live chat, and in-person contact.
  • Offers a variety of retirement planning services, such as traditional and Roth IRAs, 401(k) plans, and annuities.
  • Renders automated investment management services for a relatively low fee via Fidelity’s robo-advisory service, and Fidelity Go.
  • Helps you to buy fractional shares of stocks and ETFs, allowing you to invest in small portions of expensive stocks.

TradeStation

Like Fidelity Investment, TradeStation has some standout features you may find appealing. These features make the platform a viable competitor in the marketplace.

  • Comes with advanced features for charting and technical analysis, such as custom studies, drawing tools, and technical indicators…helping you to analyze the market.
  • Offers RadarScreen® real-time scanning tool with which you can customize filters and alerts that allow you to spot good trading opportunities as they come.
  • Provides an extensive set of asset classes, including risk management tools, and sophisticated order types, which can be beneficial for you if you trade in derivatives.
  • Has the EasyLanguage® tool, also known as the proprietary programming language, helping you to design unique indicators, trading systems, and strategies—especially as an algorithm trader.
  • Lets you set up multiple monitors so you can tailor your trading to suit your strategies.
  • Allows you to customize your trading layouts and workspaces to stay in tune with your trading style.
  • Supports different kinds of orders including trailing stops, conditional orders, and bracket orders, helping you to carry out complex trading strategies.
  • Gives you a unified trading experience by allowing you to trade on major cryptocurrencies using advanced tools.
  • Helps you backtest your trading methods by providing historical data that helps you copy other trading methods.

Pros and Cons of the Fidelity Investment

  • Has a strong customer service.
  • Provides index funds with no expense ratio.
  • Comes with a highly-rated mobile app.
  • Charges zero commission on stocks, options, and ETF trades.
  • Has a wide selection of research providers.
  • Offers competitive interest rates on funds you didn’t invest.
  • Comes with a relatively high fee for broker-assisted trades.
  • Has restrictions for international investors.

Pros and Cons of TradeStation

  • Cater primarily to active traders.
  • Provides a wide selection of advanced trading tools.
  • Has a professional trading interface.
  • Demands zero commission for trading stocks, options, and ETF.
  • Offers extensive research capabilities.
  • Offers low interest rates for uninvested funds.
  • Comes with a not-so-easy-to-understand pricing description.
  • Takes a fee for investing in mutual funds.

Fidelity Investment vs. TradeStation: Customer Reviews

Regarding customer reviews, Fidelity Investment takes the lead over TradeStation. You can see the difference on Bankrate as Fidelity scores 5.0 out of 5.0 stars from a review James Royal, Ph.D carried out. You’ll also find out that the platform scores 5.0 out of 5.0-star rating on NerdWallet. You’ll love to see that Fidelity has 4.4 out of 5 stars on Forbes while scoring 4.8 out of 5 stars on Investopedia.

However, TradeStation has quite some reviews—though not as compared to Fidelity. TradeStation has a customer rating of 3.9 out of 5 stars on NerdWallet. On Trustpilot, the platform scores 2.3 out of 5 stars based on feedback from 228 customers. In addition, TradeStation fares better on Stockbrokers.com with 4.5 out of 5 stars, and on Forbes with 4 out of 5 stars.

Fidelity Investment vs. TradeStation Competitors

It is important to consider and compare the competitors of Fidelity Investment and TradeStation. That way, you can have broader options to choose from. Read on to find out more.

 

TD Ameritrade (Now Acquired by Charles Schwab):

Be aware that TD Ameritrade (now under Charles Schwab) is designed with advanced traders in mind. This means that by signing up with TD Ameritrade, you’re getting a sophisticated trading platform that comes with advanced research tools. You’ll also get to use its powerful desktop platform, and the ability to trade futures and options.

Similar to most trading platforms, you don’t have to pay commission fees on stocks and ETFs. You’ll also gain access to a wider market, and top-notch learning materials.

Keep in mind, however, that there’s a $0.65 fee per options contract. You’ll also love the fact that the platform has no hidden fees or charges for account or trade minimums.

 

Robinhood: Robinhood is a great pick if you’re after a simplified trading platform that charges $0 commissions for trading stocks, ETFs, and options. The platform recently included crypto trading into its pool of assets, providing you with even more options to expand your investment portfolio.

With Robinhood, you won’t have to worry about paying any fees or commissions for opening or maintaining an account. That means you can open an account, and run it for an incredible $0 fee.

While the above is true, there are three regulatory fees you’ll need to cover when using the Robinhood platform. First is the Financial Industry Regulation Authority (FINRA) fees. Second, the fees you pay to the issuing bank. Third, the Options Clearing Corporation fees. It will be proper and wise if you contact Robinhood’s customer support to know if there are any changes to any of these fees before taking any decision.

 

Webull: If you want a trading platform that’s curated for both beginners and advanced traders, you might want to consider Webull. The platform offers you a comprehensive, commission-free trading experience with advanced tools and features.

For trading hours, you have access to pre-market and after-hours, which extends your trading window beyond the regular market period. You may find the platform helpful if cryptocurrency trading is your thing.

Keep in mind that Webull charges a $0.55 per contract fee for trading certain index options. There are also regulatory agencies and exchange fees you must pay.

Pro Tips

  • Define what you want to achieve with your trading to help you have an effective strategy.
  • Take advantage of demo accounts to learn how trading works without risking real money.
  • Develop a trading plan that spells out your approach, which covers risk management, entry and exit points, and asset allocation.
  • Don’t forget to utilize the stop-loss orders to reduce your chances of losing much money.
  • Review your trades from time to time to understand what worked, and also see where you need to adjust.
  • Define what you want to achieve with your trading to help you have an effective strategy.
  • Take advantage of demo accounts to learn how trading works without risking real money.
  • Develop a trading plan that spells out your approach, which covers risk management, entry and exit points, and asset allocation.
  • Don’t forget to utilize the stop-loss orders to reduce your chances of losing much money.
  • Review your trades from time to time to understand what worked, and also see where you need to adjust.

Recap

Choosing between Fidelity Investment and TradeStation requires careful consideration of various factors. Fidelity Investment, on the one hand, is great to work with if you’re new to trading or have limited trading experience.

On the other hand, TradeStation is best suited if you’re an active trader and are an advanced trader. The best choice depends on your individual trading needs, experience level, and what features you value most in a trading platform.

Bottom line: Both platforms are good.

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