Etrade vs Fidelity - What You Need to Know!
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- เผยแพร่เมื่อ 17 ส.ค. 2024
- In this video, I break down Etrade vs Fidelity. Both Etrade and Fidelity are great brokerages for beginners that have clear pros and cons.
The first way I compare Etrade vs Fidelity is by looking at their fees. The fee structure of Etrade and Fidelity are pretty similar but there are some distinct differences. Both are technically $0 commission brokerages and allow you to trade stocks and invest fee-free, but there are some catches.
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While it's free to trade options, you will be charged a 65 cent options contract fee and you also get charged a fee for trading stocks over the counter.
Overall, their fees aren't too bad and are still considered $0 commission brokerages. They're great for investing beginners, options, and IRAs.
Next, I explain the features of Fidelity vs Etrade. In this section, I compare what you are able to trade with Etrade vs Fidelity. With both brokerages, you get to trade stocks, ETFs, funds, bonds, and options. But, the difference between Etrade and Fidelity is with futures.
With Etrade, you can invest with futures which you cannot do with Fidelity. This is great and all, but neither of these brokerages have great trading options. With other $0 commission brokerages like TD Ameritrade and Robinhood, you can invest in more complex stuff like forex with TD and cryptocurrency with Robinhood.
Third, I compare the customer service of Fidelity vs Etrade. Both of them have 5/5 stars regarding customer support with Nerdwallet. One of the big differences between Etrade vs Fidelity in this section is that Fidelity has significantly more local branches than Etrade does.
Lastly, I compare the Etrade mobile app vs the Fidelity mobile app. Both apps are decent but are subpar compared to newer brokerages like Robinhood. Both apps get the job done but Fidelity offers an interesting tool called Virtual Assistant.
Nothing in this video should be taken as financial advice or any kind of advice. This video and everything I say in it is meant for informational and entertainment purposes only. Facts may or may not be true and could change after posting the video.
In the end, the best fee-free brokerage for you depends on your unique priorities. This video was meant to compare Etrade vs Fidelity and help beginners get into investing and buying stocks on the stock market.
Thanks for watching!
Please LIKE AND SUBSCRIBE :)
If you liked this explanation of Fidelity vs Etrade, then you might like these other videos I made:
Robinhood vs Etrade
• Robinhood vs Etrade - ...
TD Ameritrade vs Etrade
• TD Ameritrade vs Etrad...
TD Ameritrade vs Fidelity
• TD Ameritrade vs Fidel...
TD Ameritrade vs Robinhood
• Robinhood vs TD Amerit...
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I'm here because fk Robinhood and it's restrictions
RT
Who's here after RobinHood "Robbed The Hood?"
Me
crazy
Me for sure
Fidelity seems like a better move for me or anybody really looking to get off RH Webull & Public
Thanks Joey, very helpful and answered many questions. Definitely a huge a plus to have the fractional share option.
Great to hear, those fractional shares are crucial
Your tutorials are straight to the point no king dramas involved
Thanks
For sure, thanks for watching!
You have such a cinematic voice! I subbed as soon as you started talking
Appreciate it, thanks for watching!
As someone who is trying to get into investing for the first time I have found these videos to be a great place to look up where to possibly start
Awesome!
I appreciate your analysis, really well put together 👍🏼
Thanks for watching!
All about these comparable videos as you can really see they next to one another if you've never experianced them. BTW love the intense music in the beginning haha Great video!!
Haha thanks Ella!
Love all the comparison videos 🙏 would love to see a video on maybe how you advanced through the stock market. Like how you began, to different phases, to where and how you are investing now
That’s an interesting idea, thanks!
Awesome video. Subscriber #587. We have Fidelity over here in the UK but I haven't heard of Etrade.
Have a wonderful 2021!
Fidelity is fantastic, thanks for watching!
Appreciate these videos brudda
Thanks for watching!
Never heard much about etrade tbh, always see fidelity though, nice breakdown!
Yup, I have a Fidelity account. Thanks for watching
Thanks for the break down man, salute 🍻
Thanks for watching!
Thanks for the video dude. Very quality content and ever since this shitshow with robinhood been going on I figured its time to move on.
Fr, thanks!
Would love to see some comparisons between TD and Fidelity with Charles Schwab
Videos coming soon!
Thank you for this video.
Thanks for watching!
Etrade and fidelity both have the worst customer service. It’s almost third days i am trying to contact them and put my phone on hold hoping maybe someone answers. But nobody answers.
Today I try again by calling fidelity to get some technical assistance they have frozen my account. It took 1hr and 45 minutes till my phone died.
I am looking forward to know how people complain so i can submit mine.
Wow that sounds awful
I am learning thank you
Thanks for the info!
Thanks for watching!
Fidelity wins easily! Outside of option/future trading, Fidelity is better in ever other way.
- Fractional shares for all stocks & ETFs, and limit orders with them.
- GOOD 24/7 customer service that actually answers the phone.
- Better for day/swing trading due to drastically faster order execution.
- Zero expense Index mutual funds for IRAs.
Great points, thanks for watching!
Fidelity does have charges. They watch their account like hawks. If you new find a brokerage that won't nail you for free ride violation and all the others especially PDT rule. Once you are labelled PDT that's what you are...need to spread your trade orders accross a couple different brokerages if you actually want to day trade.. It is what it is........keep that in mind. I don't have the 25,000 to cover me from the PST rule. I am close but just not there yet. Other than that I think they are pretty good. I like the ability to set up my trading platforms in multiple ways. If anyone wants to know about PDT rule etc let me know. Cheers to you all and may you get wealthy my dear friends. Milkman leaving the milk outside your door.
I still don't understand why Fidelity wants $50.00 fee to trade OTC
Great video! Are the charting tools web-based or do you have to download a program?
I believe you have to download them onto your computer, not sure though. I know that’s how ThinkOrSwim from TD ameritrade works. Thanks for watching!
Hi Joe, thanks I really enjoyed your snippet! I really did a little research on both brokers? I want to invest, and I am very excited knowing $100 deposit startup may increase my income! Fidelity had been deferrable compared to Etrades fees and policy? Can you reply for each brokers terms and agreements on where to read the fine print?
Also, do Schwab!
Great idea!
Etrade now sucks. Low interest on sweep accounts and the last time I called it was a 70-minute wait. Options level 2 approval 4 months. Sad but I'm transferring out now.
I got to see this video.. as RH fucked me this week had huge profitable loss... looking for alternative
The one question I was looking for is, does fidelity charge for OTC stocks?
Not sure why it's so difficult to find :/
I called them, they said not on the majority of their otc stocks. But there are the occasional few that will pop up from time to time that charge them so they have to charge us.
Interesting, thanks!!
I found out Fidelity doesn't charge for OTC or reorganization. That's the main reason why I'm moving to Fidelity. I'm losing with E-trade. It also takes about 3 hours to reach customer service - then, they are rude.
Is the 65 cents per contract x100 or is it actually just 65 cents? And why does it say free options trading but charges per contract anyway?
The options contract fee is for each contract you open, not the shares. So typically if you're just buying 1 contract, it is $.65 to open and then .65 fee to close for a grand total of $1.30. I believe it's $0 to exercise the contract or let them expire at both brokers but I'd definitely double check.
It's tricky because the contract price is based on the amount of shares. So if you're buying a contract priced $.50 on the market, the cost of that contract is $50 because .50 x 100 shares = $50. So if you're buying a call, the most you're in for is $50 (for the contract) plus another $1.30 (broker option contract fees) at most to open and close the contract for a grand total of $51.30. You only need the contract to go up 1 cent from the purchase price to about break even on the trade after fees.
@@Justin-bg4jx Gotcha. Thanks. Also idk if you can double check this to confirm, but Fidelity has similar fee structure but on their "tiny type" fee page, they say they only charge $0.65 on options priced $0.65 and up. I know we're talking cents here but i just gotta know lol
Fidelity of course cause E*Trade doesn’t have fractional shares
Not sure if you've been told before, but you look straight out of a Roman statue! Handsome guy
Thank you!
the sound effects were too much. I thought I was watching a movie...
Noted
I like the effects and music 💚