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Robinhood vs Fidelity 2021 - What You Need to Know!
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- เผยแพร่เมื่อ 29 มี.ค. 2021
- In this video, I discuss Robinhood vs Fidelity. Both are fantastic brokerages for investing in stocks but they have major differences that you need to know.
The first step in comparing Robinhood vs Fidelity for beginners is looking at their fees. Both of these brokers are technically $0 commission brokerages but they have little fees that you need to know about.
Robinhood offers free trading and investing for stocks, ETFs, options, and even cryptocurrency. So if you're a beginner investor and would like to buy stocks and Bitcoin, then Robinhood might work for you.
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For $5 per month, you can get Robinhood Gold which allows you to invest with margin. This is a big difference for Robinhood vs Fidelity.
Fidelity offers free trading for stocks, mutual funds, ETFs, options, and bonds, but they will charge a small fee for trading options contracts. This is another difference between Fidelity vs Robinhood.
Both of these $0 commission brokerages have no inactivity fee and no annual fee, making them great for beginner investors.
Next, let's take a look at the features of Fidelity vs Robinhood. First of all, you can invest in a wider range of securities with Fidelity. With Fidelity, you can invest in bonds, mutual funds, and over-the-counter stocks which you cannot do on Robinhood.
However, you can trade cryptocurrencies like Bitcoin and Ethereum on Robinhood which you cannot do on Fidelity. Both of these brokerages offer fractional shares which TD Ameritrade and Etrade do not allow. This is one area where Robinhood and Fidelity are better than TD Ameritrade and Etrade.
The next thing we evaluate in Robinhood vs Fidelity is the security of your investments. The best brokerage in this respect is Fidelity because Robinhood is known for security problems.
Then, it's time to compare the mobile apps of these two commission-free brokerages. This is one area where Robinhood easily takes the cake. The Robinhood app is amazing and the Fidelity app is average. This is one reason why the Robinhood app has become so popular among young, beginner investors. The mobile app is great.
Lastly, we compare and contrast the customer service of Robinhood vs Fidelity. Fidelity has great customer support while Robinhood does not. This, along with security, is very important for investors who have a lot of money in their investing accounts.
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 brokerage for you depends on what your personal interests are. Hopefully, this video helped you learn about Robinhood vs Fidelity and will help you on your journey to pick the best brokerage app.
If you enjoyed this video, then, please...
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Thanks for watching!
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Just transferred to Fidelity from Robinhood. Fidelity is definitely going to be a learning curb, but it’ll be worth it in the long run.
Definitely more complex, but for a lot of people, worth it
Hey quick question, how long did it took the transfer?
@@eduardoramirez4281 I think around 3 business days
@@shawboy8493 thank you very much !!
If you tranfer, what happens to the average price of your stocks? will it be the same?
Fidelity will only cover the transfer fee if you transfer over $25K+...
last time I checked. That is how I got my M1 Finance transfer fee covered by Fidelity.
Good to note, thanks for watching man
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What type of account do you need to open for commissions free fidelity
Why does no one mention the fact that Fidelity puts your money in your account the same day instant access for trading while you have to wait nearly a week for robinhood to give you access to your money. That's a big deal for me. Robinhood removed the money from my bank and yet I have to wait 5 days! What are they doing with my money?
He'll assist you for free
Absolutely wonderful comparison
Thanks for watching!
Great info. Thanks Joey.
Damn Robinhood don’t sound to bad 🤣
Great breakdown bro!! 🔥🔥
Thanks CJ!
Fidelity wins in every category outside of Cryptocurrency and easy user experience for the cellphone app.
Pretty much, but that app is just so good. I wish Fidelity would get on board with that. Thanks for watching!
Fidelity charges for options
Orders aren’t good till canceled across sessions after hours
Limited extended hours
No same day options 0dte
@@darknessfierce4209 You lose more if you buy options frequently, especially with high POF with Robinhood. Your other option points I agree with.
Fidelity is better at trading non-option trades due to better charts and faster order execution. Also tax protected accounts for long-term investing into index mutual funds and REITs (O, VNQ, FREL, or XLRE).
Thank you for the video! It makes things clear.
Very informative. Thank you.
I have Robinhood as a beginner and I love the app … however all the scrutiny they speak on it makes me want to use my fidelity for the long run … I have Schwab as well but I don’t like the mobile app lol
Very neat presentation
Thanks for watching!
Thank you 🙏🏻😇
Thank you!!
Happy to help
Thanx Joey!
Thanks for watching!
Nice video! A quick question about the investable money transfer if to Fidelity brokerage account, would it be instantly available for me to buy stocks like what Robinhood Gold offers?
It’s instant for me!
You can find that tragic too in Robinhood
What about fidelity vs Webull ?
Robinhood lost me during the GME fiasco in early 2021.
It was the clearing house that screwed over RH.
very good video
Is the $.65 a one time fee?
Options are .65 a contract each trade
Thanks
What type of account do you need to open for the commission free in fidelity.?
Any type. You can start an IRA or just a normal brokerage account. Its all free. They do slip in a .01 fee when you sell and if it takes 9 buys to fill your order that's. 09 charge.
when you make a video of VANGUARD??
Inactivity fee? WTF? Who's idea was that?
Investing before Robinhood took over was rough haha
Honestly
For all the good RH has done for trading, they still scummy as long as Citadel uses Vlad as a sock puppet
Get off RH if you don't want your trades screwed over.
Do both platforms allow short selling?
Ok I have doge and a lil bit of Bitcoin. If fidelity doesn’t offer crypto and I want to make the transfer, what will happen to my crypto holdings? I heard after you make the transfer, Rh restricts your account
I'm not sure but Fidelity can't support crypto so I'd do some research. Thanks for watching!
Never buy crypto on robinhood. You don’t actually own the crypto (think of it as an IOU) and you cannot transfer it off of the platform which is a key point of crypto in the first place.
Your crypto positions will likely be sold and transferred over as cash to your fidelity account. What I did to avoid liquidating my RH crypto, I conducted a partial transfer. A little more work but definitely worth it
choose partial transfer to leave your crypto in your broker or choose complete transfer then it will sell your crypto then close your account
Asset allocation: not very useful, unless you’re trying to reach a certain allocation.
I feel like a boomer because I see this everyday…
What are your thoughts on $LTNC
Never heard of it so I'm not sure, but thanks for watching!
Does Fidelity offer instance access to the funds
Yes! That's one thing noone mentions in the comparisons. Robinhood holds your money hostage for nearly a week and fidelity gives you instant access to it. Fidelity also puts it back in your bank account the same day you make a transfer.
@@Austinandpup do you need margin inorder to use unsettled funds in fidelity?
@@joegates96 nope
@@joegates96 if you sell a stock the cash is available immediately. Of course if you buy a new stock with that unsettled cash you will get a notification saying, "you're placing an order with unsettled cash, if you sell this stock before it settles you'll receive a good faith violation."
@@joegates96 three good faith violations will restrict you from using unsettled cash for 90 days.
its not free!
What do you think about Acorns?
Overrated. High account fees, and underperforms an 80/20% split with VTI & VXUS.
It's cheaper to open an IRA with Fidelity and invest into FSKAX.
@@akin242002yup
I'm not an expert at stock but I became a millionaire investing in it as a beginner, from what I've witnessed it all comes down to having a good Licensed financial manger/ Broker to Manage your portfolio thanks to the popular Lanngel mark, I will be counting my second million before the end of this year.💯✅
That is incredible, i am interested in working with an expert, how were you able to connect with your broker.
@@chen3956 My broker is well known as Lanngel Mark, you can look him up online
Thanks a lot. did quick research on him and i found his website, i can also able to reach him from there 💯
wow I learnt about Lanngel Mark early 2020 I and a colleague of mine invested $100k each into his brokerage and he doubled it in months, i heard he is a day trader too. He is finally getting the popularity he deserves.
What about Vanguard! Ever hear about it? LOL
Fidelity must better
Solid option for sure. Thanks for watching!
No comparison! FVCK ROBBING HOOD!
Robinhood is garbage. Go to another company