Choosing the right broker is crucial for investing success. I compare popular brokers Robinhood, Ally Invest and Fidelity on key factors like fees, investment choices, research tools and customer service to help you find the best fit. With detailed Pros & Cons and final verdict, this comprehensive comparison provides everything you need to make an informed broker choice.
Robinhood excels at usability with slick mobile app design
Robinhood pioneered free stock trading and has the most user-friendly mobile app. The clean interface, fractional share trading and automated investing makes Robinhood a top choice for beginner investors. But the limited research tools and lack of retirement accounts are downsides.
Ally Invest offers robust research tools and $0 trades
As one of the earliest online brokers, Ally Invest delivers $0 stock and ETF trades paired with extensive research capabilities like screeners, reports and education resources. However, the dated website and high mutual fund commissions drag down Ally Invest’s score.
Fidelity leads with account options, research and fractional shares
Fidelity emerges as the winner with its unparalleled account selection including HSAs, elite research platform, fractional share trading and stellar customer service reputation. The only drawback is high fees for active trading which impacts day traders.
For most investors, Fidelity offers the best overall package of $0 trades, fractional shares, top-tier research and excellent retirement accounts. Robinhood is great for new investors who value simplicity and fractional shares while Ally Invest suits those wanting robust tools without paying up for Fidelity.