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Fidelity and Vanguard are both among the largest financial services firms in the world, each serving over 50 million individual investors. At $15.1 trillion, Fidelity has more 澳洲幸运5官方开奖结果体彩网:assets under administration (AUA) compared to Vanguard’s $10.1 trillion, but both firms are renowned for their broad range of low-cost mutual funds, ETFs, and investment advice.
Though the companies have some similarities, they fundamentally differ in their approaches to investing. Vanguard advocates longer-term investing using index funds, while Fidelity offers a wide array of services for both investors and active traders alike. Unsurprisingly, Vanguard doesn’t support crypto trading, whereas Fidelity’s clients have access to digital coins like Bitcoin, Ethereum, and Litecoin.
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- Account Minimum: $0
- Fees: $0 for stock/ETF trades, $0 plus $0.65/contract for options trades
Fidelity: Pros & Cons
Robust research tools for trading sto൲cks, ETFs, options and cryptocurrenc🔜y
Highly competitive trade executions
Easy-💧to-use platform with excellent customer support
Futures trading is unavailable
Quotes delayed by 15 minutes
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- Account Minimum: $0
- Fees: $0/stock and ETF trades, $0 plus $1 per contract for options
Vanguard: Pros & Cons
Wide variety of low-cost ETFs and index funds
Solid trade execution
Updated website is much easier to use
Fewer asset types
Lacking infrastructure for traders
Mobile app can be improved
Vanguard vs. Fidelity: Usability
Opening and funding a Vanguard account online isn’t difficult, but it will take several days before you can start investing. By contrast, the process is more streamlined with Fidelity, though both brokers require additional documents for options trading or margin privileges. Vanguard's updated website is more pleasant to look at, but ease of navigation is still hindered by the weight of legacy content and functions. Fidelity's website is easier to use and offers superior tools and resources, accommodating a broader range of investors.
Usability Verdict: Fidelity
While Vanguard’s website is well done, Fidelity offers both better navigation and more robust functionality.
Vanguard vs. Fidelity: Trade Experience
Desktop Trade Experience
Vanguard caters primarily to 澳洲幸运5官方开奖结果体彩网:buy-and-hold investors, which explains why the platform lacks real-time data and a user-friendly order entry tool. It's perfectly suitable for passive investors but will not be ideal for active traders. Fidelity, on the other hand, offers far superior trading tools through its Active Trader Pro platform including advanced charts, 澳洲幸运5官方开奖结果体彩网:technical indicators, screeners and more. Additionally, Fidelity offers robust rebalancing features that make it a strong choice for sophisticated investors and traders ali🌳ke.
Desktop Trade Experience Verdict: Fidelity
The trading experience on the Fidelity platform is clearly superior to the Vanguard platform.
Mobile Experience
Vanguard's mobile app feels outdated with limited features, no charting, and delayed quotes unless an order ticket is opened. It does allow users to monitor positions, perform portfolio analysis, read the news, and place basic orders. Fidelity's app is easier to navigate and more robust when managing orders, checking transactions, and placing trades, though its research and charting tools are limited. Fidelity's mobile watchlists are synchronised with desktop and web applications. Both apps are well-rated on App Store, with Vanguard at 4.7 stars based on nearly 175,000 reviews and Fidelity at 4.8 stars from 2.66 million reviews.
Mobile Trade Experience Verdict: Fidelity
Fidelity’s mobile functionality far outperforms Vanguard’s outdated app.
Vanguard vs. Fidelity: Range of Offerings
Offerings of both brokers are tailored to fit the average investor. Users can trade stocks, bonds, options, ETFs, as well as thousands of mutual funds–both passive index and actively managed ones. Neither platform supports futures trading. Fidelity also offers Forex, precious metals, cryptocurrency and OTC trading, and even allows 澳洲幸运5官方开奖结果体彩网:fractional share trading in 7,0💟00 U.S. stocks and ETFs. While Vanguard also allows fractional share trading, it is only available for Vanguard’💎s own ETFs.
Compare Range of Offerings
| Criteria | Fidelity | Vanguard |
|---|---|---|
| Short Sales | Yes | Yes |
| Number of No-Load Mutual Funds | 3,396 | 191 Vanguard funds, 9,951+ third party |
| Assets Available to Trade on Website | Stocks, Mutual Funds, ETFs, Bonds, CD's, Options, OTC | Stocks, Mutual Funds, ETFs, Bonds, CDs, Options. OTC trading is generally restricted (except for sales of existing positions and a small number of global ADRs) |
| Assets Available to Trade on Desktop Software | Stocks, Mutual Funds, ETFs, Bonds, CD's, Options with limits, OTC stocks | Stocks, Mutual Funds, ETFs, Bonds, and CD's, Options with limits. OTC trading is generally restricted (except for sales of existing positions and a small number of global ADRs) |
| Max Number of Options Legs | 4 | 1 |
| Robo Advisory | Yes | Yes |
| Number of International Exchanges | 75 | None |
| Fractional Share Trading | Yes | Yes |
| Fractional Dividend Reinvestments | Yes | Yes |
Range of Offerings Verdict: Fidelity
Fidelity has a wider🐠 range of asset types to meet the needs of both investors and traders.
Vanguard vs. Fidelity: Order Types
Fidelity’s Active Trader Pro platform offers both standard (market, limit, and stop) and advanced order types, including bracket and 澳洲幸运5官方开奖结果体彩网:conditional orders. Vanguard supports standard order types only.
Order Types Verdict: Fidelity
While both brokers offer standard order types, through the Active Trader Pro pl🦩atform Fidelity offers a🐠dditional choices that active traders will likely appreciate.
Vanguard vs. Fidelity: Trading Technology
Vanguard’s order routing technology generates an average net 澳洲幸运5官方开奖结果体彩网:price improvement of $17.04 per 1000 shares. While it’s a solid showing, Fidelity’s smart order routing does even better with a net price improvement of $20.86 per 1000 shares. Neither Vanguard, nor Fidelity accept 澳洲幸运5官方开奖结果体彩网:payment for order flow for stocks or ETFs, yet bot𒉰h manage to maintain subsecond average execution times when filling orders.
Trading Technology Verdict: Fidelity
While both brokers offer excel🗹lent trading technology, Fidelity edges out Vanguard.
Vanguard vs. Fidelity: Costs
Like most online brokers nowadays, Vanguard and Fidelity both charge no commissions for online stock and ETF trades for U.S. customers. Both brokers have fees for options: Fidelity charges $0.65 per contract while Vanguard charges $1 per contract for clients with less than $1 million. Broker-assisted trades at Fidelity run $32.95, compared to Vanguard's lower $25 fee. Fidelity’s mutual fund trades are $49.95 on funds not designated as no-fee. Vanguard's fees range from $0 to $20, depending on account balance. Margin rates are fairly similar, with Vanguard’s highest tier at 12.75% and Fidelity’s at 12.575%.
Compare Costs
| Fidelity | Vanguard | |
|---|---|---|
| Number of No-Load Mutual Funds Without Transaction Fees | 3,396 | 160 Vanguard funds, 3,000 third party no-load mutual funds |
| Recurring Investment Fees | No | Yes |
| Cost Per Stock Trade | $0.00 | $0.00 |
| Cost Per Options Contract | $0.65 | $1.00 |
| Cost Per Futures Contract | NA | N/A |
| Broker-Assisted Trade Fee | $32.95 | $25.00 |
| Volume-Based Options Discounts (Upon Meeting a Threshold) | Negotiable | No |
| Options Price Cap (Upon Meeting a Threshold) | Yes | Yes |
| Inactivity Fees | No | No |
| Account Closure Fees | No | Yes ($100 fee for account closure & transfer) |
Costs Verdict: Fidelity
Overall, the two brokers have similar cost levels, though th💃e fee structures differ. A trader actively buying and selling options will be better off with Fidelity, while an investor spreading their money across a variety of funds will likely find Vanguard more appealing. Ultimately, Fidelity’s fee structuꦉre does allow customers to save in a greater number of areas.
Vanguard vs. 🐠Fidelity: Account and Research Amenities
While Vanguard does offer stock screeners, newsfeeds and several useful tools for retirement planning, its overall toolkit pales in comparison with the flexible and robust resources Fidelity has for research, screening, charting, and news.
Compare Account and Research Amenities
| Fidelity | Vanguard | |
|---|---|---|
| Portfolio Margin Available | Yes | No |
| Ability to Choose and Offer Shares Held Long to a Loan Program | Yes | No |
| Uninvested Cash Automatically Swept into a Money Market Fund | Yes | Yes |
| Screeners Offered | Stocks, ETF's, Mutual Funds, Fixed Income, ESG/SRI | Stocks, Preferred stocks, ETFs, Mutual Funds, Fixed Income (ETF and mutual fund screeners contain filters for ESG strategies) |
| Ability to Build Custom Screen | Yes | Yes |
| Ability to Screen Based on Technical Indicators | Yes | No |
| Ability to Save Custom Screens | Yes | Yes |
| Access to Proprietary Research | Yes - (limited to Fidelity “thought leadership” and sector analysis) | Yes - with no additional cost |
| Access to Third Party Research | Yes - with no additional cost | Yes - with no additional cost |
| Ability to Turn Screen Results into a Watchlist | Yes | Yes |
| Trading Idea Generator Offered | Yes | N/A |
| Daily Market Research Reports Offered | Yes | Yes |
Account and Research Amenities Verdict: Fi👍delity
The trading platform from Fidelity is demonstrably more robust and flexible than what Vanguard has to offer, and provides far superior tools for re💞search and analysis.
Vanguard vs. Fidelity: Portfolio Analysis
Vanguard and Fidelity allow to monitor real-time buying power, margin statistics, internal rate of return, and unrealized/realized gains. Both provide tax reports and allow adding external holdings for a financial overview. One tool both platforms are missing is tax impact calculation for future trades. Vanguard offers stronger portfolio rebalancing tools, but Fidelity's Full View allows linking external accounts for additional financial insights.
Portfolio Analysis Verdict: Tie
T༒here are differences between the two, but portfolio analysis tools at each broker deliver comparable qꦆuality insights to customers.
Vanguard vs. Fidelity: Education
Vanguard's educational content consists of market commentary, research papers, and a variety of video recordings. Fidelity's online Learning Center also has articles and videos, but additionally features webinars, infographics and online coaching sessions on more advanced topics.
Education Verdict: Fidelity
Fidelity’s content, organization and approach stands out as the stronger of the two.
Vanguard vs. Fidelity: Customer Service
Fidelity offers 24/7 phone support, online chat and secure email. Vanguard offers phone servi🔴ce and secure email, but limits its hours of operation to a 12-hour window on weekdays ܫonly.
Customer Service Verdict: Fidelity
The all-day everyday access to help easily puts Fidelity on top.
Vanguard vs. Fidelity: Security
Both brokers are highly security-conscious and strive to protect against fraud or any resulting losses. Both carry 澳洲幸运5官方开奖结果体彩网:Securities Inves𝓀tor Protection Corporation (SIPC)𝓰 insurance p𒉰roviding up to $500,000 coverage for securities.
Security Verdict: Tie
Both Fidelity and Vanguard offer solid security and provide insurance against losses from fraud.
Vanguard vs. Fidelity: Account Types
Customers of both com♋panies can open any of the♔ following account types:
- Taxable brokerage accounts
- Individual retirement accounts (both traditional and ROTH IRAs)
- Inherited
- SIMPLE
- Simplified employee pension (SEP)
- Corporate accounts
- Custodial accounts
- 529 college savings accounts
- Trusts
Account Types Verdict: Fidelity
Fidelity offers two account types unavailable to Vanguard customers: health savings accounts (HSA) and teen-owned accounts (called Fidelity Youth Accounts) for investors aged 13-17. Therefore, it wins this category.
The Bottom Line
Fidelity earned higher scores than Vanguard in almost every category we ranked in the 2025 Best Online Brokers reviews. Admittedly this is heavily influenced by the varying approaches of the two brokers, since Vanguard caters almost exclusively to longer-term, oftentimes passive investors over active traders. Vanguard’s has many strengths, but Fidelity is still virtually impossible t🍰o beat as it does most things just as well and, in many cases, even better.
How We Picked the Best Online Br🐓okers and Trading Platforms
Providing readers with unbiased, comprehensive reviews of online brokers and trading platforms is a top priority for Inv𓄧estopedia. We combined our industry research, subject matter expertise, and investor survey data to guide the research and weightings for our 2024 online broker awards. To collect the data, we sent a digital survey with 110 questions to each of the 26 companies we included in our rubric. Additionally, our team of researchers verified the survey responses and collected any missing data points through online research and conversations with each company directly. The data collection process spanned from Feb. 19 to March 19, 2024.
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Additionally, during our 2024 research, many of the companies we reviewed gave us live demonstrations of their platforms and services via video conferencing methods and also granted our team of expert𝔍 writers and editors access to live accounts so they could perform hands-on testing.
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