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Compare Online Brokers

With some of the lowest costs in the industry, trading online with Fidelity means you keep more of your money working for you.

How the others stack up

Price

  The Fidelity Account® Schwab E*Trade TD Ameritrade
Stocks
Nonproprietary ETFs
(per trade)1, 2
$7.95 $8.95 $9.99 $9.99
Options
(per contract, plus base rate)
$0.75 $0.75 $0.75 $0.75
Margin rate
for $500,000 debit balance3
3.75% 6.75% 4.14% 7.00%

Execution

  The Fidelity Account® Schwab E*Trade TD Ameritrade
Automated trading4 Yes No Yes Yes
International stock trading in 25 markets Yes No No No

Analysis

  The Fidelity Account® Schwab E*Trade TD Ameritrade
In-depth research from 20+ independent providers Yes No No No
Portfolio-level backtesting5 Yes No No No
2-year covered call strategy backtester Yes No No No
International stock research Yes Yes Yes No
1. Commission comparison based on published website commission schedules, as of 10/1/2015, for E*Trade, Schwab, and TD Ameritrade for online U.S. equity trades. For E*Trade: $9.99 per trade for 0 to 149 trades, $7.99 per trade for 150 to 1,499 trades, and $6.99 per trade for 1,500 or more trades per quarter. For Schwab: $8.95 for up to 999,999 shares per trade, though orders of 10,000 or more shares or greater than $500,000 may be eligible for special pricing. For TD Ameritrade: $9.99 per market or limit order trade for an unlimited amount of shares.
2. $7.95 commission applies to online U.S. equity trades for Fidelity Brokerage Services LLC retail clients; other conditions may apply. See the brokerage commission and fee schedule (PDF) for details.
3. Margin trading entails greater risk, including but not limited to risk of loss and incurrence of margin interest debt, and is not suitable for all investors. Margin credit is extended by National Financial Services, Member NYSE/SIPC. Please assess your financial circumstances and risk tolerance prior to trading on margin. Effective since January 12, 2009, Fidelity’s base margin rate is 6.575%.
4. Automated trading poses additional risks that are greater than those associated with manual trading. Use of Fidelity’s Wealth-Lab Pro® automated trading feature is subject to the Wealth-Lab Pro® Automated Trading User Agreement. Additional terms, conditions, and eligibility requirements apply.
5. Wealth-Lab Pro® offers portfolio-level backtesting with margin and money management rules.
*To compare brokers, Barron's composed a score that reflects how much of a broker's flow it sends to the best-performing market makers including Citadel Securities, UBS, Two Sigma Securities, KCG Holdings, Susquehanna International Group and Citigroup's Automated Trading Desk using a volume-weighted mean for market orders of all reported sizes for both S&P 500 and Non-S&P 500 securities. Broker scores are based on the overall execution quality of market makers for Q4 2014 routing of market orders for both NYSE and Nasdaq stocks using the market makers' effective spread to quoted spread (E/Q).

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options, and call 800-544-5115 to be approved for options trading. Supporting documentation for any claims, if applicable, will be furnished upon request.

There is an Options Regulatory Fee (of between $0.04 to $0.06) per contract that applies to both option buy and sell transactions. Fee is subject to change.

System availability and response times may be subject to market conditions.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information.  Read it carefully.
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