[0:00] Hey everybody, I'm Matt, investments
[0:01] editor at Finder. Today we are diving
[0:03] into a head-to-head comparison between
[0:05] two very popular US brokers, Fidelity
[0:09] and Robin Hood. Now, Fidelity has been
[0:11] around since 1946. That's before credit
[0:14] cards, commercial microwaves, and the
[0:17] moon landing, if you believe that sort
[0:19] of thing. It's old, but that's not a bad
[0:22] thing. At 5.9 trillion in assets under
[0:26] management, Fidelity is one of the
[0:27] largest US brokers and it's got lots of
[0:31] investment options, retirement tools,
[0:33] and some of the lowest account fees that
[0:36] you will find among brokers. Robin Hood
[0:39] around since 2013, the same year the
[0:41] first Frozen movie came out. Not that
[0:44] I'm a fan.
[0:46] >> I'm just I just happen to know that. But
[0:49] Robin Hood is one of the fastest growing
[0:51] US brokers. Once catering to beginners,
[0:53] Robin Hood has expanded its trading
[0:55] platform to align with its maturing
[0:56] customer base, offering things like more
[0:58] tradable assets, a dedicated active
[1:00] trader platform, deeper analysis tools,
[1:02] things like that. And it's been racking
[1:04] up new accounts as if it offers free
[1:06] stocks for new customers or something.
[1:08] It does, and we'll put a link in the
[1:10] description so you can get them. Whether
[1:11] you are a beginner or an experienced
[1:13] trader, let's break them down and help
[1:15] you decide which broker is right for
[1:17] you. Fidelity offers a robust,
[1:20] user-friendly trading experience that's
[1:21] well suited for both beginners and
[1:23] active traders. It's got multiple
[1:25] platforms, including Active Trader Pro
[1:27] for desktop, trading dashboard for web,
[1:29] and a pretty solid mobile app. And then
[1:31] there's Robin Hood, which focuses more
[1:33] on simplicity. Its userfriendly,
[1:35] intuitive interface makes trading
[1:37] incredibly accessible, especially for
[1:39] beginners. Its clean design helps you
[1:41] place trades quickly without feeling
[1:44] overwhelmed. Both platforms offer zero
[1:46] commissions on stocks and ETFs, which is
[1:49] great, but there are some differences in
[1:51] other fees. For instance, Robin Hood
[1:53] doesn't charge per contract fees for
[1:55] options, whereas Fidelity charges 65
[1:57] cents per contract. Meanwhile, Robin
[1:59] Hood's highest margin rate is also lower
[2:02] at 5.75 compared to Fidelity's 12.575 at
[2:07] $5 per month or $50 per year if you pay
[2:10] annually. You can also upgrade to Robin
[2:12] Hood Gold, which unlocks the first
[2:13] $1,000 of margin interest free, 4% APY
[2:17] on your cash, Morning Star Research, and
[2:19] more. Fidelity doesn't charge for access
[2:22] to tools or research, and it doesn't
[2:24] charge an outgoing account transfer fee
[2:26] if you want to move your account to a
[2:28] different broker. Its cashewite yield is
[2:30] lower at 2.21% APY, but it doesn't
[2:33] require membership fee for you to get
[2:34] the APY. Now looking at available
[2:36] assets, Fidelity offers a wide range of
[2:39] investment options. Stocks, ETFs, equity
[2:42] options, index options, CDs, bonds,
[2:45] mutual funds, even precious metals, and
[2:47] cryptocurrency. In fact, Fidelity is the
[2:50] only of the three big brokers, the other
[2:52] two being Erade and Charles Schwab that
[2:54] offers access to crypto. You can only
[2:56] buy Bitcoin and Ethereum, but still,
[2:58] it's a start. All this makes it ideal
[3:01] for building a diversified portfolio.
[3:04] Now, Robin Hood has grown well beyond
[3:06] its beginner roots. You can trade stocks
[3:08] and ETFs, equity options, index options,
[3:11] over two dozen cryptocurrencies, plus
[3:14] event contracts, and futures. And with
[3:17] Robin Hood's recent acquisition of
[3:19] global cryptocurrency exchange Bitstamp,
[3:21] we'd see an even expanded offering of
[3:23] cryptocurrencies and even things like
[3:25] cryptostaking, which let you earn
[3:26] rewards on the cryptocurrency that you
[3:28] hold. Robin Hood is a surprisingly
[3:31] versatile trading platform for beginners
[3:33] and active traders who want access to
[3:36] newer asset classes. Fidelity wins on
[3:39] traditional diversification, but Robin
[3:40] Hood's lineup is more competitive than
[3:42] ever, especially if you want crypto and
[3:44] futures exposure. Plus, for crypto
[3:47] traders, you cannot transfer your crypto
[3:49] off of Fidelity, whereas you can with
[3:51] Robin Hood. Fidelity has long been known
[3:54] for its powerful research and trading
[3:56] tools. It offers screeners, advanced
[3:58] charting, thirdparty research from firms
[4:01] like Morning Smart, and Zach, and a
[4:03] dedicated desktop trading platform,
[4:05] Active Trader Pro for advanced traders.
[4:07] Robin Hood 2 offers advanced charting
[4:09] and screeners enhanced further for gold
[4:12] members with Morning Star research and
[4:14] level two market access. But the game
[4:16] changer for Robin Hood is Robin Hood
[4:18] Legend. It's free web-based desktop
[4:21] style trading platform built
[4:22] specifically for active traders with up
[4:24] to eight simultaneous charts, dozens of
[4:27] technical indicators, inch chart
[4:28] trading, and real-time data. Between the
[4:31] two though, Fidelity remains the leader
[4:33] for deep multi-stage research and
[4:35] analysis. But Robin Hood Legend is a
[4:38] huge leap forward for the broker. It
[4:40] offers a desktop style trading
[4:42] experience for active traders at no
[4:43] additional cost. And it's proof that
[4:45] Robin Hood is committed to leveling up
[4:47] for more sophisticated traders. Now,
[4:49] looking at customer support, Fidelity
[4:51] has a long-standing reputation for
[4:53] delivering quality customer service. You
[4:56] can reach Fidelity support by phone chat
[4:58] or even in person at one of his
[5:01] branches. Robin Hood, on the other hand,
[5:03] has got 247 live chat and inapp
[5:06] assistance, but it does not offer
[5:08] in-person support. If you're investing
[5:10] for retirement, Fidelity is a top
[5:11] choice. It offers traditional Roth,
[5:13] rollover, SE IAS, and IAS for kids, plus
[5:17] a full range of retirement planning
[5:19] tools where you can track your finances,
[5:20] so your spending, saving, and retirement
[5:23] goals. Now, Robin Hood only offers
[5:25] traditional Roth and Rollover IAS, but
[5:27] it does pay a match on IRA
[5:29] contributions. With Robin Hood, get a 1%
[5:32] match on your IRA contributions or 3%
[5:35] with gold, which is a pretty valuable
[5:37] perk. in terms of available assets in
[5:39] IRA. In a Robin Hood IRA, you can trade
[5:42] stocks, ETFs, and options. In a Fidelity
[5:45] IRA, you can trade stocks, ETFs, bonds,
[5:48] mutual funds, CDs, and cryptocurrency.
[5:51] If you're looking for help building a
[5:52] portfolio, or you just prefer a
[5:54] hands-off investing experience, robo
[5:56] advisors and financial advisors matter,
[5:58] and both Robin Hood and Fidelity have
[6:01] something to offer. Fidelity provides
[6:03] robo advisory through Fidelity Go with
[6:05] no advisory fee on balances under 25,000
[6:08] and a 0.35% annual fee on balances above
[6:11] that. Once your account reaches 25,000,
[6:13] you're also eligible for unlimited
[6:15] 30inut coaching calls with a human
[6:17] financial adviser. That makes it ideal
[6:19] for investors who want automated
[6:21] investing plus personal support. Now,
[6:23] Robin Hood recently launched Robin Hood
[6:25] Strategies, an actively managed robo
[6:28] advisor that combines ETFs and
[6:30] individual stocks. It comes with a 0.25%
[6:34] annual fee that's capped at $250 a year
[6:37] for gold members. Portfolios start with
[6:39] as little as $50, adjust automatically,
[6:41] and include inapp market insights,
[6:44] future projections, and taxaware
[6:46] investing. But unlike Fidelity, there is
[6:48] no access to human financial advisors.
[6:51] In summary, Fidelity Go gives you robo
[6:53] advice plus access to human coaches.
[6:56] Ideal if you value both automation and
[6:59] personal support. And Robin Hood
[7:00] Strategies brings lowcost active robo
[7:03] management to everyone, not just gold
[7:05] users, but it doesn't include human
[7:07] advice. So great for anybody that wants
[7:09] to keep it digital. So which broker is
[7:11] right for you? If you're after a
[7:13] fullfeatured all-in-one platform for
[7:15] serious long-term investing with
[7:18] professional tools, and access to human
[7:20] advisors, Fidelity is hard to beat. But
[7:23] if you want a sleek, modern experience
[7:26] with active trading features, newer
[7:28] asset classes, broader crypto access,
[7:30] and a surprisingly capable robo advisor,
[7:33] all without the bulk, Robin Hood is a
[7:34] strong lowcost choice. So, what's your
[7:37] pick? Fidelity or Robin Hood? Drop a
[7:40] comment and let me know why. And hey, if
[7:41] this helped you out in any way, please
[7:43] hit that like button, subscribe for more
[7:45] investing content, and check out my
[7:47] other videos on market news, trading
[7:49] tips, and broker comparisons. And as
[7:51] always, if you want some free stocks,
[7:53] links are in the description.