Fidelity Investments vs TD Ameritrade (2026) — Which Is Better?
Compare Fidelity Investments and TD Ameritrade — features, pricing, pros and cons.
Quick Verdict
Higher Rated
Fidelity Investments (4.7)
More Affordable
Fidelity Investments (Free)
Fidelity Investments
Top-rated full-service brokerage with zero-commission trading, Active Trader Pro, and industry-leading research and retirement tools.
TD Ameritrade
Legacy full-service brokerage now merged with Charles Schwab, offering commission-free trading, powerful tools, and extensive research.
Our Analysis
Fidelity (4.7/5) and TD Ameritrade (4.4/5, now merged into Schwab) are both top-tier US brokers, though TD Ameritrade no longer accepts new accounts. Fidelity leads in research, customer service, and zero-fee index funds. TD Ameritrade's legacy is ThinkorSwim — the most powerful free trading platform in the industry — which now lives under Schwab.
Fidelity's differentiator remains its research quality and zero-expense-ratio funds like FZROX and FZILX that no other broker matches. TD Ameritrade's ThinkorSwim, with custom scripting, advanced options analysis, and extensive paper trading, remains accessible through Charles Schwab.
If you're choosing a new broker today, the comparison is effectively Fidelity vs Schwab (which now owns ThinkorSwim). Choose Fidelity for research, customer service, and low-cost investing. Go to Schwab for ThinkorSwim's advanced trading tools and banking integration. Existing TD Ameritrade users are being migrated to Schwab automatically.
Feature Comparison
| Feature | Fidelity Investments | TD Ameritrade |
|---|---|---|
| Rating | ★ 4.7 | ★ 4.4 |
| Starting Price | Free | Free |
| Free Tier | Yes | Yes |
| Markets | stocks, options, futures | stocks, options, futures, forex, crypto |
| AI Analysis | ✗ | ✗ |
| Backtesting | ✗ | ✓ |
| Paper Trading | ✗ | ✓ |
| Price Alerts | ✓ | ✓ |
| Mobile App | ✓ | ✓ |
| API Access | ✗ | ✓ |
| Social Features | ✗ | ✗ |
| Broker Integration | ✓ | ✓ |
| Custom Indicators | ✓ | ✓ |
| Automated Trading | ✗ | ✗ |
| Trade Journaling | ✗ | ✗ |
| Performance Analytics | ✓ | ✓ |
| Risk Management | ✓ | ✓ |
| News Feed | ✓ | ✓ |
| Education Content | ✓ | ✓ |
Fidelity Investments: Pros & Cons
Pros
- + Best-in-class research and analysis tools
- + Zero-fee index funds with no expense ratio
- + Excellent customer service consistently rated #1
- + Comprehensive retirement and financial planning
Cons
- - Active Trader Pro not as powerful as ThinkorSwim
- - No cryptocurrency trading
- - Futures trading options are limited
- - International market access is limited
TD Ameritrade: Pros & Cons
Pros
- + Commission-free stock and ETF trades
- + thinkorswim platform is industry-leading
- + Extensive research and educational content
- + Strong options trading capabilities
Cons
- - Now merged into Schwab — no new TD Ameritrade accounts
- - Options contracts still cost $0.65 each
- - Transition period caused some account disruptions