You shouldn’t start online trading with the company that doesn’t have a well-established reputation in 2022. Your choice must be well-thought-out. If you don’t know how to start your searches, we may help you by introducing this comparison of two legit companies – DotBig vs Fidelity. Explore more about their trading conditions, accessible markets, tradable assets, platforms, advantages and disadvantages.
|Bonus||10% welcome bonus||a $100 offer for new users who fund at least $50 and enter the FIDELITY100 code|
|Year of foundation||2003||1930|
|Platforms||MT5, DotBig Web, Mobile||Fidelity.com, Active Trader Pro|
Comparison of Brokers’ Commissions
We will start our comparison of online brokers with comparing the expenditures their clients pay for the possibility to use the services of these online trading platforms. Traders and investors might be required to pay for access to markets, tools, and platforms, for account services and operations.
Fidelity doesn’t charge fees for the possibility to access the platforms. Any registered user can use the represented platforms the way he or she finds necessary. Like many other brokers, Fidelity Investments charges $0.65 per contract for options trades. Stock trading is completely free. However, this works only for online trading – a live broker charges a $32.95 commission per trade.
Fidelity is one of the best platforms for low-cost trading. Its account minimum is $0, and it doesn’t impose any additional commissions for funding, withdrawing, transferring, opening, closing, etc. Inactivity fees are excluded as well.
DotBig LTD requires a minimum deposit of $250 for the Standard account activation. Funding isn’t commissioned, but fees must be paid for withdrawals. The amount depends on the method applied – a standard commission is 3.5% and the bank transfer commission is €35. This works not for all account types, but in order to pay fewer commissions for withdrawing, clients are required to deposit more. Inactivity fees are charged as well.
Broker Comparison: Trading Conditions
Any comparison of forex brokers can’t be complete without comparing trading products.
|Forex||Traders access 72 currency pairs with an average spread varying between 1-2 pips||16 currency pairs are listed and might be traded without additional commissions|
|Stocks||Clients benefit from investing in 244 stocks with the floating spread starting from 0.67 pips||Clients trade both traditional (long/short) and penny stocks. Fractional and preferred shares are also available. Around 2,800 assets are on the easy-to-borrow list|
|Bonds||–||Available corporate, municipal, treasury bonds and CDs|
|Cryptocurrencies||650 crypto assets are listed||–|
|Commodities||6 commodities with the 1:100 leverage||The broker list precious metals|
|ETFs||Free ETF trades with 20 assets listed||Free ETF trades|
|CFDs||The possibility to invest in CFD assets||–|
|Mutual Funds||–||More than 3,500 no-load, no-transaction-fee mutual funds|
|Options||–||Both single and multi-leg options are available|
Except for the products listed in the table, Fidelity offers many other financial instruments such as warrants, rights, TIPS, ETPs, and others. Plus, it offers an extensive number of order types, with which it’s easier to close deals. That’s why somebody may consider it’s better in terms of conditions, but DotBig clients may easily dispute this.
Foremost, DotBig, offering 72 currency pairs, provides a better choice for traditional forex trading. Then, it allows crypto trading, which is impossible on Fidelity.com. Despite the high volatility of the crypto market, many traders want to gain this experience.
Broker Comparison: Platforms and Tools
Platforms of Fidelity Investments, both mobile and desktop ones, are very usable. Experienced traders suggest using Active Trader Pro rather than the web platform because this is a more advanced development, which allows traders to regulate more features. It’s a very customizable platform. When trading on Fidelity platforms, clients may apply such tools as:
- updated quotes;
- personalized layouts;
- basket services (allow you to manage 50 stocks as a single unit).
Platforms on DotBig LTD aren’t as robust, but users may benefit from using social trading services and trading signals, which are accurate in 90% of cases.
Which Broker is Better Overall?
To sum it up, Fidelity is better in a number of aspects. But if you are a complete beginner, you should consider trading on DotBig. For beginners, it offers many free training programs and beneficial conditions on social trading, which allows beginners to make the trading process almost 100% automated.