Fidelity vs Interactive Brokers

What each platform is

Fidelity is a full-service U.S. brokerage. Its canonical record describes $0 online U.S. stock and ETF commissions, a $0.65 options contract fee, Fidelity and zero-expense-ratio mutual funds, a broad fixed income inventory, direct crypto through Fidelity Digital Assets, the Fidelity Go robo-advisory program, a retail HSA and a wide retirement, education, custodial and estate account range.

Interactive Brokers is a global multi-asset brokerage. Its canonical record describes IBKR Lite and IBKR Pro pricing, tiered per-share commissions, futures and futures options, spot forex, spot metals, 170 markets across 40 countries in 29 currencies, structured products, warrants, prediction and event contracts, and a full API suite.

Cost structure

Both records show a $0 headline for U.S. stocks and ETFs, but only on one side of IBKR pricing. Fidelity is $0 for eligible online U.S. stocks and ETFs, including fractional orders, with a $0.001 per share schedule reserved for accounts designated Professional Equity Trader. IBKR Lite is $0 for qualifying U.S. exchange-listed stocks and ETFs and uses payment for order flow; IBKR Pro is priced, either tiered from $0.0035 per share down to $0.0005 per share at the highest published volume tier, or fixed at $0.005 per share with a $1.00 minimum and a 1% of trade value cap. The IBKR record is explicit that Lite and Pro differ in order-routing economics, not only in commission schedule.

Options land at the same headline: $0.65 per contract at both, with Fidelity waiving the contract fee on qualifying online buy-to-close orders priced at $0.65 or less, and IBKR Pro able to fall to $0.15 per contract on tiered pricing depending on premium, volume and routing, subject to a $1.00 minimum order and a $0.025 per contract OCC clearing fee.

Margin is where the records diverge in disclosure rather than in structure. Fidelity states that margin rates are variable and tiered by debit balance and directs readers to verify current rates against the fact-check date. IBKR publishes 6.13% on Lite and 5.13% on the first $100,000 of a Pro balance, fact-checked 2026-09-02, with the caveat that blended tier pricing means the lowest advertised rate does not apply to an ordinary retail debit balance.

Product scope

Fidelity supports stocks, ETFs, options, index options, mutual funds, bonds, brokered CDs, Treasuries, municipal, corporate and agency bonds, REITs, IPOs, managed portfolios, crypto ETPs and direct crypto. It does not offer futures, futures options or retail forex.

Interactive Brokers adds the products Fidelity omits: futures, micro futures, futures options, spot forex through 17 liquidity providers, spot metals, structured products, warrants, international bonds, options and futures, and prediction or forecast contracts through ForecastEx, Kalshi and CME Group.

Crypto

Both offer direct spot crypto, but through different structures. Fidelity Crypto is provided by Fidelity Digital Assets, National Association, a national trust bank, covering five assets at a 1% trading fee with $0 custody, external transfers in and out, and support inside Traditional, Roth and rollover IRAs. Interactive Brokers routes execution and custody to Paxos Trust Company or Zero Hash, with fees of 0.18%, 0.15% and 0.12% by volume tier, a $1.75 minimum and a 1% cap, and the record states plainly that Interactive Brokers LLC is not the counterparty and does not custody the digital assets. Neither offering is FDIC insured or SIPC protected. IBKR asset availability varies by residence, account and provider, so a single asset count is not accurate.

Global reach and fractional investing

Fidelity supports international stock trading across 25 markets and 16 currencies with local-currency or USD settlement. IBKR reaches 170 markets across 40 countries in 29 currencies with a multi-currency account. Fractional investing is available on both: Fidelity from $1 with 0.001 share precision on eligible U.S. stocks and ETFs, IBKR from $1 on eligible U.S., Canadian and European shares with daily, weekly or monthly recurring orders.

Platforms, research and APIs

Fidelity supplies Trader+ Desktop, Web and Mobile, Active Trader Pro and the classic mobile app, with Level II quotes, streaming data, screeners, options analysis and independent research providers. Interactive Brokers supplies Trader Workstation, IBKR Desktop, Client Portal, IBKR Mobile, GlobalTrader, IMPACT and ForecastTrader, with SmartRouting, direct routing, algorithmic orders, Risk Navigator, PortfolioAnalyst, market scanners and paper trading, plus overnight U.S. equity trading from 8:00 p.m. to 3:50 a.m. ET on 10,000 or more stocks and ETFs, where the record warns that overnight liquidity can be thinner and spreads wider.

The clearest tooling gap is programmatic access. IBKR documents TWS, Web, Client Portal, FIX and Excel APIs across order entry, account data, market data, historical data and every major product line. No public trading API is established in the current Fidelity record.

Accounts and advice

Fidelity covers Traditional, Roth, rollover, inherited, SEP and SIMPLE IRAs, solo 401(k), small-business retirement, 529, custodial UGMA/UTMA, youth, trust, estate, managed and cash management accounts, plus a retail HSA at $0 minimum and $0 individual account fee. Fidelity Go charges $0 below $25,000 and 0.35% at $25,000 and above, beginning at $10 invested.

Interactive Brokers covers Traditional, Roth, rollover, inherited, SEP and SIMPLE IRAs, UGMA/UTMA, trust, organization, institutional, hedge fund, family office and proprietary trading group accounts, with portfolio margin. A 529, an HSA and a conventional consumer robo-advisor are not established in the current canonical review.

Which fits which reader

The Fidelity record fits a reader consolidating a household balance sheet in one place: mutual funds, conventional fixed income, education and health savings accounts, custodial or youth accounts, crypto held inside a retirement account, and automated management that costs nothing below $25,000.

The Interactive Brokers record fits a reader whose requirements sit outside a U.S.-only equity and fund account: futures, spot forex, multi-currency global markets, published margin rates, per-share pricing at volume, event contracts, or an API-driven workflow.

Because IBKR margin rates are benchmark-linked and fact-checked to a specific date, Fidelity margin rates are variable and tiered, and crypto provider terms can change on both sides, verify current published schedules before funding either account.