Fidelity vs Robinhood (2026)
Fidelity and Robinhood both charge $0 for online stock and ETF trades, but Robinhood charges $0 per contract on stock and ETF options and starts margin at 5.25%, against Fidelity's $0.65 a contract and 12.075%. Fidelity charges $0 to transfer out, sells mutual funds and bonds and holds cash in a money market core position; Robinhood charges $100 to leave and pays interest on cash only with Gold.
By Wealthy Pot Editorial · Facts checked October 19, 2026
| Feature | Fidelity | Robinhood |
|---|---|---|
| Type | Full-service | App-first |
| Stock/ETF commission | $0 | $0 |
| Options per contract | $0.65/contract | $0 stock/ETF options; index options $0.50 ($0.35 with Gold) |
| 10-contract options trade, open + close | $13 ($312 a year at 2 a month) | $0 ($0 a year at 2 a month) |
| Rate on uninvested cash | 3.48% 7-day yield if you pick SPAXX (no default named) | 0% APY (Uninvested cash without Robinhood Gold) |
| Margin rate on $10,000 | 12.075% | 5.25% |
| Transfer out (full account) | $0 | $100 |
| Paid tier | None | Robinhood Gold: $5/mo |
| Account minimum | $0 | $0 |
| Fractional shares | Yes | Yes |
| Account types | IRA, Roth, SEP, SIMPLE, solo 401(k), HSA, 529, youth | Taxable, joint, IRA, Roth, custodial, trust |
| Platforms | Web, iOS, Android, Desktop | Web, iOS, Android |
Options, cash and margin rows are our arithmetic from each broker's published commissions, default cash rate and margin rates (commissions only, before small regulatory and exchange fees). Rates change with the Federal Reserve's rate.
Key differences
For an options trader or a margin borrower, Robinhood's published numbers are lower. Robinhood charges $0 commission and $0 per contract on stock and ETF options, while Fidelity charges $0.65 a contract. Hypothetically, 10 contracts opened and closed cost 20 x $0.65 = $13 at Fidelity and $0 at Robinhood, before regulatory fees. Robinhood's margin starts at 5.25% up to $50,000 for every customer; Fidelity's starts at 12.075% under $25,000. Both take payment for order flow on options: in Q2 2026, $0.30 to $1.20 per contract on single-leg orders at Robinhood and $0.30 to $0.40 a contract on marketable single-leg orders at Fidelity.
A long-term or retirement investor faces a different list. Robinhood sells no mutual funds or individual bonds, and offers Traditional and Roth IRAs but no SEP or SIMPLE IRA, solo 401(k), HSA or 529; Fidelity offers all of those, plus over 10,000 funds through FundsNetwork. Robinhood pays an IRA match of 1% on contributions, or 3% with Gold ($50 a year). Matched assets must stay 5 years or an early removal fee claws the match back, and moving the IRA costs $100. Fidelity charges $0 to transfer out or close an IRA, a point to weigh for a 401(k) rollover.
Idle cash is handled differently. Fidelity lets taxable accounts pick a money market core position, such as SPAXX at a 3.48% 7-day yield on September 30, 2026. At Robinhood, cash earns nothing without Gold; with Gold ($5 a month or $50 a year), eligible cash in a taxable account earns 3.6% APY, and IRA cash earns nothing. Robinhood offers overnight trading from 8 PM to 7 AM ET in select stocks and ETFs, and futures through an affiliate that SIPC does not cover. Fidelity offers trading in 25 countries and says it has 215 Investor Centers; Robinhood's phone support is a callback.
Where Fidelity wins
- $0 to transfer out, close an IRA or send a domestic wire
- Money market core positions in taxable accounts, with SPAXX at 3.48% (7-day yield, September 30, 2026)
- Fractional shares in NYSE and Nasdaq-listed stocks and ETFs from $1
- Online trading in 25 countries and 16 currencies
- Excess of SIPC coverage with a $1.9 million per-customer cash limit
Where Robinhood wins
- No commission and no per-contract fee on stock and ETF options
- Margin from 5.25%, with the tier rate applied to the whole balance
- Overnight trading in select stocks and ETFs, 24 hours on weekdays
- IRA match of 1%, or 3% with Gold, on contributions
- Excess-SIPC policy up to $50 million per customer
- No account minimum, no maintenance fee and no inactivity fee
Which should you choose?
Pick Fidelity if
- You hold funds or ETFs for the long run and want $0 transfer-out, IRA closing and annual IRA fees.
- You want a money market fund as the core position for idle cash rather than a bank sweep.
- You want branches: Fidelity says it has 215 Investor Centers.
- You buy foreign shares on their home exchange in a taxable account (25 countries).
Pick Robinhood if
- You trade stock or ETF options and want no per-contract fee on them.
- You borrow on margin and want a rate that starts at 5.25% for every customer, with or without Gold.
- You invest from a phone, in small dollar amounts, with fractional shares from $1.
- You will pay $50 a year for Gold and want the 3.6% cash rate and the 3% IRA contribution match that come with it.
Fidelity vs Robinhood: FAQ
Is Robinhood cheaper than Fidelity for options?
For stock and ETF options, yes on the published schedules: Robinhood charges $0 per contract and Fidelity $0.65. Index options differ: Robinhood charges $0.50 per contract ($0.35 with Gold) plus the exchange's index fee, and Fidelity adds an index fee such as $0.50 on SPX on top of its $0.65. Robinhood passes regulatory and clearing fees through. See our options platform guide.
Which pays more on cash, Fidelity or Robinhood?
Without Gold, Fidelity: Robinhood pays no interest on cash in a regular account, while Fidelity's SPAXX core position had a 3.48% 7-day yield on September 30, 2026. With Gold, Robinhood pays 3.6% APY on eligible cash in self-directed taxable accounts, but not in IRAs. Gold costs $5 a month or $50 a year.
Can I move from Robinhood to Fidelity for free?
No. Robinhood charges $100 for each full or partial ACATS transfer, IRAs included. Fractional shares are sold when you transfer out, crypto cannot move by ACATS, and an IRA match on assets that leave within 5 years can be clawed back. Moving from Fidelity to Robinhood costs $0 on Fidelity's side.
Compare these against every option in our online brokers comparison.
We summarize each company's published terms and pricing, not user reviews or our own testing. Facts come from our full reviews of both brokers, each checked against the broker's own fee schedule, rate and disclosure pages on October 19, 2026 with every source listed. Some outbound links may be affiliate links. That never affects our comparisons. Nothing here is investment advice.