When you are just beginning to be an investor, it is very important to choose the right brokerage account that is much more than just a trading platform for placing trades. A good trading platform can help the user build a strong investing organization, which inherently works as a teacher, advisor, and professional analyst for an investment.
Here we are talking about two very well-known trading and investment platforms, Fidelity and tastyworks. Here’s a brief differentiation between both these trading and investment platforms.
Fidelity is a trading platform that provides financial services and planning that a lot of us are looking for. Fidelity provides these services over the phone and online through its wide network of investors. Fidelity has around 13 million account holders presently who are relying on their platform for seeking advice for retirement planning, financial management, brokerage services, etc.
How is tastyworks Different From Fidelity
Both tastyworks and Fidelity have similar pricing scheduled for their stocks and ETF’s, but apart from that, there are various factors that make both these platforms differ from each other. Let’s have a look:
Trading of Assets
The users who invest in Fidelity have a huge range of security and other factors of investment from which they can make a choice from. At Fidelity, the broker-dealers offer mutual funds, investments with fixed-income, ETFs, stocks, close-ended funds, and precious metals. The stock category at Fidelity comprises of penny stocks, over-the-counter stocks, and foreign stocks.
Whereas tastyworks is not offering OTC or any kind of foreign stocks, it also doesn’t provide access to the major stock exchanges in U.S. tastyworks states that they don’t offer penny stocks, but it was recorded that they traded equity for less than $1. Along with stocks, tastyworks also offers options on future, ETFs, and closed-end funds as per the Charles Schwab vs Tastyworks.
The Fidelity platform website provides visitors with a lot of educational material. On visiting the website, one can find infographics, writeups, informative articles, self-guidance courses, and many other financial guidance videos. The stock profiles on the Fidelity platform has a lot of amount of data on it. For instance, it has SEC filings, reports on equity in the form of PDF, information about the earnings, comparative analysis about the rivals of the industry.
The tastyworks website does not have any excessive data available on its website. There is a bit of information regarding the equity profiles. Apart from that, there is Trade data available on the website, but there is no detailed description of the stock reports. tastyworks provides free access to tastytrades, which is an educational video service platform.
tastyworks works best for investors who are just learning how the investment market works. Along with this, it is best for those who take part in trading actively, works in Stocks trading, trading for options, futures trading. If the user is looking for a trading platform at a minimal fee, then tastyworks is the platform for them. On the contrary, apart from working for beginners and active traders, Fidelity works for passive traders. It also involves premium research at a low fee. It provides Commission-free ETFs and assists users in retirement investing. Also, you get referral rewards by referring your friends, family members on this broker, find more details about the referral program on our blogs.
Pros and Cons
Both the platform hold their own set of advantages and disadvantages. tastyworks excels in providing customers with low-cost services, with a modern trading platform, quantitative research. Along with it, tastyworks also provides Advance Order Capabilities and best in class customer support whereas Fidelity provides multiple trading platforms, with a wide range of security trading services. At Fidelity, the ETFs are commission-free. And Fidelity offers its users with local office support. Both, tastyworks and Fidelity, lack technical indicators, and active trader pro platform, respectively.
Trading Service and Mobile App
Fidelity provides an online trading platform with an Active Trader Pro that works for desktop and browser. This service by Fidelity is available for customers who trade for approximately 36 times in a span of 12 months. Both platforms have designed native apps for both iOS and Android.
According to the difference between Ally Invest & Tastyworks, Tastyworks provides its customers with the best customer support services and makes sure they reply to customer emails in a few minutes. tastyworks doesn’t have any local branches. Fidelity provides its customers with complete 24/7 live chat support along with quick email replies. Fidelity has more than 150 local branches.
The bottom line is that tastyworks is one of the best brokerage platforms with a team that aims to use quantitative analysis with implied volatility strategies. tastyworks is a user-friendly platform and provides the user with knowledge about trading. On the contrary, Fidelity offers widespread services with extraordinary analyst research. Along with this, Fidelity also offers security and commission-free ETFs with Mutual Funds/Bonds.