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Fidelity vs. MT4 – A Detailed Comparison

Discover our detailed comparison of Fidelity and MT4 to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience. 

To make your research easier, we manually found key data for Fidelity and MT4 across the internet and compiled it all in this article. 

Overview of Fidelity

Fidelity is a well-established brokerage firm known for its comprehensive range of financial services. It is one of the only institutions that offers zero-cost mutual funds, at the expense of less frequent dividend payments. While they don’t offer leverage products like futures, they allow you to invest in crypto, and they are one of the only brokerages that provides custody of the fund’s Bitcoin.

Overview of MT4

Meta Trader 4 (MT4) is a charting platform that is mostly used by Forex traders. You can also chart stocks and other assets depending on which broker you connect.

Key Characteristics of Fidelity and MT4

FeatureFidelityMT4
Platform TypeBrokerage PlatformCharting and Trading Software
Tradeable AssetsStocks, ETFs, Mutual Funds, Options, Index Options, BondsNot a broker
Charting FeaturesActive Trader Pro PlatformFree charting platform
DataReal-time data with funded accountDepends on broker
Premium PricingNo premium featuresFree, just connect a broker

Who is Fidelity Best For?

Fidelity is best for long-term investors, but not as much for active traders seeking leveraged products like futures contracts. However, the options trading fees are competitive, they provide many low-cost investment funds, and they allow you to invest in cryptocurrency, making it a great all-around brokerage.

Who is MT4 Best For?

MT4 is best for those who already have a broker tha is compatible with it. Otherwise, there are much better charting platforms like TradingView or TrendSpider.

Trading Features and Tools

FeatureFidelityMT4
DRIPYes, no feesNot a broker
Margin TradingYesNot a broker
InsuranceSIPC InsuredNot a broker
Mobile AppYesYes

Trading Costs and Commissions Compared

Fee TypeFidelityMT4
Equity CommissionFreeNot a broker
Option Commission$0.65 per contractNot a broker
Futures CommissionNo futuresNot a broker
Futures Options CommissionNo futures optionsNot a broker
Option Exercise FeeNoneNot a broker

Fidelity vs MT4 – Bottom Line

Choosing between Fidelity and MT4 depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in. 

Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.

For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.

What is the Overall Best Charting Software?

I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:

  • All of TradingView’s key features are free to use
  • TradingView provides real-time data for free whenever possible
  • You are not tied to a single broker and can use whichever you want while charting on TradingView
  • You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
  • TradingView has an excellent economic calendar and various screeners

If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more. 

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