Alpaca vs Fidelity Comparison: Fees, Features, and More (2026)

Alpaca and Fidelity are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: Alpaca vs Fidelity (2026)
Feature Alpaca Fidelity
Website https://alpaca.markets/ https://www.fidelity.com/
Broker Type API-first self-clearing broker-dealer (Trading API for retail/algo; web dashboard available) Full-service
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 commission (retail US stocks/ETFs); plus SEC/FINRA/CAT fees. Elite Smart Router: $0.0005–$0.004/share $0 online US stocks/ETFs
Fractional Shares? Yes (from $1 notional; 2,000+ US equities) Yes (7,000+ US stocks/ETFs, $1 min)
Percent Allocations? Yes, via API Yes (Fidelity Basket Portfolios)
Crypto Trading? Yes (most US states via API/dashboard; 24/7) Yes, via Fidelity Crypto® (BTC, ETH, SOL, LTC, FIDD) for US retail; also crypto ETPs in brokerage.
Crypto Fees Maker/taker 0.15%/0.25% (under $100k 30d vol) to 0%/0.10% ($100M+); on received asset 1% of executed market value on buys/sells (Fidelity Crypto®/IRAs); none on FIDD vs USD.
Options Trading? Yes (Levels 1-3 equity/ETF; index options live) Yes
Options Fee $0 commission retail equity/ETF options; index $0.50/contract + ORF/OCC/exchange pass-throughs $0 commission + $0.65/contract online; $0 for buy-to-close ≤$0.65. Extra fees for some indexes/pros.
Bond Trading Available? No (Broker API partners only; not Trading API/dashboard retail) Yes; $0 online for new issues/US Treasuries; $1 per bond secondary (caps apply).
Receives payment for order flow (PFOF)? Yes (receives PFOF rebates) Yes (receives PFOF on equities from wholesalers and on options).
Interface: Web trading? Yes web dashboard; no official mobile app (third-party/TradingView yes) Yes (Fidelity.com web; Fidelity Investments iOS/Android app; Fidelity Trader+).
Desktop trading? No Yes (Fidelity Trader+ Desktop, PC/Mac; Active Trader Pro Classic also available)
API Trading? Yes (Alpaca Trading API) No (no official public retail trading API)
Mutual Funds: Offered? No Yes
Total Mutual Funds None Over 10,000
NTF Mutual Funds None Thousands (all Fidelity funds plus many NTF third-party)
Non-NTF Fund Fee N/A $49.95 per purchase (some up to $100); $0 redemption
Early Redemption Fee? N/A No ($49.95 Fidelity short-term fee on most NTF funds held <60 days)
Redemption Hold (Days) N/A 60 days (NTF FundsNetwork non-Fidelity funds)
Early Redemption Fee N/A $49.95 online (NTF funds held <60 days)
Accounts: Margin Accounts? Yes; all accounts opened as margin (limited margin if equity under $2,000). Yes
IRAs Offered? Yes; Traditional and Roth IRAs for US tax residents (Trading API). SEP-IRA in agreements. Yes (traditional, Roth, SEP)
HSAs Offered? No Yes
Money Market Sweep? Yes; opt-in FDIC Bank Sweep/High-Yield Cash for uninvested cash (variable APY, up to $1M FDIC). Yes
CDs Offered? No Yes (brokered CDs)
Robo-Advisor: Offered No Yes
Robo-Advisor Service N/A Fidelity Go
Robo-Advisor Fees N/A $0 under $25,000; 0.35%/yr for $25,000+
Basics: Headquarters San Mateo, CA Boston, MA
Year Founded 2015 1946
Clearing Firm Self-clearing (Alpaca Clearing) National Financial Services LLC
Local Branches? No Yes, ~215 U.S. Investor Centers
New Account Minimum $0 $0

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