Fidelity offers several options trading platforms to help traders spot opportunities and place trades. Each platform comes with its own set of features and caters to different experience levels, from total beginners to those who really know their stuff.
Features
Fidelity has four main platforms for options trading:
- Trading Dashboard – This is a one-stop command center right on Fidelity.com. No download needed. The dashboard brings together options chains, alerts, streaming data, advanced charting indicators, and an options trade analyzer. You can place conditional orders, set up custom watchlists, and jump between tools. Honestly, it works for just about any skill level, whether you’re new or a little more seasoned.
- Fidelity Mobile® – The mobile app recently got a big upgrade and now lines up with desktop features. It lets you view positions in a simplified way, check detailed quotes, pull up advanced charts, and see full options chains. You can even roll options positions from your phone. Navigation feels smooth and straightforward, so you won’t get lost tapping around on a small screen.
- Fidelity.com – The main website gives you access to a bunch of options tools, like the Options Strategy Evaluator, Options Probability Calculator, and a Profit/Loss Calculator. It also includes the Options Strategy Builder and OptionsPlay® for step-by-step strategy building, plus timely options trade ideas when you need inspiration.
- Active Trader Pro® – This downloadable platform is really for advanced traders. It streams quotes and charts in real time, lets you set up custom options filters for market scanning, and packs in specialized analysis tools. You can tweak the display however you want and dig deep into advanced options analysis.
Costs
Fidelity keeps its pricing pretty straightforward if you trade options:
- There’s an Options Regulatory Fee for every buy and sell transaction.
- Rates can change, so check Fidelity.com/commissions for the latest numbers.
- Strategies with multiple legs, like spreads or collars, cost more than single-leg trades.
- None of Fidelity’s options trading platforms charge platform fees.
- Third-party tools, including OptionsPlay, come included at no extra cost.
Pros and Cons
Pros:
- You can pick from several platforms, each fitting different trading styles or levels of experience.
- Every platform comes with a solid lineup of options analysis tools.
Cons:
- If you want to use complex options strategies with multiple legs, you’ll face extra costs.
- Active Trader Pro needs to be downloaded, and honestly, beginners might find it a bit tough to get the hang of at first.