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Software · head to head

Fidelity vs Venmo

Fidelity logo

Fidelity

Software

Building a better financial future

From
On request
Rated
-
Full reviewWebsite
Venmo logo

Venmo

Software

Money transfer and social payments

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Venmo has a free tier, so it costs nothing to try first.
  • Each has a real cost: Fidelity options trades carry a 0.65 USD per contract fee on top of zero commission; Venmo instant transfer costs 1.75 percent with a minimum fee of 0.25 USD and a maximum of 25 USD, while the free standard transfer takes 1 to 3 business days
  • They diverge on capability: Fidelity covers Commission-free trading, Venmo covers Money transfers.

Where they differ

Only the attributes on which Fidelity and Venmo actually diverge.

Attributes where Fidelity and Venmo differ
AttributeFidelityVenmo
Starting priceOn requestFree
Pricing modeltransactionfree
Free tierNoYes
Founded19462009

Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Fidelity

  • Commission-free trading
  • Retirement planning
  • Advisory services
  • Research tools
  • Investment accounts

Only in Venmo

  • Money transfers
  • Bill splitting
  • Social feed
  • Transaction history
  • Debit cards

Both cover

  • Bank accounts
  • Web support
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Fidelity

  • Commission free trading of US stocks and ETFsnot Venmo
  • Holding IRAs, 401(k) plans and taxable brokerage accountsnot Venmo
  • Trading bonds, options and mutual funds from one accountnot Venmo

Venmo

  • Splitting bills and reimbursing friends in the United Statesnot Fidelity
  • Accepting payments through a Venmo business profilenot Fidelity
  • Buying and holding cryptocurrency inside the payments appnot Fidelity

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Fidelity

  • Options trades carry a 0.65 USD per contract fee on top of zero commission
  • Non Fidelity mutual funds carry a 49.95 USD transaction fee per purchase
  • Secondary market bonds cost 1.00 USD per bond, while new issues are free
  • A foreign settlement fee of 50 USD applies per trade
  • Margin rates are tiered by debit balance, from 11.825 percent below 25,000 USD down to 7.50 percent at 1 million USD or more, against a base rate of 10.575 percent effective 12 December 2025
  • Margin liquidation by the broker costs 32.95 USD per liquidation

Venmo

  • Instant transfer costs 1.75 percent with a minimum fee of 0.25 USD and a maximum of 25 USD, while the free standard transfer takes 1 to 3 business days
  • Sending money funded by a credit card carries a 3.00 percent fee
  • Cryptocurrency fees are tiered by trade size, from 2.20 percent on purchases of 1.00 to 74.99 USD down to 1.50 percent above 1,000 USD
  • Business profile payments cost 1.9 percent plus 0.10 USD, and Tap to Pay costs 2.29 percent plus 0.09 USD

Pricing, plan by plan

Fidelity

On request
  • Brokerage$undefined/month
    • Commission-free trading
    • Research tools
  • Advisory$undefined/month
    • Personal advisor
    • Wealth management

Venmo

Free
  • FreeFree
    • P2P transfers
    • Bill splitting
    • Mobile app

Which should you pick?

Choose Fidelity if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Fidelity review

Choose Venmo if

  • You need money transfers.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want bill splitting.
Venmo review

Questions people ask

Is Fidelity or Venmo better?
Neither clearly leads. Fidelity starts at On request and Venmo at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Fidelity or Venmo?
Venmo has a free tier; the other does not. Paid plans start at On request for Fidelity and Free for Venmo.
Does Fidelity or Venmo run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
Can I use Venmo for free?
Yes. Venmo has a free tier, so you can try it without paying. Fidelity starts at On request.
What is Fidelity best used for?
Fidelity is most often used for commission free trading of us stocks and etfs, holding iras, 401(k) plans and taxable brokerage accounts, trading bonds, options and mutual funds from one account. Of those, commission free trading of us stocks and etfs and holding iras, 401(k) plans and taxable brokerage accounts are not what Venmo is typically brought in for.
What can Fidelity do that Venmo cannot?
Fidelity covers Commission-free trading, Retirement planning, Advisory services, Research tools. Venmo covers Money transfers, Bill splitting, Social feed, Transaction history. Both handle Bank accounts, Web support, IOS support, Android support.
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