Fidelity Investments review May 2019 |

Fidelity Investments review

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Fidelity Investments
  • Planning and advice
  • Straightforward pricing
  • Robust investing tools

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Research-backed wealth management and brokerage services with help from a dedicated advisor.

Fidelity Investments is designed for both beginner and experienced investors. It offers tools to customize and analyze your trades, and guidance supported by stock research. But watch out for high margin rates and fees.

Minimum deposit to open$25,000
Available asset typesStocks
Mutual funds
Stock trade fee$4.95
Option trade fee$4.95 + $0.65/contract
Government bond trade fee$0
Corporate bond trade fee$0
Mutual fund trade fee$49.95
Annual fee0.35%
Minimum deposit to open$0
Available asset typesMutual funds
Available asset classesGovernment bonds
Corporate bonds
Foreign developed stocks
US stocks

Who is Fidelity best for?

Fidelity empowers investors to make informed trades backed by research and professional insights, making it best for:
  • Beginner investors. Fidelity’s website is geared toward new investors with a suite of trading tools and easy-to-digest educational resources. It also offers 24/7 customer service for peace of mind.
  • Long-term investors. The retirement score tool along with financial planning, advice and wealth management make Fidelity a good fit for those investing for retirement.
  • Experienced investors. Active Trader Pro is a customizable desktop platform that allows traders to research and execute trades with real-time market data, advanced charting, one-click trading and more.

What are the benefits of Fidelity?

There are a number of reasons why Fidelity is widely considered a solid investing platform:

  • Versatility. Fidelity’s platform is a strong choice for new investors, but the desktop version can be customized to suit the needs of more experienced investors.
  • Tools and resources. Get access to a suite of resources like Full View, which gives you a snapshot of all of your assets, a free retirement score and more.
  • Research. Fidelity gets stock research from 19 providers, ETF research from six providers and has a quiz to help customers choose insights from providers that match their investment style.
  • Easy access. Fidelity allows users to manage their accounts online or via mobile app and offers a Cash Management account — an investment account with checking and ATM access.
  • Customer service. Fidelity has a reputation for its accessible customer service with 24/7 access and over 140 branches.

What to watch out for

Despite its solid reputation and long list of benefits, there are a few things to look out for if you decide to use Fidelity:

  • High margin rates. Fidelity has above-average margin rates compared to some of its competitors.
  • Trade minimum. Fidelity’s active trading platform, Wealth-Lab Pro, requires a minimum of $25,000 in eligible funds in your brokerage account and 36 trades per year.
  • High mutual fund fees and minimums. There’s a $50 purchase and renewal fee on non-Fidelity mutual funds. There’s also a $2,500 balance requirement to invest in mutual funds, though you can avoid the minimum if you set up automatic investments of at least $200 per month.
  • Management fees. Fidelity portfolio advisory and wealth management fees are similar to what is charged by standard investment advisors.
  • Broker-assisted fee. If you need the help of a broker to make a trade, expect to pay $33.
  • Robo-advisor. Fidelity’s robo-advisor has higher fees than some competitors, and it doesn’t offer tax-loss harvesting.

Case study: Liza’s experience

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Liza Schneider
Client Services

I rolled my 401(k) into a Fidelity IRA a few years ago. The product is as advertised: I manage the account and research, buy and sell all of my own stocks. Every year I contribute the max allowed by law before taxes kick in (in 2019, it’s $6,000), but no more, and then I let the market do its thing.

This kind of account works well for people who don’t have a large enough portfolio to justify managed service, but have the time and ability to choose their own stocks and the appropriate portfolio mix.

Fidelity provides a few handy research docs and daily tips. But, otherwise, you’re on your own, in my experience. The interface is easy to follow, and I appreciate that it shows me if I’m too heavily invested in one sector versus another.

What do other investors say about Fidelity?

While Fidelity has won awards from various review websites and has many satisfied customers, it doesn’t have a great reputation on the BBB website. It isn’t BBB-accredited, holds a C- rating and has a 1 out of 5 star customer review score.

However, keep in mind that many customers will only take the time to leave a complaint if they have a negative experience, which could be why you don’t see as many positive reviews online.

Compare with other robo-advisors and stock trading platforms

Name Product Minimum deposit to open Available asset types Annual fee
Automated pure equity investing to help you achieve your goals. Free portfolio management for the first six months.
Put your money to work. Pay zero SoFi management fees.
0.25% on balances up to $99,999

0.15% on balances of $100,000+
Betterment's automatic investment site aims to improve your returns and support good financial habits with passive investing and financial planning support.
Index funds
Wealthfront builds a free financial plan for the life you want and automate your investments at a low cost.
0.3% on balances of $2,500+
Automated investing, professionally managed.
$1 per month
Invest your spare change. Anyone can grow wealth.

Compare up to 4 providers

Name Product Available asset types Annual fee Option trade fee Stock trade fee
Mutual funds
$3 + $0.75/contract
$0.01 per share
($3 minimum)
Trade stocks, options and ETFs for as low as $1 per order until 2020 when you open and fund a new account by May 31, 2019.
Mutual funds
100+ commission-free online stock and ETF trades with $0 minimum to start. Just $2.95 per trade thereafter.
Mutual funds
$4.95 + $0.65/contract
or $3.95 + $0.50/contract with a $100,000 average daily balance or 30+ trades over a rolling 3-month period
or $3.95 with a $100,000 average daily balance or 30+ trades over a rolling 3-month period
Some of the industry's lowest fees plus a cash bonus up to $3,500.
1% on balances up to $5,000

0.25% on balances of $5,001+
Stash is more than an investment app. You’ll have access to tools that can help you become a confident investor.
Mutual funds
$4.95 + $0.65/contract
Get easy-to-use tools and the latest professional insights from a team of specialists.

Compare up to 4 providers

How do I get started?

You can sign up for a Fidelity account online or at a branch:


  1. Visit the Fidelity website and click Open An Account.
  2. Choose which type of account you’d like to open and click the orange button beside it.
  3. Choose between a joint or individual account, then click Next.
  4. Enter whether or not you’re currently a Fidelity customer, fill in the required fields, then click Get Started.
  5. Enter your personal information and how many trades you plan on making, then click Next.
  6. Configure your account, then click Next.
  7. Verify all details and proceed to fund your account.

At a branch

Visit your local branch to speak with a representative and find out how to get started.


Regardless of how you choose to open an account, you’ll need to meet a few eligibility requirements:

  • Valid Social Security number
  • Valid US address
  • 18 years old
  • Bank or brokerage account to transfer funds from

Required information

During your application, you’ll be asked for the following information:

  • First and last name
  • Address, phone number and email
  • Social Security number
  • Employment information
  • Bank or brokerage account details

How do I contact Fidelity customer service?

If you need to get in touch with Fidelity Customer Service, representatives are available 24/7:

  • By phone: 800-343-3548
  • Email: Visit the Contact Us page on the Fidelity website or log in to your account to send a secure email.
  • Live chat: Visit the Contact Us page on the Fidelity website to chat with the Virtual Assistant.

I’ve made my first trade with Fidelity. Now what?

Once you’ve opened and funded your account, take advantage of everything Fidelity has to offer, such as:

  • Research. You have access to over 25 research providers. Read up before trading and check Equity Summary Scores to view historical accuracy of third party ratings.
  • Manage your portfolio. Log in online or via the mobile app to manage your portfolio, make trades, track progress and more.
  • Tools and resources. Visit the Planning & Guidance Center to access tools like your retirement score.
  • Understand tax implications. Read up on your state’s tax guidelines or visit an accountant to find out how your capital gains or losses may affect your income tax.
  • Try the mobile app. Download the mobile app to get access to trading, account management and other tools while you’re away from home.
  • Customize your dashboard. Download Active Trader Pro and customize your dashboard to suit your trading style and needs.
  • Contact customer service. Representatives are available by phone 24/7.

Bottom line

With some of the lowest fees in the industry and an arsenal of tools that are ideal for beginner and advanced traders, Fidelity could be what you need in a trading platform. But you won’t be able to invest in mutual funds until your account holds at least $2,500.

Not sure if it’s right for you? Compare your options to find out which trading platform is.

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