Fidelity Investments review

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Discover commission-free trades, no expense-ratio index funds and powerful research tools for all types of investors.

finder.com’s rating: 4.2 / 5.0

★★★★★

Fidelity lets you trade stocks, ETFs and options with no commissions. You also have access to hundreds of mutual funds that charge no expense ratios. So you get to keep more of your money. It also offers a respectable mix of beginner support and advanced tools, making it a practical choice for both new and experienced investors. But watch out for high broker-assisted trades.

  • Consider Fidelity Investments if you’re a new or experienced investor seeking self-directed trading or wealth management.
  • Look elsewhere if you’re a cryptocurrency or forex trader.

$0

Stock trade fee

$0

Minimum deposit to open

Details

Stock trade fee$0
Option trade fee$0 + $0.65/contract
Asset typesStocks, Bonds, Options, Mutual funds, ETFs
Account typesBrokerage, Retirement
Government bond trade fee$0
Mutual fund trade fee$0
Minimum deposit to open$0
Account transfer fee$0

Overview

Fees

★★★★★ 3.5/5

It offers commission-free trades and free account transfers, but fees for some mutual funds and robo-advising are higher than average.
Available securities

★★★★★ 4/5

It’s got all the standards except for futures, forex and crypto.
Customer support

★★★★★ 5/5

Support can be reached three ways and is available 24 hours a day.
Mobile app

★★★★★ 4.8/5

Both Google and Apple users submit high ratings for Fidelity’s mobile app.
Research and tools

★★★★★ 4.5/5

It offers stock and ETF screeners, real-time analytics and more.
Reliability

★★★★★ 3/5

Investors complain of account closures and having their account access blocked.
Bonus star

1

We awarded a bonus star for offering access to precious metals.

To learn how our star ratings are calculated, read the methodology at the bottom of the page.

What investments does Fidelity Investments offer?

Fidelity offers access to plenty of the standard securities.

  • Stocks and ETFs. Swap commission-free stocks, ETFs and fractional shares from a range of domestic and international companies.
  • Bonds and CDs. Purchase over 40,000 new and secondary-issue bonds and CDs.
  • Mutual funds. Access over 10,000 funds from hundreds of companies through Fidelity’s FundsNetwork.
  • Options. Buy and sell options for $0.65 per contract with the help of custom screeners and analytics.
  • Precious metals. Diversify your portfolio with gold, silver and palladium coins and bullion.

Who is Fidelity Investments best for?

Fidelity empowers investors to make informed trades backed by research and professional insights, making it a practical choice for:

  • Beginner investors. Commission-free trades, a suite of trading tools and straightforward educational resources make Fidelity a practical choice for beginners.
  • Experienced investors. Advanced traders can research and execute trades with real-time market data, advanced charting, one-click trading and more.
  • Passive investors. Fidelity offers robo-advising, hybrid robo-advising and wealth management services backed by financial advisers for those seeking a guided investment strategy.
  • International investors. Investors interested in international markets can buy and sell stocks from 25 countries across 16 currencies.

Fees and costs

Commissions and account fees vary by account type and investment service.

Active trading

Fidelity’s active trading fees are well-priced. Like many of its competitors, including Robinhood and WeBull, Fidelity has ditched the commissions on stocks and ETFs. You’ll pay $0.65 for options contracts, but this is comparable with the $0.50 to $0.65 most of Fidelity’s competitors charge.

Fidelity shines by offering free account transfers — almost all other platforms charge $50 to $95 to move funds out of a brokerage account. But the platform falls short when it comes to buying and selling mutual funds. The $49.95 trade fee on non-Fidelity funds is the highest we’ve seen.

Minimum deposit to open$0
Stock trade fee$0
ETF trade fee$0
Options trade fee$0.65 per contract
Bond and CD trade fee (new issues)$0
Bond and CD trade fee (secondary issues)$1 per bond
Broker-assisted US treasury trade fee$19.95
Fidelity mutual fund trade fee$0
Non-Fidelity mutual fund trade fee$49.95 per purchase, $0 on redemption
Non-Fidelity NTF mutual fund trade fee$0 on purchase, $49.95 on redemption if held less than 60 days
Broker-assisted stock, ETF or options trade$32.95
Account transfer fee$0

Managed accounts

Fees for Fidelity’s human and robo-advisor portfolio management services creep toward the pricey end of the spectrum for large balances. Fidelity GO’s management fee is 0.35% on balances larger than $35,000. Meanwhile, Betterment charges 0.25% on balances up to $100,00. SoFi doesn’t charge any management fee at all.

You’ll also pay a higher fee to access the platform’s wealth management services, but most platforms charge more for the time and expertise of a dedicated financial adviser.

Minimum investmentAnnual advisory fee
Fidelity Go $0Under $10,000: $0​​​
$10,000–$49,999: $3 per month​​​
$50,000 and above: 0.35%
Fidelity Personalized Planning and Advice $25,0000.50%
Fidelity Wealth Management$250,0000.50%-1.50%
Fidelity Private Wealth Management $2 million0.20% – 1.04%

How do I sign up?

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

Online

  1. Visit the Fidelity website and select Open an account.
  2. Choose which type of account you’d like to open and select Open now.
  3. Choose between a joint or individual account, then select Next.
  4. Enter your full name and email address and select Get started.
  5. Enter your personal information, including your Social Security number, date of birth, phone number and residential address. Select Next.
  6. Verify your account details and complete the application process by funding your account.

At a branch

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

Eligibility

  • At least 18 years old
  • Valid Social Security number
  • Residential US address
  • Existing bank or brokerage account for account transfers

Required information

  • Driver’s license
  • Social Security number or Tax Identification Number
  • Employer’s name and address
  • Bank login information

Research tools

Fidelity offers a comprehensive suite of research resources and trading tools:

  • Daily Dashboard. Use the heatmap to view your positions, scan top news headlines, view a calendar of earnings announcements, read the morning briefing from S&P Global, sign up for educational webinars and more.
  • Stock and ETF screeners. Filter over 6,000 stocks and ETFs based on hundreds of customizable filters and search criteria.
  • Equity summary score. Compile stock ratings from various independent analysts into a single score with the Equity Summary Score by StarMine from Refinitiv.
  • Real-time analytics. Set actionable alerts and identify trading opportunities with real-time analytics.
  • Trade Armor. Explore trade and risk management strategies, profit and loss scenarios and entry or exit strategies with interactive charting technology.
  • Stock dashboard. Access analysis and technical events from Recognia, track social media trends with the Social Sentiment Score and explore independent research reports.
  • Learning center. Build your knowledge with articles, videos, infographics, courses, events and webinars on a slew of personal finance and investment topics.

Pros and cons

Pros

  • Commission-free trades. Each US stock, ETF and options trade comes with a $0 commission. Fidelity charges $0.65 per contract on options.
  • Mutual fund advantages. Choose from a range of mutual funds with zero expense ratios and no investment minimums.
  • Versatility. New investors can benefit from its intuitive platform, while more experienced investors can customize its desktop version to meet their needs.
  • Research. Research for stock and ETF comes from third-party providers. Take a quiz to help choose insights from providers that match your investment style.
  • Easy access. Manage your accounts online or via mobile app, or use a Cash Management 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.

Cons

  • High fees on certain mutual funds. Purchase fees for non-Fidelity mutual funds will cost you $49.95.
  • Expensive robo-advisor. Fidelity’s robo-advisor has higher fees than most competitors when it comes to large balances, and it doesn’t offer tax-loss harvesting.
  • Broker-assisted fee. If you need the help of a broker to make a stock or ETF trade, expect to pay $32.95.
  • Account closures. Fidelity investors report having their accounts closed without explanation.

Fidelity Investments account options

Fidelity trading reaches beyond self-directed brokerage accounts to encompass numerous investment accounts and strategies for a spectrum of investors.

Self-directed brokerage accounts

Individual and joint brokerage accounts come with commission-free stocks, ETFs, bonds, mutual funds and options trading across domestic and international markets. Account types include individual accounts, traditional IRAs, Roth IRAs, Rollover IRAs, self-employed IRAs and self-employed 401(k)s.

Fidelity Go

Fidelity’s robo-adviser doesn’t require portfolio minimums and charges no advisory fee on balances up to $10,000. From there, the fee gradually goes up to 0.35% on balances of $50,000 or more. You answer questions about your investment goals, and once your account reaches $10, Fidelity’s robo-adviser starts investing.

Fidelity Personalized Planning and Advice

For investors that want the best of both worlds, Fidelity’s hybrid robo-adviser offers digital portfolio management with access to advisers over the phone to help you review your investment plan. It requires a $25,000 minimum investment and a 0.50% advisory fee.

Fidelity Wealth Management

Hands-off investors with at least $250,000 in their portfolio can utilize Fidelity’s personalized one-on-one wealth management service. Your financial adviser assesses your risk tolerance and helps you devise an asset allocation strategy that best fits your needs. Your adviser can also design for you a comprehensive financial plan to help you meet multiple goals. Advisory fees range from 0.50% to 1.50%, depending on the size of your portfolio.

    Is Fidelity Investments legit?

    Fidelity Investments was founded in 1946 as the Fidelity Management & Research Company. Its headquarters are located in Boston, and it serves investors across the US through 10 regional offices and over 190 investor centers. It has over 30 million customers and over $8.3 trillion in total customer assets.

    It has its own Better Business Bureau (BBB) page but isn’t a BBB-accredited business. Brokerage accounts and custodial services are offered by Fidelity Brokerage Services LLC and National Financial Services, both members of the Securities Investor Protection Corporation (SIPC).

    How does Fidelity Investments keep my money safe?

    Fidelity is covered by SIPC insurance, which provides up to $500,000 in coverage — including $250,000 for cash balances — from fraud and bankruptcy. Losses from market fluctuations and volatility are not covered.

    Fidelity uses encryption, firewalls and 24-hour system surveillance to protect customer data. Further safeguard your account by enabling two-factor authentication, security questions, security text alerts and voice recognition account access.

    Fidelity reviews and complaints

    Fidelity feedback is mixed. It has plenty of positive feedback from Redditors but maintains a poor reputation on Trustpilot and the Better Business Bureau (BBB).

    As of March 2021, Fidelity isn’t BBB-accredited, holds a C- rating for failing to resolve BBB complaints. Its customers give it 1.05 out of 5 stars after 74 reviews. Its Trustpilot reputation is similarly worrisome, sporting a TrustScore of 1.3 out of 5 after 201 reviews. Customers complain of poor customer service or having their account access blocked for verification purposes or without explanation.

    That said, Fidelity’s mobile app receives high praise, scoring 4.2 out of 5 and 4.8 out of 5 on Google Play and the Apple App Store respectively. Redditors also speak well of the platform, citing Fidelity’s comprehensive research tools and intuitive interface being particularly well-suited to buy-and-hold investors.

    Compare other stock trading platforms

    Consider your options by comparing minimum deposits, asset types and annual fees. Choose the Go to site button for more information about a particular service.

    Name Product Stock trade fee Asset types Option trade fee Annual fee Signup bonus
    Robinhood
    $0
    Stocks, Options, ETFs
    $0
    0%
    Free stock (chosen randomly with a value anywhere between $2.50 and $200)
    Sign up using the "go to site" link
    Make unlimited commission-free trades in stocks, funds, and options with Robinhood Financial.
    Interactive Brokers
    $0
    Stocks, Bonds, Options, Mutual funds, ETFs, Currencies
    $0 + $0.65/contract, $1 minimum
    0%
    N/A
    IBKR Lite offers $0 commissions, and IBKR Pro offers advanced tools for professional traders.
    Sofi Invest
    $0
    Stocks, ETFs, Cryptocurrency
    N/A
    0%
    Get one free stock worth up to $1,000
    Open an account
    A free way to invest in stocks, ETFs and crypto.
    Webull
    $0
    Stocks, Options, ETFs
    $0
    0%
    Get one free stock valued between $2.50 and $250 when you open an account, one more with a deposit
    Open an account
    Margin financing rates start at 3.99%. No monthly subscription fees for margin.
    Public
    $0
    Stocks, ETFs
    N/A
    $0 per month
    N/A
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    Compare up to 4 providers

    *Signup bonus information updated weekly.

    Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

    How do I contact Fidelity Investments support?

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

    • Phone. Call 1 (800) 343-3548 any time.
    • Email. Fill out a secure online form on Fidelity’s website for a response from the team within 48 hours.
    • Live chat. Visit the Contact Us page on the Fidelity website to chat with the Virtual Assistant.

    Bottom line

    With some of the lowest fees in the industry and an arsenal of tools that work for beginner and advanced traders, Fidelity has a lot to offer. But it doesn’t offer cryptocurrency or forex trading and some customers complain of having their accounts blocked or closed.

    Not sure Fidelity is right for you? Compare your options to find a trading platform that best meets your needs.

    How we rate trading platforms

    ★★★★★ 5/5 — Excellent

    ★★★★★ 4/5 — Good

    ★★★★★ 3/5 — Average

    ★★★★★ 2/5 — Subpar

    ★★★★★ 1/5 — Poor

    We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.

    For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.

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