Research-backed wealth management and brokerage services.
finder.com’s rating: 4.2 / 5.0
Fidelity Investments offers a respectable mix of beginner support and advanced tools, making it a practical choice for both new and experienced investors. It offers a comprehensive lineup of tradable securities and guidance supported by stock research. But watch out for high management fees and costs for 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.
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
It offers commission-free trades and free account transfers but fees for mutual funds and robo-advising are higher than average.
It’s got all the standards except for futures, forex and crypto.
Support can be reached three ways and is available 24 hours a day.
Both Google and Apple users submit high ratings for Fidelity’s mobile app.
Research and tools
It offers stock and ETF screeners, real-time analytics and more.
Investors complain of account closures and having their account access blocked.
We awarded a bonus star for offering access to precious metals.
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.
What are actively-managed ETFs?
Fidelity’s latest offering is a new twist on an existing security: actively-managed ETFs. Investors can rely on standard ETF benefits, including intraday trading and tax-efficiency, with the advantage of buying into an actively managed investment. Unlike passively managed ETFs that follow ruled-based indexes, actively-managed ETFs contain a bundle of securities hand-picked by a fund manager. Under the expertise of a financial advisor, these ETFs have the opportunity to outmaneuver the market.
Fidelity offers three actively-managed ETFs:
Fidelity Blue Chip ETF (FBCG)
Fidelity Blue Chip Value ETF (FBCV)
Fidelity New Millenium ETF (FMIL)
Like Fidelity’s passive ETFs, its actively-managed ETFs are commission-free. But investors will still need to deal with expense ratios — typically 0.03 to 2.5%.
What is thematic investing?
Fidelity’s thematic investing offers investors the opportunity to purchase securities united by a particular theme or trend. Mutual funds and ETFs are available under the following themes:
Disruption. Focus on fast-paced industries, emerging tech and innovative business models.
Megatrends. Back large, overarching market trends, like global food production and water sustainability.
ESG. Align with environmental, social and governance trends, like sustainable resources, women’s leadership and alternative energy.
Outcome-oriented. Protect your interests with funds designed to balance your portfolio and deflect market volatility.
Differentiated insights. Shape your portfolio with an investment informed by Fidelity’s global investment team.
How can I invest?
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.
Fidelity’s robo-advisor doesn’t require portfolio minimums and charges a flat 0.35% advisory fee. Answer questions about your investment goals, and once your account reaches $10, Fidelity’s robo-advisor starts investing.
Fidelity Personalized Planning and Advice
For investors that want the best of both worlds, Fidelity’s hybrid robo-advisor offers digital portfolio management with access to a team of advisers to help you review your investment plan and offer one-on-one financial coaching. It requires a $25,000 minimum investment and a 0.50% advisory fee.
Fidelity Wealth Management
Hands-off investors with at least $50,000 in their portfolio can utilize Fidelity’s personalized one-on-one wealth management service. Your dedicated financial adviser assesses your risk tolerance and helps you devise an asset allocation strategy that best fits your goals. Advisory fees range from 0.50% to 1.50%, depending on the size of your portfolio.
Fidelity Strategic Discipline
These separately managed accounts are for investors who want to build a stock or bond portfolio around a specific investment strategy. There are nine strategies to choose from with minimum investments starting at $100,000 and advisory fees between 0.20% and 1.50%.
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 easy-to-digest 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.
Fidelity’s low fees, resources, investment options and round-the-clock support make it a practical choice for a diverse range of investors. The platform is accessible by desktop, web browser and mobile app. Choose from individual brokerage accounts, margin accounts, IRAs — or IRAs and 401(k)s for those who are self-employed.
Beginners can partake in interactive virtual coaching sessions on trading basics, technical analysis, trading tools and market briefings. Experienced investors have access to advanced trading tools, including the Active Trader Pro Platform that offers real-time market updates and portfolio management tools.
Fidelity also offers an impressive range of advising services, from its robo-advising platform, Fidelity Go, to its wealth management services for investors seeking personalized one-on-one portfolio management from a dedicated financial advisor.
How easy is it to use?
Investors report that Fidelity’s trading platform is intuitive and easy to learn but suffers from delayed position updates and slow fill times. Some investors prefer that platform’s desktop interface for charting and research, while others prefer the mobile app for filling orders on the go.
The signup process is quick, taking only a few minutes. Include some basic personal information, like your Social Security number, and be prepared to fund your account with an external account.
What research and tools does it provide?
Fidelity’s 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 a variety of 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.
What is Active Trader Pro?
Active Trader Pro is an advanced desktop platform designed with the experienced investor in mind. Available for PC and Mac, the platform can be downloaded from Fidelity’s website and investors need a Fidelity brokerage account to sign in.
The platform features a number of sophisticated research and analysis tools, including real-time market updates, streaming quotes, earnings announcements and streaming order status updates. Stock screeners are equipped with over 45 technical and social market filters for investors to pinpoint ideal securities for their portfolio.
Extended hours trading allows investors to place orders after the bell. And the Option Trade Builder helps teach investors how to execute options trades. The platform’s advanced charting tools feature numerous drawing tools, indicators and events available for application, as well as technical analysis patterns, stops, support and resistance.
The platform is also customizable, so investors can create personalized layouts and use hotkeys to swiftly navigate the platform.
Pricing and fees
Commissions and account fees vary by account type and investment service.
Fidelity’s active trading fees are well-priced. Like many of its competitors, including Robinhood, Webull and Ally Invest, 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
Stock trade fee
ETF trade fee
Options trade fee
$0.65 per contract
Bond and CD trade fee (new issues)
Bond and CD trade fee (secondary issues)
$1 per bond
Broker-assisted US treasury trade fee
Fidelity mutual fund trade fee
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
Account transfer fee
Fees for Fidelity’s human and robo-advisor portfolio management services creep toward the pricey end of the spectrum. While 0.35% to access a robo-advisor doesn’t seem like much, Betterment and Wealthfront only charge 0.25%, and Ally Invest and SoFi don’t charge anything at all.
You’ll 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 advisor.
Annual advisory fee
Fidelity Personalized Planning and Advice
Fidelity Wealth Management
Fidelity Strategic Discipline
Is Fidelity Investments safe?
Fidelity Investments was founded in 1946 as the Fidelity Management & Research Company. Its headquarters are located in Boston, Massachusetts 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 October 2020, it isn’t BBB-accredited, holds a C- rating and has a 1.1- out of 5-star customer review score. Its Trustpilot reputation is similarly worrisome, sporting a 2 out of 5 TrustScore based on 91 reviews. Customers complain of having their account access blocked for verification purposes or having their accounts closed without explanation.
That said, its mobile app receives high praise, scoring 4.5 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.
Pros and cons
Commission-free trades. Each US stock, ETF and option trade comes with a $0 commission. Fidelity charges an additional $0.65 per contract on options.
Mutual fund advantages. Most of Fidelity‘s mutual funds have no account minimums and it doesn’t charge commissions on Fidelity funds.
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 come 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.
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, 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.
Case study: Liza’s experience
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.
Compare other robo-advisors
How do I sign up?
You can sign up for a Fidelity account online or at a branch:
Visit the Fidelity website and click Open an account.
Choose which type of account you’d like to open and click Open now.
Choose between a joint or individual account, then click Next.
Enter your full name and email address and click Get started.
Enter your personal information, including your Social Security number, date of birth, phone number and residential address. Click Next.
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.
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 800-972-2155 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.
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.
Frequently asked questions
You can fund your account with a transfer from an existing bank or brokerage account. Submit your funding information during your application, then make a deposit into your Fidelity account to start trading.
Send an ETF to your bank, request a check to be sent to your address or send a wire to your bank.
Call the number on your account statements or the general customer service number and let them know you’d like to close your account. Otherwise, you can send a letter with your account number, contact information, account holders and all other important account-related details.
Fidelity offers access to the following account types:
Individual brokerage account
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.
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