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Fidelity Investments review

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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 typesRetirement
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 securities 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.

Pros and cons

Pros

  • 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. 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 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.

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.

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 Go

Fidelity’s robo-adviser doesn’t require portfolio minimums and charges no advisery 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% advisery 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. advisery fees range from 0.50% to 1.50%, depending on the size of your portfolio.

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.

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.

How easy is it to use?

The Fidelity platform is accessible by desktop, web browser and mobile app. You can choose from individual brokerage accounts, margin accounts and IRAs.

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 the 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.

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.

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.

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%

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 December 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 94 reviews. Customers complain of poor customer service and having their account access blocked for verification purposes or having their accounts closed without explanation.

That said, its mobile app receives high praise, scoring 4.6 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 robo-advisors

Name Product Minimum deposit to open Available asset types Annual fee
Titan
$100
Stocks
1% on balances of $10,000+
Titan Invest offers portfolios that seek to outperform the market while hedging against market downturns.
SoFi automated investing
$1
Stocks, ETFs
0%
Put your money to work. Let SoFi build and manage a portfolio for you. Pay zero SoFi management fees.
Acorns
$0
ETFs
$1 per month
Invest your spare change. Anyone can grow wealth.
Betterment
$0
Stocks
0.25% on balances up to $99,999

0.4% 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.
Blooom
Stocks, Bonds
$45 per year
After an analysis, Blooom will place the trades within your 401k, 403b, 401a, 457 or TSP plan account for a low flat fee.
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Compare up to 4 providers

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 click Open an account.
  2. Choose which type of account you’d like to open and click Open now.
  3. Choose between a joint or individual account, then click Next.
  4. Enter your full name and email address and click Get started.
  5. Enter your personal information, including your Social Security number, date of birth, phone number and residential address. Click 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.

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.

Frequently asked questions

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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