Item: Fidelity
Rating: 4.5

Regulated and trusted. Tested via live trading.

11,980 people chose this broker

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Why choose Fidelity

Fidelity, one of the largest stockbrokers in the US, offers commission-free stock and ETF trading.

The broker has an excellent product selection and provides a large variety of tools to support your investment research. It has a great web trading platform, which makes it a good choice for beginners as well.

However, opening an account can take a bit longer compared to some of its close competitors. Among other drawbacks, some mutual funds have high fees and margin trading is somewhat on the expensive side.

Pros

Cons

Commission-free US stocks and ETFs
Great trading platforms and research
US and international stocks

High mutual fund fees and margin rates
Slower account verification
Some products not available (e.g. futures)

Fidelity

4.5/5

Minimum deposit

Stock fee

Low

Options fee

Low

Inactivity fee

Account opening

1-3 days

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US stock fee

Estimated commission of a $2,000 trade, assuming a $50 stock price

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Fees

Score: 3.3/5

Fidelity has average trading and low non-trading fees, including commission-free US stock trading. On the negative side, margin rates and fees for some mutual funds can be high.

Pros

Cons

Free stock and ETF trading
Low bond fees
No inactivity fee

High fees for non-free mutual funds
High margin rates

We compared Fidelity's fees with two similar brokers we selected, E*TRADE and Charles Schwab. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Fidelity alternatives.

Commission-free stock and ETFs

It’s extremely great as Fidelity has commission-free US stock trading.

Fidelity stock and ETF commission
Broker	US stock
Fidelity	$0.0
E*TRADE	$0.0
Charles Schwab	$0.0

This is the case when you trade US stocks. On the other hand, international stock trade fees are relatively high. Still, it is not common for US brokers to offer non-US stocks at all.
There is also a small charge on sell orders, as they are subject to an activity assessment fee of $0.01-$0.03 per $1,000 of principal.

High margin rates

Fidelity USD margin rate fees are higher than the industry average. USD margin rate fees are calculated as follows: Base rate + tiered markup. Markup is +1.25% for balance of 0-25k.

Fidelity annual margin rates
Broker	USD margin rate
Fidelity	12.8%
E*TRADE	13.5%
Charles Schwab	12.8%

Low options commission

Fidelity US stock index options fees are about half of the industry average. US stock index options fees are calculated as follows: $0.65 fee per contract

Fidelity stock index options commission
Broker	US stock index options
Fidelity	$6.5
E*TRADE	$6.5
Charles Schwab	$6.5

They cost $0.65 per contract.

No inactivity fee, no withdrawal fee

There are no inactivity or account fees. There are also no withdrawal fees for ACH and USD wire withdrawals. Non-USD wire withdrawals however cost 3% of the amount you withdraw. In our review, we tested an electronic (ACH) withdrawal, which worked without any problem.

Fidelity inactivity, withdrawal and other fees
Broker	Inactivity fee	Withdrawal fee
Fidelity		$0
E*TRADE		$0
Charles Schwab		$0

In addition, there is a currency conversion fee if you trade an international stock that is denominated in a currency other than your account's currency. The currency conversion fee depends on the amount you trade.

Fidelity currency conversion fee
Amount you trade	Cost (% of the traded amount)
Less than $100k	1.00%
$100k - <$250k	0.75%
$250k - <$500k	0.50%
$500k - <$1 million	0.35%
Above $1 million	0-0.20%

Other commissions and fees

High mutual fund commission: trading mutual funds involves the following charges - $49.95 or $75 for buying while selling is free; some 3,600 free mutual funds.

High spot crypto fees: at Fidelity, crypto trading costs 1% of trade value.

Low bond commission: US treasury bonds come with the following charges - $0 for Treasury bonds, and $1 per bond with a $250 max for other bonds.

Misc. fees compared with other brokers
Broker	Mutual fund	US micro e-mini stock index futures
Fidelity	$37.5	-
E*TRADE	$0.0	$15.0
Charles Schwab	$25.0	$22.5

Check out a detailed analysis of all the fees, commissions, and other charges levied by Fidelity for more information.

Safety

Fidelity is a legit brokerage. It is regulated by top-tier financial authorities and has a high level of investor protection. However, there is no negative balance protection and its financial information is not public.

Pros

Cons

Majority of clients belong to a top-tier financial authority
High level of investor protection
Additional coverage by Fidelity

No negative balance protection
Does not hold a banking license
Not listed on stock exchange

Is Fidelity regulated?

Yes, it is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Is Fidelity safe?

To be certain that a brokerage is safe, we highly advise that you check two facts:

how you are protected if something goes wrong
the background of the broker.

How you are protected

In this review, we concentrate on Fidelity services in the US. In the US, customers are served by Fidelity Brokerage Services LLC and as such are under the US investor protection scheme, called SIPC. This protects against the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000, which includes $250,000 for cash. This amount is substantially higher than what most investor protection schemes provide.
Not all investments are protected by SIPC. In general, SIPC covers notes, stocks, bonds, mutual funds and other investment company shares, and other registered securities. It does not cover instruments such as unregistered investment contracts, unregistered limited partnerships, fixed annuity contracts, currency, and interests in gold, silver, or other commodity futures contracts or commodity options.
Fidelity also provides an additional total of $1 billion coverage on an aggregate company level. There is no per customer limit on securities coverage, but there is a $1.9 million coverage limit on cash per account.
A further safeguard is Fidelity's Customer Protection Guarantee, whereby the firm will reimburse you for losses from unauthorized activity in covered accounts occurring through no fault of your own. You are automatically covered for all cash and securities held in your covered Fidelity account(s).
However, Fidelity does not provide negative balance protection. You won't be protected against the balance on your account going into negative territory.

Our brokerage experts put together a comprehensive guide on the safety profile of Fidelity.

Background

Fidelity was established in 1946. The longer the track record a broker has, the more proof we have that it has successfully survived previous financial crises.
As it is a privately-held company, you may have some trouble if you are looking for more information about Fidelity. There is quite limitedfinancial information available compared to other brokers. The company is owned by the Fidelity group's parent company, called FMR LLC.
Being regulated by top-tier authorities, having a long track record and providing additional insurance are all great signs of Fidelity's safety.

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Deposit and withdrawal

Score: 3.8/5

Fidelity offers an exceptionally wide range of base currencies. On the negative side, credit/debit cards are not accepted.

Pros

Cons

Free withdrawal
No deposit fee
Several account base currencies

Credit/Debit card not available

Account base currencies

At Fidelity, you can choose from the following 16 base currencies:

Fidelity base currencies
USD	EUR	GBP	AUD
CAD	DKK	HKD	JPY
MXN	NZD	NOK	PLN
ZAR	SGD	SEK	CHF

Fidelity offers a great base currency selection when compared to its closest competitors.

Base currencies at Fidelity vs similar brokers
Broker	Number of base currencies
Fidelity	16
E*TRADE	1
Charles Schwab	1

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Fidelity charges no deposit fees.

Clients can use a check, electronic (ACH), wire transfer and PayPal or Venmo for depositing funds. Credit/debit cards are not available for deposits.
Fidelity offers a feature called 'BillPay' as an additional service. With a subscription, you can make payments and manage your bills using your brokerage account.
We tested the ACH transfer and it took 2 business days for the funds to arrive.

Here's all you need to know about minimum deposit requirements and depositing money at Fidelity.

Fidelity deposit options
Broker	Bank transfer
Fidelity
E*TRADE
Charles Schwab

A bank transfer can take several business days. You can only deposit money from accounts that are in your name.

There are a lot of deposit options at Fidelity, including electronic wallets such as PayPal, Venmo, Apple Pay.

Fidelity withdrawal fees and options

Fidelity charges no withdrawal fees if you use ACH or USD wire withdrawal. Non-USD withdrawals cost 3%.

Fidelity withdrawal fees and options
Broker	Bank transfer
Fidelity
E*TRADE
Charles Schwab

Read our guide containing all key info on available withdrawal methods and related fees at Fidelity.

You can only withdraw money to accounts in your name.

How long does it take to withdraw money from Fidelity? We tested the ACH bank transfer withdrawal and it was completed within 2 business days.

How do you withdraw money from Fidelity? Follow these steps:

Log in to the account.
Go to 'Accounts & Trade', 'Portfolio', then select 'Transfer'.
Select the withdrawal method you want to use.
Select your Fidelity account as 'Transfer from'.
Select the account you want to withdraw the money to as 'Transfer to'.
Enter the amount you wish to withdraw and set the date.
Initiate the withdrawal.

You can also set automatic withdrawals.

Read more about Deposit and withdrawal Read more

Account opening

Score: 4.4/5

Opening an account at Fidelity is easy and there is no minimum deposit. You can also choose from many account types. However, account verification is a bit slow.

Pros

Cons

No minimum deposit
User-friendly
Many account types

Slower account verification
Not fully digital in some cases

Can you open an account?

Set your country in the navigation bar to see if you can open an account at Fidelity.

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Fidelity is a US stockbroker that targets US clients. In this review, we tested Fidelity's services provided within the US.
However, there are several countries where Fidelity is available through the Fidelity group's other subsidiaries. Fidelity Investments Canada serves only Canadian customers, while Fidelity International has a strong presence in Western Europe and South-East Asia. The range of available products and services varies by country.

Read our separate article on how to get your account started with Fidelity.

What is the minimum deposit at Fidelity?

The required Fidelity minimum deposit is $0.

This is the case for basic accounts. However, there is a minimum deposit for trade using a margin account or if you prefer investing in portfolios.

Fidelity minimum deposit by account type
Trading preferences	Minimum deposit
Trading at basic accounts	$0
Margin account*	$2,000
Day trading**	$25,000
Fidelity Managed Accounts	$10 - $500,000

* You trade with money borrowed from the broker, also called trading on leverage.
** You buy and sell assets on the same day.

Account types

Fidelity offers many different account types:

Fidelity account types
Account type	Description
Investing and Trading	All investment retail accounts have joint and individual options, except for the Fidelity Account for Business.
- Brokerage Account - Tested account	Standard brokerage account.
- Cash Management Account	FDIC-insured account is an alternative to checking.
- Brokerage and Cash Management	An overall account combining the features of a Brokerage and a Cash management account.
- Fidelity Account for Businesses	Comprehensive trading and cash management account for business needs.
Saving for retirement	Growth plans for retirement with tax contributions.
- Rollover IRA	An account to consolidate an old 401(k) IRA into a Fidelity account and to maintain tax advantages.
- Traditional IRA	An account to help you with tax-deductible contributions and earnings to withdraw in retirement.
- Roth IRA, Roth IRA for Kids	Tax-free withdrawals if conditions are met. Accounts are available for minors with an adult managing it.
- Inherited IRA, Inherited Roth IRA	These accounts are for you if you have inherited a Traditional IRA, SIMPLE IRA, SEP IRA or Roth IRA account and would like to continue them.
- Self-Employed IRA, Self-Employed 401(k)	Helps you to set up workplace savings either for self-employed individuals or business owners.
- Simple IRA	Offers tax contributions for small businesses (fewer than 100 employees).
- Investment-Only plans for Small Businesses	A brokerage account for small businesses with qualified plans which they would like to expand with Fidelity investment offerings.
- 401(k) Plan for Small Businesses	Retirement plans to offer for your employees.
*Managed accounts*	Accounts are managed by Fidelity's technology and professionals. Robo-advisor accounts are managed by Fidelity.
*Saving for education / medical expenses / ABLE (Achieve a Better Life Experience)*	Savings accounts for various goals.
- 529 account	An account eligible for state tax reductions.
- Custodial account	This is a brokerage account that lets you invest on behalf of a minor.
- Health Savings account	A plan that helps you save money on medical expenses that weren't spent.
- The Attainable Savings Plan	An account that helps disabled individuals and their families to invest and save for disability-related expenses.
Charitable giving
- Fidelity Charitable	An account that lets you get a tax deduction while supporting any charity.
*Estate planning*
- Trust, Estate accounts	Accounts that let you invest and manage a brokerage account on behalf of an established trust or estate.
*Annuities*
- Fidelity Personal Retirement Annuity	An account to save for retirement on a tax-deferred basis.
- Deferred Fixed Annuities	An account that offers a rate of return for a set period of time.
- Immediate Fixed Income Annuities	Provides a stream of income for the rest of a client's life or a set period of time.
- Deferred Income Annuities	Provides you and your spouse with guaranteed income beginning on a future date.
*Life insurance*
- Universal Life, Term Life Insurance	Permanent life insurance coverage.

In this review, we tested the Brokerage Individual Account.
If you want to trade with international stocks, you need to register for a supplemental service for your brokerage account called International Stock Trading. The registration is quick and straightforward and can be initiated within your brokerage account.

How to open your account

The account opening is user-friendly and fully digital in most cases. There can be cases when you have to mail or fax the account opening form and the photocopy of the relevant ID card to Fidelity. It took 3 business days for us to open the account, which is a bit slow compared to other brokers.
Steps at Fidelity to open an account:

Select the account type.
Add personal information, like Social Security Number, residency, employment status, etc.
Select your investment/trading preferences.
Review your information.
Acknowledge the terms and conditions.
Print and mail/fax the application.

The online part of the application takes roughly 20 minutes, but with the mail-in process, it took about 3 business days to open and verify the account.
Signing up for International Stock Trading was relatively quick and easy; it took 5 minutes after the brokerage account was verified.

Read more about Account opening Read more

Mobile app

Score: 5/5

Fidelity has a great mobile trading platform. It is user-friendly and well-designed.

Pros

Cons

User-friendly
Good search function
Good variety of order types

None

Fidelity's mobile trading platform is available both for iOS and Android. In this review, we tested the iOS version. The platform is available in English.

Look and feel

The Fidelity mobile trading platform isuser-friendly. It is more up-to-date than the web trading platform.

Login and security

Fidelity provides a safer, two-step login for its mobile platform.

Fidelity offers you free use of Symantec’s Validation and ID Protection (VIP) Access app, which generates a randomized 6-digit code or alternatively you can use text messages to log in.

You can log in using biometric authentication, which is a convenient feature.

Search functions

The search functions are good.

It's easy to use and you can find the relevant options for the stocks easily. You can search for international stocks using the country code. Without that, the search only covers the US market.
We liked the rich research functions; for example, you can see third-party evaluations in many equity categories.

Placing orders

Fidelity provides many order types on the mobile trading platform.

Fidelity mobile platform order types
Market	Limit	Stop
Stop limit	Stop trailing ($	%)
Stop limit trailing ($	%)

There are also order time limits you can use:

Good 'til canceled (GTC)
Day
Fill or Kill
Immediate or Cancel
On the open

Alerts and notifications

You can set alerts and notifications on the Fidelity mobile platform.

You can allow push notifications as well.

Our analysts personally tested Fidelity's mobile trading platform; read the Fidelity mobile app review for a detailed verdict on its performance and features.

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Desktop platform

Score: 4.3/5

Fidelity's desktop platform is highly customizable, offers many order types and has a clear fee report.

Pros

Cons

Clear fee report
Good customizability (for charts, workspace)
Good variety of order types

Not as quick to load as competing platforms

Fidelity offers an in-house developed desktop trading platform called Active Trader Pro. This platform is mainly for active traders and experienced investors. It acts as an extension of the web platform and integrates a lot of research functions with great flexibility.
Similarly to the web and mobile trading platforms, the desktop trading platform is available only in English.

Look and feel

Fidelity's desktop trading platform is highly customizable.
On the negative side, the platform loads slowly in cases when a new window is opened or when it is cross-linked to the web-based platform.

Login and security

Fidelity provides a two-step login.

You can set up Symantec’s Validation and ID Protection (VIP) Access app with the desktop platform as well.

Search functions

The search functions are good.

Fidelity Active Trader Pro has a great search function. You can search for an asset by typing its name or ticker, and will get relevant results.

Placing orders

Fidelity provides a wide range of order types on the desktop trading platform.

Fidelity desktop platform order types
Market	Limit	Stop-loss	Stop-limit
Trailing stop	Trailing stop-limit	Multi-contingent	One Cancels the Other (OCO)
One Triggers the Other (OTO)	One Triggers a One Cancels the Other (OTOCO)

There are also order time limits you can use on the desktop platform:

Good 'til canceled (GTC)
Day
Custom

Alerts and notifications

You can set alerts and notifications on the desktop trading platform.

The alerts are synced with the web platform. Furthermore, you can use 'Real-time Analytics,' which analyzes the historical data of your watchlist and indicates if potential trading opportunities occur.

Portfolio and fee reports

Fidelity has clear fee reports.

You can easily customize the tab and add data on commission, profit/loss balance, currency, etc. The reports can be found in the 'Account\History' menu.

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Read more about Desktop platform Read more

Product selection

Score: 3.1/5

Fidelity offers a lot of different trading products, from stocks to options, including international stocks. However, forex and futures trading is not available.

Fidelity asset classes
	Fidelity Fidelity	ETRADE ETRADE	Charles Schwab Charles Schwab
Stocks Stocks are available	Yes	Yes	Yes
ETFs ETFs are available	Yes	Yes	Yes
Forex Forex is available	No	No	Yes
Funds Funds are available	Yes	Yes	Yes
Bonds Bonds are available	Yes	Yes	Yes
Options Options are available	Yes	Yes	Yes
Futures Futures are available	No	Yes	Yes
CFDs Any CFD is available, e.g. stock CFD or commodity CFD	No	No	No
Crypto Crypto is available in any form (e.g. as a CFD or ETF)	Yes ETF	Yes Futures	Yes Futures, ETFs, Coin Trusts,

Fidelity's product selection is great compared to its closest competitors. Both E*TRADE and Charles Schwab offer fewer stock markets to trade on.

Stocks and ETFs

Fidelity covers the US markets and many international stock exchanges.

Fidelity stock and ETF selection
Broker	Stock markets (#)
Fidelity	25
E*TRADE	5
Charles Schwab	4

You can trade stocks on the following US stock exchanges: NYSE, NASDAQ, AMEX, OTC. Fidelity has a very wide range of foreign markets as well. Trades can be settled in local currency or in USD.

Fidelity international stock markets
Europe	North America	Asia, Pacific, Africa
Austria	Greece	Portugal	US	Australia
Belgium	Ireland	Spain	Canada	Hong Kong
Denmark	Italy	Sweden	Mexico	Japan
Finland	Netherlands	Switzerland		New Zealand
France	Norway	UK		Singapore
Germany	Poland			South Africa

Funds

Fidelity has a good selection of mutual funds. You will find Fidelity funds, as well as funds from other large providers like BlackRock and Vanguard.

Fidelity mutual fund selection
Broker	Fund providers (#)
Fidelity	550
E*TRADE	600
Charles Schwab	600

This selection falls behind competing brokers. Both E*TRADE and Charles Schwab make more fund providers available.

Bonds

Fidelity offers an extensive range of bonds. The bond selection includes both government and corporate bonds.

Fidelity bond selection
Broker	Bonds (#)
Fidelity	209,000
E*TRADE	88,000
Charles Schwab	60,000

This selection is great compared to competing brokers. Both E*TRADE and Charles Schwab list fewer bonds.

Options

Fidelity's options selection is average.

Fidelity options selection
Broker	Options exchanges (#)
Fidelity	8
E*TRADE	5
Charles Schwab	8

This selection is average compared to competing brokers.

You will find options from major US options exchanges, like CBOE.

Interest earned on uninvested cash

Fidelity does not require a minimum amount of cash to be held in your account to pay interest. The broker will move your uninvested cash into an interest bearing account at one or more program banks to earn interest. Your cash will be protectd by FDIC insurance.

As of the time of the review, Fidelity provides the following interest rate on uninvested cash:

2.4% APY for USD

Fidelity Managed Accounts

Fidelity also offers a range of managed account services, which are great if you need help managing your investments.

Fidelity Managed Accounts
	Service type	Minimum to start	Annual fee
Fidelity Go	Robo-advisory service	$10	0-0.35%
Fidelity Personalized Planning and Advice	Robo-advisory service with expert consultation, either with a team or a dedicated advisor	$25,000	0.50%
Portfolio Advisory Services	Personalized solutions compiled by Fidelity experts	$50,000 to work with a team of advisors $250,000 for a dedicated advisor	1.10% with a team of advisors 0.50-1.50% with a dedicated advisor
Separately Managed Accounts	Preset portfolios you can invest in, e.g. Fidelity U.S. Large Cap Equity Strategy	$100,000-$350,000	0.20-0.90%

Read more about Product selection Read more

Gergely Korpos

Co-Founder, CPO | Equities • Community Trading • Financial Markets

“Fidelity is something of a household name when it comes to investing in the US, and for good reason. It could be a great broker for someone to start equity investing, but it’s also a great platform for advanced trading strategies, as it provides plenty of tools and data for research; along with a broad variety of assets to trade including options and non-US stocks.”

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Fidelity Review 2024

Why choose Fidelity

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Fees

Commission-free stock and ETFs

High margin rates

Low options commission

No inactivity fee, no withdrawal fee

Other commissions and fees

Safety

Is Fidelity regulated?

Is Fidelity safe?

How you are protected

Background

Deposit and withdrawal

Account base currencies

Deposit fees and options

Fidelity withdrawal fees and options

Account opening

Can you open an account?

What is the minimum deposit at Fidelity?

Account types

How to open your account

Mobile app

Look and feel

Login and security

Search functions

Placing orders

Alerts and notifications

Desktop platform

Look and feel

Login and security

Search functions

Placing orders

Alerts and notifications

Portfolio and fee reports

Product selection

Stocks and ETFs

Funds

Bonds

Options

Interest earned on uninvested cash

Fidelity Managed Accounts

FAQ

Lower fees, lower costs?

What about the minimum deposit?

How to start your Fidelity account?

How's their trading app?

Is the quality of customer service satisfactory?

Legit or scam?

Free or premium? Or both?

Is this broker good for beginners?

Should you buy your silver bullets on Fidelity?

I want to trade options, are they available at Fidelity?

What is the minimum account balance at Fidelity?

Looking for commission and fees data for Fidelity?

How do you withdraw money from Fidelity?