Fidelity Review 2024: Pros & Cons (2024)

StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn how we make money.

HomeOnline Broker Reviews

Fidelity Review 2024: Pros & Cons (1)

Written by Sam Levine, CFA, CMT
Edited by Carolyn Kimball
Fact-checked by Steven Hatzakis
Reviewed by Blain Reinkensmeyer

April 30, 2024

Fidelity is strong across all the categories we cover, but where it really shines brightest is in its astounding array of research and market commentary. Call it Stockpicker Paradise.

Pros & Cons

thumb_up_off_alt Pros

  • Fidelity took top honors in 2024 for Best Overall, Commissions and Fees, Education, Penny Stock Trading, and Customer Service. It also won an Industry Award for its innovative Fidelity Youth mobile trading app.
  • It placed third in investment choices, with key strengths in fixed income, international market access, fractional shares, and advisor services.
  • It also ranked third in platforms and tools. I found its Chart+ charting package to be convenient for building detailed charts, thanks to its superior organization of studies and indicators.
  • Fixed-income investors will appreciate research on individual bond issuers and a stream of market commentary and analysis.
  • Privately owned Fidelity leans toward conservatism in its products and services. That has helped it avoid many of Wall Street’s scandals and excesses.
  • Fidelity has a good ground game, too, with a branch network of 200 Investor Centers in the United States.

thumb_down_off_alt Cons

  • Though Fidelity largely avoids nuisance fees such as charges for transferring an account out, its margin rates and options fees are higher than brokers that cater to active traders.
  • Its desktop trading platform, Fidelity Active Trader Pro, could use an overhaul. My testing found it responds slowly to inputs, and it has a dated feel.
  • Unlike Schwab’s thinkorswim mobile and E*TRADE’s Power E*TRADE, Fidelity doesn’t offer an alternative mobile app designed for active trading.
  • Fidelity doesn’t offer futures trading or options on futures.
  • There’s no paper trading, which would be a welcome feature for beginnersand would be especially valuable in its Youth app.

Overall summary

FeatureFidelity Review 2024: Pros & Cons (2)
OverallFidelity Review 2024: Pros & Cons (3)
Investment OptionsFidelity Review 2024: Pros & Cons (4)
Commissions & FeesFidelity Review 2024: Pros & Cons (5)
Mobile Trading AppsFidelity Review 2024: Pros & Cons (6)
Platforms & ToolsFidelity Review 2024: Pros & Cons (7)
ResearchFidelity Review 2024: Pros & Cons (8)
Customer ServiceFidelity Review 2024: Pros & Cons (9)
EducationFidelity Review 2024: Pros & Cons (10)
Ease Of UseFidelity Review 2024: Pros & Cons (11)

--> View Fidelity Features List

feed Recent news

January 2024: Crypto ETFs. Fidelity now allows trading of spot bitcoin ETFs in brokerage accounts.

Investment options

From stock trading to retirement guidance, Fidelity easily accommodates most investors’ needs, unless you like trading exotic investments such as futures or maybe Pokemon Charizard cards. Fidelity’s crypto offering is a bit thin on coin choices and a bit pricey in markups and markdowns.

Cryptocurrency: Clients in 38 states can trade bitcoin and ethereum through a Fidelity Crypto account. Though crypto trading is promoted as commission-free, it’s not free. There’s an up to 1% markup or markdown embedded in the execution. A few other brokers offer more coins and charge less.

Fractional shares: Fractional shares trading enables investors to buy a fraction of a share instead of a whole share. For example, for a stock trading at $500 per share, investors can buy 1/10th a share for $50. In 2024, Fidelity remains one of our favorite brokers for fractional shares trading thanks to its meticulously designed order ticket and dedication to giving customers the lowest-cost executions.

Other investments: While futures and forex trading aren’t offered, international trading is, which lets customers trade in 25 countries and exchange between 20 currencies. In the international trading department, only Interactive Brokers, which is a favorite for many pros, offers more global access.

Retirement services: Fidelity offers traditional, Roth and rollover IRAs alongside excellent education and tools for retirement planning, and the broker charges no miscellaneous fees for IRA accounts.

query_stats Retirement planning at Fidelity

If retirement planning is top of mind for you, zero in on Fidelity’s individual retirement accounts and tools at investor.com: Fidelity IRA Review.

FeatureFidelity Review 2024: Pros & Cons (12)
Stock TradinginfoYes
Margin TradingYes
Fractional SharesinfoYes
OTC StocksinfoYes
Options TradinginfoYes
Complex Options Max Legsinfo4
Bonds (US Treasury)infoYes
Futures TradinginfoNo
Forex TradinginfoNo
Mutual Funds (Total)info10000
Crypto TradinginfoYes
Crypto Trading - Total Coinsinfo2
Traditional IRAsinfoYes
Roth IRAsinfoYes
Advisor ServicesinfoYes

View More

account_balance One of the best for high net worth

We analyzed online brokers' offerings for clients with over $1 million of liquid, investable assets. See our guide to the Best Brokerage Firms for High Net Worth Individuals.

Commissions and fees

After factoring in order execution, where Fidelity is one of the best, Fidelity’s $0 stock and ETF trades consistently yield additional value for customers, and it skips some charges many other brokers routinely drop on their customers. It's among the best brokers for commission free stock trading.

Penny stocks: Unlike many brokers, Fidelity charges no additional fees for trading penny stocks.

No payment for order flow: Rare in the industry, Fidelity does not accept payment for order flow, or PFOF, and indicates the amount of price improvement received on eligible orders.

Zero expense ratio mutual funds: Fidelity distinguishes its offering with several zero expense ratio mutual funds, helping investors save on costs, even compared to funds available from traditionally lowest cost provider Vanguard. For example, FNILX, FZIPX, FZROX, and FZILX come with no minimum deposit and a zero expense ratio. Transaction fee mutual funds cost $49.95 to purchase, nothing on redemption.

Incidental fees: All brokers have incidental fees. Unlike many other firms, Fidelity doesn’t charge for transfers out. Most of the other unusual fees are either lower than average or in line with the industry. If you expect to rack up incidental fees, use our broker comparison tool to find the best broker for you.

FeatureFidelity Review 2024: Pros & Cons (13)
Minimum Deposit$0.00
Stock Trades$0.00
Penny Stock Fees (OTC)info$0.00
ETF Trade Fee$0.00
Options (Base Fee)$0.00
Options (Per Contract)$0.65
Options Exercise Fee$0.00
Options Assignment Fee$0.00
Futures (Per Contract)(Not offered)
Mutual Fund Trade FeeVaries info
Broker Assisted Trade Fee$32.95

View More

Mobile trading apps

Fidelity offers two mobile applications for traditional customers. Both accept the same Fidelity username and password, so you can choose and use them as you see fit. One is the “flagship” Fidelity experience; the other, Bloom, caters to personal finance novices.

One promising addition this year is the Fidelity Youth App, which offers a curated and parent-friendly savings, spending and investing experience. Parents should be very excited about this financial education opportunity, but should also remember that teens will always be teens. A member of our editorial team invited her teen to trial the app, and her teen’s question was, “Can I withdraw it to my Venmo?” which, of course, would defeat the purpose of the app.

Fidelity Investments app: Fidelity’s flagship mobile experience is cleanly designed, bug-free, and efficient to use. Buying and selling shares is a cinch, and if you want to read up before you pull the trigger, there’s plenty of worthwhile content to dive into whenever you have a spare moment. While Fidelity gets a big thumbs-up for its user-friendly flagship mobile app, it omits some features that casual and active traders will miss, such as ladder trading. Those looking for a dedicated trading app might want to check out Charles Schwab’s thinkorswim, tastytrade, and E*TRADE’s Power E*TRADE.

Ease of use: Navigation is simple, and finding what you’re looking for is easy, thanks to excellent design and readily understood icons.

Customizable dashboard: Upon logging in, a customizable dashboard experience greets you. The customization is nice, but chances are you won’t need to tweak too much. I use Fidelity on a regular basis for my personal investing and I’m happy enough with the layout that I don’t feel any need to change anything.

Charting: Having visited Fidelity’s historic and extensive Chart Room in Boston, color me unsurprised that the mobile app has some powerful charting. There are over a hundred technical indicators and 12 different chart types, which is more than enough for most. Dividends, earnings, and splits may also be plotted, which is incredibly valuable for those like me who use both charts and fundamentals in making investment decisions.

Other unique features: Research is robust and exactly what one would expect to find after using the website. Among many other highlights of the mobile app is the note-taking functionality, which allows you to log personal thoughts on individual stocks and the broader markets. There’s also live streaming TV from Bloomberg within the mobile app.

Fidelity Bloom: Bloom won our Best New Tool award last year. It’s a saving and spending app that uses behavioral finance principles, brief challenges, and positive reinforcement to tackle emotional issues and mental roadblocks that prevent people from achieving financial goals. Fidelity borrows from the field of heuristics, which are mental “shortcuts” people take in making complex decisions. It’s a unique approach that I think can help many people, especially those just starting to save for the future. I’d like it even more if it incorporated investing into its saving feature.

Fidelity Mobile app gallery

Fidelity Review 2024: Pros & Cons (14)Fidelity Review 2024: Pros & Cons (15)Fidelity Review 2024: Pros & Cons (16)Fidelity Review 2024: Pros & Cons (17)Fidelity Review 2024: Pros & Cons (18)Fidelity Review 2024: Pros & Cons (19)Fidelity Review 2024: Pros & Cons (20)Fidelity Review 2024: Pros & Cons (21)Fidelity Review 2024: Pros & Cons (22)Fidelity Review 2024: Pros & Cons (23)Fidelity Review 2024: Pros & Cons (24)Fidelity Review 2024: Pros & Cons (25)Fidelity Review 2024: Pros & Cons (26)Fidelity Review 2024: Pros & Cons (27)Fidelity Review 2024: Pros & Cons (28)Fidelity Review 2024: Pros & Cons (29)Fidelity Review 2024: Pros & Cons (30)Fidelity Review 2024: Pros & Cons (31)Fidelity Review 2024: Pros & Cons (32)

FeatureFidelity Review 2024: Pros & Cons (33)
iPhone AppinfoYes
Android AppinfoYes
Apple Watch AppinfoYes
Stock AlertsinfoYes
Charting - After-HoursinfoYes
Charting - Technical Studiesinfo129
Charting - Study CustomizationsinfoYes
Watch List (Streaming)infoYes
Watch Lists - Create & ManageinfoYes
Watch Lists - Column CustomizationinfoYes

Other trading platforms and tools

Traders will inevitably be curious about Active Trader Pro, Fidelity’s desktop trading platform, which has a decent array of trading tools. Keeping it real, the platform could use an extensive refresh. Most investors can skip ATP and will be very pleased with the browser experience.

Active Trader Pro: If you want to fire off trades quickly at Fidelity, Active Trader Pro has a more trader-friendly workflow than the website, but it also leaves a lot to be desired.

My primary gripes with ATP are its choppy feel and stale design. Some elements are slow to load, and a few widgets are simply windows pointing to web pages. Often the platform didn’t keep up with my mouse movements. That might be due to its Java base; other platforms that use HTML5 are quicker.

On the positive side, Active Trader Pro includes several unique, home-brewed tools, including Real-Time Analytics (streaming trade signals) and Trade Armor (real-time position analysis). Options traders have a variety of analyses open to them.

Website watch lists: Fidelity’s website watch list is one of my favorites among all the brokers I test. Streaming quotes are included, and there are 62 columns of data to choose from. Furthermore, the workflow is seamless, making it a breeze to transition to researching the stock further or placing a trade in the docked order ticket.

Web charting: The browser Chart+ view is one of the most functional browser-based charting experiences among all the brokers I tested this year. Much of that’s due to the exceptionally well-implemented automated technical pattern recognition and chart analyses from Trading Central. Charts are crisp and cleanly laid out and include over 30 different drawing tools, more than 100 studies, custom user profiles, alerts, notes, and more.

Fidelity Review 2024: Pros & Cons (34)Fidelity Review 2024: Pros & Cons (35)Fidelity Review 2024: Pros & Cons (36)Fidelity Review 2024: Pros & Cons (37)Fidelity Review 2024: Pros & Cons (38)Fidelity Review 2024: Pros & Cons (39)Fidelity Review 2024: Pros & Cons (40)Fidelity Review 2024: Pros & Cons (41)Fidelity Review 2024: Pros & Cons (42)Fidelity Review 2024: Pros & Cons (43)Fidelity Review 2024: Pros & Cons (44)Fidelity Review 2024: Pros & Cons (45)Fidelity Review 2024: Pros & Cons (46)Fidelity Review 2024: Pros & Cons (47)Fidelity Review 2024: Pros & Cons (48)

FeatureFidelity Review 2024: Pros & Cons (49)
Active Trading PlatforminfoActive Trader Pro
Desktop Trading PlatforminfoYes
Desktop Platform (Mac)infoYes
Web Trading PlatforminfoYes
Paper TradinginfoNo
Trade JournalinfoYes
Watch Lists - Total Fieldsinfo92
Charting - Indicators / Studiesinfo129
Charting - Drawing Toolsinfo38
Charting - Study Customizationsinfo5
Charting - Save ProfilesinfoYes
Trade Ideas - Technical AnalysisinfoYes
Streaming Time & SalesinfoYes
Trade Ideas - BacktestinginfoYes

View More

Research

Fidelity’s actively managed mutual funds have their roots in deep research (read “One Up on Wall Street” by Fidelity superstar manager Peter Lynch if there’s any doubt). That legacy continues in the suite of available research. Fidelity’s is a veritable Garden of Readin’ for thoughtful investors.

Stock research: When I pulled up research on Apple shares, Fidelity offered 12 reports to choose from. That might sound like overkill, but it also allows you to find a research source that best fits your investing style. My favorite, for what it’s worth, is Zacks. Though Fidelity provides more than enough third-party research for most investors, I also like the deeper dives available from the proprietary research teams at Merrill, E*TRADE, and J.P. Morgan.

Fund research: If you’re more of a fund buyer than a stock picker, you’ll be pleased with fund research coverage. I found PDF reports from Morningstar and FactSet for the SPDR S&P 500 (SPY) ETF. Open end mutual fund data is sourced from Morningstar.

Market news and research: Fidelity provides rich market commentary, like other top-tier brokers, but it’s exceptionally good at curating third-party news and thought pieces. Where some brokers provide simple news feeds, Fidelity scours and presents the best of the web and it consistently chooses well, shortening the time needed to stay current on market events.

Screening for trade ideas: Fidelity’s stock, ETF, and mutual fund screeners are easy to use, rich in data, and set the benchmark for the industry. Thematic investing, ESG (environmental, social and governance) data, Morningstar ratings — the list of features is extensive.

Fidelity Review 2024: Pros & Cons (50)Fidelity Review 2024: Pros & Cons (51)Fidelity Review 2024: Pros & Cons (52)Fidelity Review 2024: Pros & Cons (53)Fidelity Review 2024: Pros & Cons (54)Fidelity Review 2024: Pros & Cons (55)Fidelity Review 2024: Pros & Cons (56)Fidelity Review 2024: Pros & Cons (57)Fidelity Review 2024: Pros & Cons (58)Fidelity Review 2024: Pros & Cons (59)Fidelity Review 2024: Pros & Cons (60)

FeatureFidelity Review 2024: Pros & Cons (61)
Research - StocksinfoYes
Stock Research - ESGinfoYes
Stock Research - PDF Reportsinfo11
Screener - StocksinfoYes
Research - ETFsinfoYes
Screener - ETFsinfoYes
Research - Mutual FundsinfoYes
Screener - Mutual FundsinfoYes
Research - Pink Sheets / OTCBBinfoYes
Research - BondsinfoYes

Education

There’s something for everyone in Fidelity’s educational offerings. Fidelity does a great job of organizing content into roadmaps with progress tracking, as well as sorting by experience level, category and content type. Articles, videos, webinars, infographics, courses, and even podcasts are made available to customers.

Learning center: Fidelity’s Learning Center collects educational content in one spot, including archived webinars, classes for beginners, and a large variety of well-stocked categories. There’s even an AI-driven recommendation engine to suggest educational content. Fidelity’s YouTube channel provides a library of archived videos organized by playlist with related educational content published throughout the week. The Youth App has its own learning center that offers investing tips, articles, videos, and a couple of calculators for parents as well as teens.

Retirement education: Fidelity stands out with its retirement education. There’s a comprehensive financial planning tool that can pull information from outside accounts, allowing you to track your progress toward retirement and other spending goals. It won’t take the place of a certified financial planner, but it could be helpful for tracking your financial progress and identifying habits that might be holding you back. Before committing to use it, take a moment to decide whether you’re comfortable providing that much access to your personal financial data.

If you want to skip doing any deep-dive financial planning, there are plenty of in-house calculators to provide you with a proper diagnosis of your financial position. To show the depth of their tools, aside from the usual “How much money will you have to retire?” worksheets, Fidelity has a “Substantially Equal Periodic Payments/72(t) Calculator” that can help you find out the most tax-efficient IRA withdrawal amounts if you are below 59½ years old.

Fidelity Review 2024: Pros & Cons (62)Fidelity Review 2024: Pros & Cons (63)Fidelity Review 2024: Pros & Cons (64)Fidelity Review 2024: Pros & Cons (65)Fidelity Review 2024: Pros & Cons (66)Fidelity Review 2024: Pros & Cons (67)Fidelity Review 2024: Pros & Cons (68)Fidelity Review 2024: Pros & Cons (69)

FeatureFidelity Review 2024: Pros & Cons (70)
Education (Stocks)infoYes
Education (ETFs)infoYes
Education (Options)infoYes
Education (Mutual Funds)infoYes
Education (Bonds)infoYes
Education (Retirement)infoYes
Paper TradinginfoNo
VideosinfoYes
WebinarsinfoYes
Webinars (Archived)infoYes
Progress TrackinginfoYes
Interactive Learning - QuizzesinfoYes

View More

Customer service

To score Customer Service, StockBrokers.com partners with customer experience research firm Confero to conduct phone tests from locations throughout the United States. For this year's testing, 135 customer service tests were conducted over six weeks, with wait times logged for each call.

Customer service representatives were asked for assistance or details in several areas of broker services for prospective customers, including account opening, trading tools, apps, rollovers, active trading, and more. Here are the results for Fidelity.

  • Average Connection Time: <1 minute
  • Average Net Promoter Score: 9.4 / 10
  • Average Professionalism Score: 9.2 / 10
  • Overall Score: 9.31 / 10
  • Ranking: 1st of 13 brokers

Banking services

While Fidelity is not itself a chartered bank, it does offer banking-related services and delivers a reliable experience that includes access to more than 200 retail service centers. A cash management account is available and includes bill pay and a debit card. The Fidelity Rewards Visa Signature credit card offers 2% cashback on all purchases. Fidelity Bloom, a program tailored to personal finance novices, also provides rewards. Fidelity offers no loyalty rewards for using multiple products, an area in which Bank of America - Merrill Edge is unsurpassed. Given Fidelity’s thrifty approach, this isn’t surprising.

» Are you looking for the best credit card? Our sister site, Investor.com, has credit card reviews that are both thorough and hilarious.

FeatureFidelity Review 2024: Pros & Cons (71)
Bank (Member FDIC)infoNo
Checking AccountsinfoNo
Savings AccountsinfoNo
Credit CardsinfoYes
Debit CardsinfoYes
Mortgage LoansinfoNo

Final thoughts

The Green Machine continues to dominate our broker rankings on the strength of its breadth of services, ease of use, low costs and compelling educational content. While some other brokers might do a better job for short-term traders and professional investors, everyday investors will find Fidelity to be an excellent choice.

Here are our top takeaways for Fidelity:

  1. Fidelity delivers value across its entire client experience. The Fidelity website and mobile app both breezed through our rigorous usability assessments. Furthermore, thanks to a plethora of educational resources, Fidelity is a winner for beginners.
  2. Fidelity shines for research, whether you're viewing stock, ETF, and mutual fund quotes or running through a screener to find investment ideas.
  3. Though the Active Trader Pro desktop platform is usable for day trading and options trading, it’s in serious need of a refresh.

Read next

  • Best Paper Trading Platforms of May 2024
  • Best Stock Brokers for May 2024
  • Best Futures Trading Platforms of May 2024
  • Best Brokers for Penny Stock Trading of May 2024
  • Best Day Trading Platforms of May 2024
  • Best Stock Trading Platforms for Beginners of May 2024
  • Best Stock Trading Apps of 2024

More Guides

Best Brokers for Free Stock Trading of May 2024 Best Forex Brokers in the UK for May 2024 Best Brokers for Penny Stock Trading of May 2024 Best US Forex Brokers of May 2024 Best Brokerage Firms for High Net Worth Individuals of May 2024 Best Paper Trading Platforms of May 2024 Best Stock Brokers for May 2024 Best International Brokers for Stock Trading in May 2024 Best Online Brokerages in Canada May 2024 Best IRA Accounts of May 2024 Best Crypto Trading Platforms of May 2024 Best Brokers for Order Execution of May 2024 Best Bank Brokerages of May 2024 Best Share Trading Platforms in Australia for May 2024 Best Futures Trading Platforms of May 2024 Best Day Trading Platforms of May 2024 Best Stock Trading Platforms for Beginners of May 2024

Popular Stock Broker Reviews

Public.com Review Interactive Brokers Review Firstrade Review E*TRADE Review TradeStation Review Vanguard Review J.P. Morgan Self-Directed Investing Review Tradier Review Ally Invest Review Charles Schwab Review SoFi Invest Review Merrill Edge Review eToro Review Webull Review Robinhood Review Tastytrade Review

Is Fidelity a safe company to invest with?

Yes, Fidelity is one of the safest brokerages to invest with. It’s an industry leader with a stellar reputation and fully regulated in the U.S. with the SEC and FINRA, is trusted by over 43 million people and holds over $11.5 trillion in assets under administration.

Money held in an investment account with Fidelity is protected by SIPC insurance, which covers up to $500,000 in securities ($250,000 cash maximum) per customer. Funds held in Fidelity’s cash management account are swept to partner banks and protected by FDIC insurance.

Finally, Fidelity provides additional coverage in excess of SIPC limits through Lloyd’s of London for up to $1 billion across all customer accounts, and with up to $1.9 million per customer for cash.

Is Fidelity FDIC insured?

U.S. brokers, including Fidelity, are not covered by the FDIC. Instead, accounts are protected by the Securities Investors Protection Corporation (SIPC) and additional coverage through Lloyd’s of London. Fidelity does offer a cash sweep program that will park your available cash in up to 20 FDIC-insured banks, allowing you to obtain FDIC coverage far in excess of the typical $250,000 limit.

Is Fidelity good for beginners?

Yes, Fidelity is an excellent platform for beginners, thanks to a solid combination of educational content and easily navigated mobile apps and web pages. Fidelity also offers fractional share stock and trading, but it doesn’t let you practice trading with a virtual portfolio.

How much money do you need to open a Fidelity account?

There is no minimum to open a Fidelity brokerage account or monthly service charges for an open account, but, as at most brokers, some investments do have minimum initial purchases.

Does Fidelity have hidden fees?

Like all brokers, Fidelity has incidental fees. You can find them listed here. Though Fidelity is usually very clear in its pricing, there is one exception: It markets its bitcoin and ethereum trading as “commission free,” but footnotes disclose an up to 1% markup or markdown.

What is the downside to Fidelity?

Fidelity has been a perennial outperformer in our brokerage testing over the years and has a strong reputation within the industry. Like all brokers, Fidelity has particular strengths and weaknesses. Fidelity is particularly strong in stock and market research, but some other brokers offer more robust active trading platforms with cutting-edge features and very advantageous pricing.

What does Active Trader Pro do?

Fidelity Active Trader Pro is a downloadable trading platform from Fidelity designed for active traders. Like any decent trading platform, it’s filled with customizable widgets and charts. Most investors don’t require the complex tools in Active Trader Pro and the platform feels a bit dated compared to some of its competitors.

Does Fidelity Active Trader Pro cost anything?

Use of Active Trader Pro, Fidelity’s downloadable trading platform, doesn’t cost anything. The tool-laden platform is free to Fidelity brokerage customers, and Fidelity doesn’t have account minimums or inactivity fees.

About Fidelity

Headquartered in Boston, Massachusetts, Fidelity was founded in 1946 and is one of the largest asset managers in the world (1). As of October 2023, Fidelity serves over 43 million individual customers and holds over $11.5 trillion in total customer assets under administration (2).

Fidelity 2024 Results

For the StockBrokers.com 2024 Annual Awards, announced on Jan. 23, 2024, all U.S. equity brokers we reviewed were assessed on over 200 different variables across eight areas: Commissions & Fees, Investment Options, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall.

StockBrokers.com also presented “Best in Class” awards to brokers for additional categories Beginners, Options Trading, Futures Trading, Day Trading, IRA Accounts, Investor Community, Penny Stock Trading, Bank Brokerage, High Net Worth Investors, and Customer Service. A “Best in Class” designation means finishing in the top five brokers for that category.

For more information, see how we test.

Category awards

Fidelity Review 2024: Pros & Cons (72)OverallCommissions & FeesResearchPlatforms & ToolsMobile Trading AppsInvestment OptionsEducationEase of UseDay TradingBeginnersCustomer ServiceIRA AccountsPenny Stock TradingHigh Net Worth Investors
Rank #1checkcheckcheckcheckcheckcheckcheck
Streak #13431122
Best in Classcheckcheckcheckcheckcheckcheckcheckcheckcheckcheckcheckcheckcheckcheck
Best in Class Streak1261111211189103521

Industry awards

Fidelity Review 2024: Pros & Cons (73)#1 Innovation#1 Phone Support
Rank #1checkcheck
Streak31

Compare Fidelity Competitors

Select one or more of these brokers to compare against Fidelity.

Show all unfold_more


StockBrokers.com Review Methodology

Our mission at StockBrokers.com is simple: provide thorough and unbiased reviews of online brokers, based on an extraordinary level of hands-on testing and data collection. Our ratings and awards are based on this data and our in-house experts’ deep authority in the field; brokers cannot pay for preferential treatment. Here’s more about trustworthiness at StockBrokers.com.

Our research team conducts thorough testing on a wide range of features, products, services, and tools for U.S. investors, collecting and validating thousands of data points in the process; this makes StockBrokers.com home to the largest independent database on the web covering the online broker industry. We test all available trading platforms for each broker and evaluate them based on a host of data-driven variables. All research, writing and data collection at StockBrokers.com is done by humans, for humans. Read our generative AI policy here.

As part of our process, all brokers had the annual opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Brokers also were offered the opportunity to provide executive time for an annual update meeting.

Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.

Fidelity fees and features data

The data collection efforts at StockBrokers.com are unmatched in the industry. The following tables show a deeper dive into the offerings available at this broker. You can also compare its offerings side-by-side with those of other brokers using our Comparison Tool.

In addition to meticulous annual data collection by our in-house analyst, every broker that participates in our review is afforded the opportunity to complete an in-depth data profile. We then audit each data point to ensure its accuracy.

Trading fees

FeatureFidelity Review 2024: Pros & Cons (78)
Minimum Deposit$0.00
Stock Trades$0.00
Mutual Fund Trade FeeVaries info
Options (Base Fee)$0.00
Options (Per Contract)$0.65
Futures (Per Contract)(Not offered)
Broker Assisted Trade Fee$32.95

Account fees

FeatureFidelity Review 2024: Pros & Cons (79)
IRA Annual Fee$0.00
IRA Closure Fee$0.00
Account Transfer Out (Partial)info$0.00
Account Transfer Out (Full)info$0.00
Options Exercise Fee$0.00
Options Assignment Fee$0.00

Margin rates

FeatureFidelity Review 2024: Pros & Cons (80)
Margin Rate Under $25,00013.575%
Margin Rate $25,000 to $49,999.9913.075%
Margin Rate $50,000 to $99,999.9912.125%
Margin Rate $100,000 to $249,999.9912.075%
Margin Rate $250,000 to $499,999.9911.825%
Margin Rate $500,000 to $999,999.999.5%
Margin Rate Above $1,000,0009.25%

Investment options

FeatureFidelity Review 2024: Pros & Cons (81)
Stock TradinginfoYes
Margin TradingYes
Fractional SharesinfoYes
OTC StocksinfoYes
Options TradinginfoYes
Complex Options Max Legsinfo4
Futures TradinginfoNo
Forex TradinginfoNo
Crypto TradinginfoYes
Crypto Trading - Total Coinsinfo2
Mutual Funds (No Load)info5843
Mutual Funds (Total)info10000
Bonds (US Treasury)infoYes
Bonds (Corporate)infoYes
Bonds (Municipal)infoYes
Advisor ServicesinfoYes
International Countries (Stocks)info25

View More

Order types

FeatureFidelity Review 2024: Pros & Cons (82)
Order Type - MarketinfoYes
Order Type - LimitinfoYes
Order Type - After HoursinfoYes
Order Type - StopinfoYes
Order Type - Trailing StopinfoYes
Order Type - OCOinfoYes
Order Type - OTOinfoYes
Order Type - Broker AssistedinfoYes

Beginners

FeatureFidelity Review 2024: Pros & Cons (83)
Education (Stocks)infoYes
Education (ETFs)infoYes
Education (Options)infoYes
Education (Mutual Funds)infoYes
Education (Bonds)infoYes
Education (Retirement)infoYes
Retirement CalculatorinfoYes
Investor DictionaryinfoYes
Paper TradinginfoNo
VideosinfoYes
WebinarsinfoYes
Webinars (Archived)infoYes
Progress TrackinginfoYes
Interactive Learning - QuizzesinfoYes

View More

Stock trading apps

FeatureFidelity Review 2024: Pros & Cons (84)
iPhone AppinfoYes
Android AppinfoYes
Apple Watch AppinfoYes
Trading - StocksinfoYes
Trading - After-HoursinfoYes
Trading - Simple OptionsinfoYes
Trading - Complex OptionsinfoYes
Order Ticket RT QuotesinfoYes
Order Ticket SRT QuotesinfoYes

Stock app features

FeatureFidelity Review 2024: Pros & Cons (85)
Market Movers (Top Gainers)infoYes
Stream Live TVinfoYes
Videos on DemandinfoYes
Stock AlertsinfoYes
Option Chains ViewableinfoYes
Watch List (Real-time)infoYes
Watch List (Streaming)infoYes
Watch Lists - Create & ManageinfoYes
Watch Lists - Column CustomizationinfoYes
Watch Lists - Total Fieldsinfo92

Stock app charting

FeatureFidelity Review 2024: Pros & Cons (86)
Charting - After-HoursinfoYes
Charting - Can Turn HorizontallyinfoYes
Charting - Multiple Time FramesinfoYes
Charting - Technical Studiesinfo129
Charting - Study CustomizationsinfoYes
Charting - Stock ComparisonsinfoYes

Trading platforms overview

FeatureFidelity Review 2024: Pros & Cons (87)
Active Trading PlatforminfoActive Trader Pro
Desktop Trading PlatforminfoYes
Desktop Platform (Mac)infoYes
Web Trading PlatforminfoYes
Paper TradinginfoNo
Trade JournalinfoYes
Watch Lists - Total Fieldsinfo92

Trading platform stock chart features

FeatureFidelity Review 2024: Pros & Cons (88)
Charting - Adjust Trades on ChartinfoYes
Charting - Indicators / Studiesinfo129
Charting - Drawing Toolsinfo38
Charting - NotesinfoYes
Charting - Index OverlaysinfoYes
Charting - Historical TradesinfoYes
Charting - Corporate EventsinfoYes
Charting - Custom Date RangeinfoYes
Charting - Custom Time BarsinfoYes
Charting - Automated AnalysisinfoYes
Charting - Save ProfilesinfoYes
Trade Ideas - Technical AnalysisinfoYes
Charting - Study Customizationsinfo5
Charting - Custom StudiesinfoNo

View More

Day trading features

FeatureFidelity Review 2024: Pros & Cons (89)
Streaming Time & SalesinfoYes
Streaming TVinfoYes
Direct Market Routing - StocksinfoYes
Ladder TradinginfoNo
Trade Hot KeysinfoYes
Level 2 Quotes - StocksinfoYes
Trade Ideas - BacktestinginfoYes
Trade Ideas - Backtesting AdvinfoNo
Short LocatorinfoYes
Order Liquidity RebatesinfoNo

Investment research overview

FeatureFidelity Review 2024: Pros & Cons (90)
Research - StocksinfoYes
Research - ETFsinfoYes
Research - Mutual FundsinfoYes
Research - Pink Sheets / OTCBBinfoYes
Research - BondsinfoYes
Screener - StocksinfoYes
Screener - ETFsinfoYes
Screener - Mutual FundsinfoYes
Screener - BondsinfoYes
Misc - Portfolio AllocationinfoYes

Stock research features

FeatureFidelity Review 2024: Pros & Cons (91)
Stock Research - PDF Reportsinfo11
Stock Research - EarningsinfoYes
Stock Research - InsidersinfoYes
Stock Research - SocialinfoYes
Stock Research - NewsinfoYes
Stock Research - ESGinfoYes
Stock Research - SEC FilingsinfoYes

ETF research features

FeatureFidelity Review 2024: Pros & Cons (92)
ETFs - Strategy OverviewinfoYes
ETF Fund Facts - Inception DateinfoYes
ETF Fund Facts - Expense RatioinfoYes
ETF Fund Facts - Net AssetsinfoYes
ETF Fund Facts - Total HoldingsinfoYes
ETFs - Top 10 HoldingsinfoYes
ETFs - Sector ExposureinfoYes
ETFs - Risk AnalysisinfoYes
ETFs - RatingsinfoYes
ETFs - Morningstar StyleMapinfoYes
ETFs - PDF ReportsinfoYes

View More

Mutual fund research features

FeatureFidelity Review 2024: Pros & Cons (93)
Mutual Funds - Strategy OverviewinfoYes
Mutual Funds - Performance ChartinfoYes
Mutual Funds - Performance AnalysisinfoYes
Mutual Funds - ProspectusinfoYes
Mutual Funds - 3rd Party RatingsinfoYes
Mutual Funds - Fees BreakdowninfoYes
Mutual Funds - Top 10 HoldingsinfoYes
Mutual Funds - Asset AllocationinfoYes
Mutual Funds - Sector AllocationinfoYes
Mutual Funds - Country AllocationinfoYes
Mutual Funds - StyleMapinfoYes

View More

Options trading overview

FeatureFidelity Review 2024: Pros & Cons (94)
Option Chains - Basic ViewinfoYes
Option Chains - Strategy ViewinfoYes
Option Chains - StreaminginfoYes
Option Chains - Total Columnsinfo26
Option Chains - Greeksinfo5
Option Chains - Quick AnalysisinfoYes
Option Analysis - P&L ChartsinfoYes
Option Probability AnalysisinfoYes
Option Probability Analysis AdvinfoYes
Option Positions - GreeksinfoYes
Option Positions - Greeks StreaminginfoYes
Option Positions - Adv AnalysisinfoYes
Option Positions - RollinginfoYes
Option Positions - GroupinginfoYes

View More

Banking features

FeatureFidelity Review 2024: Pros & Cons (95)
Bank (Member FDIC)infoNo
Checking AccountsinfoNo
Savings AccountsinfoNo
Credit CardsinfoYes
Debit CardsinfoYes
Mortgage LoansinfoNo

Customer service options

FeatureFidelity Review 2024: Pros & Cons (96)
Phone Support (Prospect Customers)infoYes
Phone Support (Current Customers)infoYes
Email SupportinfoYes
Live Chat (Prospect Customers)infoYes
Live Chat (Current Customers)infoYes
24/7 SupportinfoYes

Compare Fidelity

See how Fidelity stacks up against other brokers.

Fidelity vs TD Ameritrade Fidelity vs Citi Self Invest Fidelity vs Ally Invest Fidelity vs Vanguard Fidelity vs J.P. Morgan Self-Directed Investing Fidelity vs tastytrade Fidelity vs Merrill Edge Fidelity vs Webull Fidelity vs Public.com Fidelity vs Interactive Brokers Fidelity vs Robinhood Fidelity vs Firstrade


Show all


About the Editorial Team

Fidelity Review 2024: Pros & Cons (97)

Sam Levine, CFA, CMT

Sam Levine has over 30 years of experience in the investing field as a portfolio manager, financial consultant, investment strategist and writer. He also taught investing as an adjunct professor of finance at Wayne State University. Sam holds the Chartered Financial Analyst and the Chartered Market Technician designations and is pursuing a master's in personal financial planning at the College for Financial Planning. Previously, he was a contributing editor at BetterInvesting Magazine and a contributor to The Penny Hoarder and other media outlets.

Fidelity Review 2024: Pros & Cons (98)

Carolyn Kimball

Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

Fidelity Review 2024: Pros & Cons (99)

Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Fidelity Review 2024: Pros & Cons (100)

Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

1 Fidelity Sell orders are subject to an activity assessment fee from $0.01 to $0.03 per $1,000 of principal. Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.

Fidelity Review 2024: Pros & Cons (2024)

FAQs

What is the downside to Fidelity? ›

Fees. 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. We compared Fidelity's fees with two similar brokers we selected, E*TRADE and TD Ameritrade.

Is it safe to keep all your money in Fidelity? ›

All Fidelity brokerage accounts are automatically protected by the SIPC.

What happens to my investments if Fidelity goes bust? ›

The Securities Investor Protection Corporation (SIPC) is a nonprofit organization that protects stocks, bonds, and other securities in case a brokerage firm goes bankrupt and assets are missing. The SIPC will cover up to $500,000 in securities, including a $250,000 limit for cash held in a brokerage account.

How trustworthy is Fidelity? ›

Fidelity remains our top overall choice for best online broker as well as our choice as the best broker for low costs and for ETFs this year. In addition, Fidelity earned top ranks as the best broker for cash management, which are new additions to our best online broker and trading platforms awards this year.

What is the Fidelity controversy? ›

Big Four title firm Fidelity National Financial and its subsidiary mortgage subservicer Loancare are facing a class action lawsuit alleging that they were negligent with customer data and that they breached their contract, after the firm was the victim of a cyber security attack in late-November.

Is my money at risk at Fidelity? ›

Protecting your assets

With our Customer Protection Guarantee, we reimburse you for losses from unauthorized activity in your accounts. We also participate in asset protection programs such as FDIC and SIPC to help provide the best service possible.

Is Fidelity financially stable? ›

While Fidelity is privately held and doesn't release financial statements, it's widely regarded as financially solid and stable, with $8 billion of operating income in 2022.

Is Fidelity in financial trouble? ›

USA . Fidelity National's threat of distress is less than 5% at the present time. It is unlikely to undergo any financial straits in the next 24 months.

Are my stocks safe at Fidelity? ›

Because Fidelity is privately owned, it is able to make decisions based on long-term benefits — not short-term gains — for the clients it serves. Fidelity's financial stability, its compliance with industry regulations, and its insurance protection all serve to help safeguard your investments.

Is Fidelity no longer FDIC insured? ›

Fidelity is not a bank and brokerage accounts are not FDIC-insured, but uninvested cash balances are eligible for FDIC insurance. Balances above $5 million may be placed in a non-FDIC insured money market fund, which earns a different rate. See details in Learn more section below.

Should I use Fidelity or Charles Schwab? ›

Overall Appeal. Fidelity and Schwab are both excellent choices. These investment firms offer thousands of funds. There are some nuances, such as Fidelity being better for crypto traders and Schwab being more optimal for futures traders.

Is Fidelity or Vanguard better? ›

While Fidelity wins out overall, Vanguard is the best option for retirement savers. Its platform offers tools and education focused specifically on retirement planning.

What is the main disadvantage of high Fidelity? ›

Answer: The greatest disadvantage of high-fidelity prototyping is the time and cost required to create, and to make changes to. Consider focusing on a single component, such as flow, visuals, engagement, or navigation during high-fidelity prototyping.

Who is better, Vanguard or Fidelity? ›

While Fidelity wins out overall, Vanguard is the best option for retirement savers. Its platform offers tools and education focused specifically on retirement planning.

References

Top Articles
Latest Posts
Article information

Author: Greg O'Connell

Last Updated:

Views: 6288

Rating: 4.1 / 5 (42 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Greg O'Connell

Birthday: 1992-01-10

Address: Suite 517 2436 Jefferey Pass, Shanitaside, UT 27519

Phone: +2614651609714

Job: Education Developer

Hobby: Cooking, Gambling, Pottery, Shooting, Baseball, Singing, Snowboarding

Introduction: My name is Greg O'Connell, I am a delightful, colorful, talented, kind, lively, modern, tender person who loves writing and wants to share my knowledge and understanding with you.