Fidelity Review

  • Tools
  • Assets & Markets
  • Fees
  • Account Types
  • Security
  • Customer Support
  • Additional Resources
4.4/5Overall Score

Quick Summary

Fidelity Investments enshrines a commitment to rigorous security, underpinning its operations with stringent digital defenses. Its protocols encompass robust authentication, encrypted communications, and vigilant real-time alerts, fortifying client assets and data against breaches. Recognized as 2022's most trusted wealth management company, Fidelity's security measures are both proactive and reactive, offering a haven of safety in the dynamic financial landscape.

  • Ideal for both beginners and experienced traders.: Fidelity offers a wide range of tools and resources that cater to both people, who are just starting with investing, as well as seasoned investors
  • Comprehensive research tools and resources
  • $0 commission for many trades
  • A long-standing reputation with a focus on customer service
  • More advanced platform features can have a learning curve for beginners
  • Limited international trading capabilities compared to some competitors
  • No demo account for practice

Review of Services Offered by Fidelity

Dive into the heart of Fidelity’s service offerings and discover a realm where financial aspirations transform into tangible realities. From the novice investor to the seasoned financial guru, Fidelity’s spectrum of services is tailored to meet the diverse needs of its clientele. Here’s an insight into what makes Fidelity a coveted choice for millions.

A Panorama of Financial Services
  • Investment Platforms:
    • Fidelity caters to a broad clientele with its versatile investment platforms. Whether it’s mutual funds, online trading, or personal finance management, Fidelity has got it covered​​.
  • Retirement Plans:
    • Planning for a financially secure retirement is a breeze with Fidelity’s array of retirement solutions. Explore various retirement plans and take control of your financial future​​.
  • Wealth Management:
    • With a focus on wealth preservation and growth, Fidelity’s wealth management services are a beacon of financial prudence. Tailored advice helps in navigating the complex landscape of wealth accumulation and preservation​​.
Unique Offerings that Set Fidelity Apart
  • Digital Asset Services:
    • Fidelity’s belief in the long-term potential of digital assets has led to the provision of custodial solutions for institutional investors, marking its foray into the cryptocurrency domain​​.
  • The Fidelity Account®:
    • A full-featured, low-cost brokerage account designed to evolve with the investor’s needs, offering a blend of spending and saving solutions with no ATM fees and a secure digital wallet​​.
  • Robo Investing Plus Advice:
    • Embrace the future with Fidelity’s robo-advising service. It’s a harmonious blend of automated investing with personalized advice, making investment management a hassle-free endeavor​​.
  • Charitable Giving and Life Insurance Planning:
    • Fidelity extends beyond traditional financial services by offering avenues for charitable giving and life insurance planning, embodying a holistic approach to financial well-being​​.
A Mecca of Financial Learning and Insights
  • Learning Resources:
    • Fidelity’s plethora of learning resources, news, and research sections are a treasure trove of knowledge, aiding investors in making informed decisions​​.
  • Financial Planning and Advice:
    • Embark on a journey of financial discovery with personalized planning and advice, laying a robust foundation for achieving financial goals​​.

Navigating The Digital Landscape of Fidelity: A Closer Look at User Interface and Experience

Embarking on a digital journey with Fidelity opens doors to a realm where trading interfaces blend with user-centric designs to cater to the discerning trader. As a significant player in the brokerage industry, Fidelity continually strives to align its digital platforms with the evolving expectations of its users. Here’s an exploration into the user interface and experience on Fidelity’s trading platforms, unraveling the essence of what makes it tick among its vast user base.

Desktop Trading: A Blend of Tradition and Functionality

The desktop trading experience on Fidelity largely resonates with a blend of traditional design elements coupled with a robust set of trading tools. Fidelity’s desktop platform, Active Trader Pro, is a testament to this blend, offering a customizable trading experience with features like real-time market updates, direct and intelligent order routing, portfolio management tools, and advanced order types​1. Despite its functional robustness, some users find the user interface to feel a bit outdated and boxy, longing for a more modern aesthetic​​. The platform’s charting features are commendable but lack some interactive elements like a freeform crosshair cursor and a drag-and-click functionality on charts, which are often sought after by serious day traders​​.

Mobile Trading: A Balance of Simplicity and Efficiency

With the burgeoning trend of mobile trading, Fidelity’s mobile app steps into the spotlight. The app is lauded for its user-friendliness, rated as better than average when it comes to ease of use​​. The search functionality within the app is highlighted as reasonably good, ensuring users can find what they are looking for with relative ease​5​. However, the charting features on the mobile platform could use a revamp as they currently offer limited technical indicators and customization options​.

Web Trading: User-Friendly and Interactive

The web trading platform of Fidelity shines bright with its user-friendly, interactive, and intuitive interface​​. The streamlined account opening process further adds to the seamless user experience, embodying a digital trading platform that caters to the modern trader.

Navigating the Sea of Information

A recurring theme across Fidelity’s platforms is the abundance of information. Although a treasure trove of financial data and insights, users often find it challenging to navigate through this sea of information. The presentation of data across the platforms is often seen as overwhelming, requiring a fine balance between offering rich information and maintaining user-friendly navigation​.

Unveiling the Fee Structure: A Comprehensive Look into Fidelity’s Fees and Commissions

Navigating through the financial maze of stock brokering entails a discerning look into the fee structures and commissions that come along. Fidelity, a well-established player in the brokerage industry, offers a variety of fee schedules designed to cater to different trading and investing needs. Here, we delve into the fee structure at Fidelity, comparing it with industry averages to provide a nuanced understanding of its affordability.

Trading Commissions

Fidelity boasts of a competitive commission structure that stands tall with $0 commissions for online US stock, ETF, and option trades. The margin rates are among the most competitive in the industry, going as low as 9.25% for debit balances above $1,000,000​​. This zero-commission model is in alignment with industry peers like Charles Schwab and TD Ameritrade, that also offer $0 commissions for stock, ETF, and options trades​.

Unique Offerings

Fidelity sets itself apart by offering 0% expense ratio mutual funds, a feature currently unique to it among major brokers. Additionally, it offers over 3,400 no-transaction-fee (NTF) mutual funds, which significantly broadens the investment options for its clients​​.

Options Trading

When it comes to options trading, Fidelity charges a fee of $0.65 per contract, which is on par with the industry standard fee of $0.65 to $1 per contract​​.

Mutual Funds

For mutual funds, Fidelity charges $49.95 to buy, and $49.95 to sell if sold within 2 months; otherwise, the sale is free of charge. This fee is consistent with what other brokers like Charles Schwab and TD Ameritrade charge, which is around $49.95 and $49.99 respectively for mutual fund trades​​.

Account Fees

A notable aspect of Fidelity’s fee structure is the absence of various account fees. There are no annual fees for regular brokerage individual or joint taxable accounts, no account inactivity, and maintenance fees. This fee-friendly structure extends to Fidelity’s IRA offerings as well, with no setup fee, no annual fee (except for a $25 annual SIMPLE IRA fee), and no account termination fee​​.

Fee Comparison

While the fee structure at Fidelity resonates well with industry standards, it’s the additional offerings like the 0% expense ratio mutual funds and the extensive list of no-transaction-fee mutual funds that create a distinctive edge. The absence of various account fees further enhances the affordability of trading and investing through Fidelity.

Pillars of Support: A Deep Dive into Fidelity’s Customer Support Services

In the world of finance, having a strong pillar of support can make a significant difference in the user’s experience. Fidelity, a revered name in the brokerage industry, lays a robust foundation of customer support services aimed at guiding its clientele through their financial voyages. This segment sheds light on the facets of Fidelity’s customer support encompassing response time, knowledge of support staff, and availability across varied communication channels.

Seamless Communication Channels
  • 24/7 Phone Support:
    • Fidelity upholds a tradition of being accessible to its clientele by offering 24/7 phone support for brokerage accounts, ensuring that help is just a call away anytime you need it​​.
  • Online Chat:
    • An online chat service is available, extending the bridge of communication between Fidelity and its customers​​.
  • Email Support:
    • Reach out to Fidelity’s support team via email, a channel that complements the real-time communication platforms​​.
  • Extended Channels:
    • Beyond the conventional, Fidelity also provides support through live chat during extended business hours, 24/7 virtual assistants, email, social media, and a dedicated subreddit. These channels ensure that you’re never too far from getting the help you need​.
Prompt Response: A Mark of Excellence
  • Phone Response Time:
    • The essence of time is well understood at Fidelity. Phone calls to the company are generally answered within a remarkable time frame of two to three minutes, ensuring that your queries don’t keep you on hold for long​​.
  • Email Response Time:
    • Email queries are meticulously attended to within one to two days, with several being answered within a few hours, a testament to Fidelity’s commitment to providing timely responses​.
Knowledgeable Staff: Your Financial Comrades

The expertise of Fidelity’s support staff is a cornerstone of its customer service. The accurate responses to email queries signify a knowledgeable support team adept at handling a myriad of customer inquiries​​.

Across the States: Physical Investor Centers
  • Investor Centers:
    • Adding a personal touch to digital interactions, Fidelity has physical Investor Centers spread across the United States, offering an avenue for in-person consultations and support​​.

Fortifying Financial Frontiers: Delving into Fidelity’s Security Measures

In the intricate realm of financial transactions, the sanctity of security cannot be overstated. Fidelity, with its long-standing legacy in the brokerage domain, pledges a robust security apparatus to shield both user data and assets. This chapter unveils the security measures employed by Fidelity, highlighting the certifications and recognitions attained in ensuring a secure trading environment.

Digital Defense Mechanisms
  • Strong Authentication Protocols:
    • Embracing the essence of secure access, Fidelity mandates strong username and password requisites upon the initial account access. The security mesh is further tightened with multi-factor authentication (MFA), a feature that barricades unauthorized access even with compromised login credentials​.
  • Secure Email Communications:
    • Fidelity advocates secure, encrypted email communication for any discourse regarding your accounts, ensuring a secure channel for such interactions​​.
  • Real-Time Security Alerts:
    • In a bid to foster real-time awareness, Fidelity has provisioned email, text, and online notifications for certain transactions that could potentially impact the security or integrity of your accounts​.
Phone Interaction Safeguards
  • Voice Recognition Technology:
    • Fidelity MyVoice® technology adds an extra layer of security to phone interactions, eliminating the need for PINs or passwords, thus making calls both convenient and secure​​.
On-Site Security Provisions
  • Customer Verification and Restricted Data Access:
    • A meticulous customer verification process is in place, alongside a controlled data access policy ensuring that employees access data on a ‘need-to-know’ basis, thus maintaining a high level of data integrity​​.
  • Branch and Office Security:
    • Vigilant monitoring in all work areas coupled with security badge access for authorized personnel acts as a deterrent to theft or unauthorized data usage​​.
Recognitions and Certifications
  • Trusted Wealth Management Company:
    • The accolade of being voted as the most trusted wealth management company for 2022, especially for “protecting privacy and security,” is a testament to Fidelity’s unwavering commitment to secure financial engagements​.