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Fidelity Review 2024

Written by
Adam N.
Fact checked by
Updated
2d ago
Regulated and trusted. Tested via live trading.
14,127 people chose this broker
Available in United States

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.

  • Commission-free US stocks and ETFs
  • Great trading platforms and research
  • US and international stocks
Overall score
4.7/5
Minimum deposit
$0
Stock fee
Low
Options fee
Low
Inactivity fee
no
Account opening
1-3 days

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to Fidelity

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

Fees

Score: 3.6/5
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.
  • Free stock and ETF trading
  • Low bond fees
  • No inactivity fee

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

Broker
US stock
Fidelity
$0.0
E*TRADE
$0.0
TD Ameritrade
$0.0
Fidelity stock and ETF commission

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.

Broker
USD margin rate
Fidelity
13.6%
E*TRADE
14.2%
TD Ameritrade
14.8%
Fidelity annual margin rates

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

Broker
US stock index options
Fidelity
$6.5
E*TRADE
$6.5
TD Ameritrade
$6.5
Fidelity stock index options commission

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.

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

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.

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.

Broker
Mutual fund
US micro e-mini stock index futures
Fidelity
$37.5
-
E*TRADE
$20.0
$15.0
TD Ameritrade
$50.0
$22.5
Misc. fees compared with other brokers

Safety

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

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.
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
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.
  • No minimum deposit
  • User-friendly
  • Many account types
Read more

Mobile app

Score: 5/5
Fidelity has a great mobile trading platform. It is user-friendly and well-designed.
  • User-friendly
  • Good search function
  • Good variety of order types
Read more

Desktop platform

Score: 4.3/5
Fidelity's desktop platform is highly customizable, offers many order types and has a clear fee report.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
Read more

Product selection

Score: 3.6/5
Fidelity offers a lot of different trading products, from stocks to options, including international stocks. However, forex and futures trading is not available.
Read more
“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.”

FAQ

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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

author image
Adam Nasli
Author of this review
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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