Fidelity Investments

I was forced to switch to Fidelity from Empowerment when I changed jobs. I took out a loan on my 401k. Shortly after, Corona virus hit. My hours with the airlines were drastically cut. I received an email from Fidelity offering to “help ease the financial stress caused by a Corona Virus.” As I read it, I thought it was a cruel joke! It advised me that if I accepted “delayed payments” I would pay a penalty for each of my “MISSED” (their language) payments. I was further advised that at the end of the delayed payment period I would be required to pay DOUBLE the amount of my 401k payments monthly until the total balance of the “missed” payments was satisfied.

I transferred all my investments from Betterment to Fidelity. Betterment provided a PDF with all the cost basis information for fidelity, which is extremely important for calculating taxes. However, Fidelity refuses to use the information provided by Betterment, and wants me to fill out a form calculating all the cost basis information on my end. There are over 500 lines that I need to enter and for each one multiply shares times price. This is definitely something that Fidelity should do and not theirs customers to do, it takes several hours to fill out this form. When speaking to a manager her excuse was that Fidelity cannot "interpret" financial information from other firms. Really?? You cannot multiply shares * price and force your customers to fill out 500 lines? This is complete nonsense.

Yesterday I transferred money to Fidelity Investment. They told me that they won't margin for my buying until tomorrow. Today they told me they will have to hold my money until Monday. It's not a trust investment company to invest with. What you have read about Fidelity Investment customer reviews 100% Truth. STOP! Don't invest with Fidelity.

I have a business proposal for a company in Africa, I tried to transfer money to that company from Fidelity, then fidelity headquarter manager wants me out of Fidelity. Very rude, and unprofessional. I call everyone leave Fidelity.

I have been sitting on hold for over 40 minutes now. Last night I was on hold two times for at least 30 minutes trying to talk to someone. They don't respect your time. Use Vanguard instead, as they answer the phone right away and are both polite and efficient. Infuriating experience with Fidelity.

I am not sure why so many people have 1 star reviews. I think they are great. I have been using Fidelity for so many years that I used to have to pay to use them. Now they are free. Their client services is great too. ** Thank you Fidelity.

Applied for an account withdrawal, paid the additional fee for overnight. It was supposedly shipped priority express two day mail. Was given an invalid tracking # and now my check cannot be located and they asked me to contact post office, post office states to contact shipper. Now they have no idea what happened to the check. They refused do an electronic funds transfer to my account even though they have my correct bank information and have verified it. Will only stop and re-issue another check, so the issue will more than likely happen again. Check is now over a week late. Post office states that they cannot locate package and it was more than likely not mailed at all. Called before lunch to speak to a supervisor, was told they would have to call me back and that call would be within the hour... They never called me back.

Their website and mobile platforms are far outdated compared to other brokers. My biggest issue however is how long anything takes. Request a wire transfer, most brokers will have that done within an hour or two, some take a few minutes. Fidelity will take all day sometimes into the next to transfer your funds out. Any request for "account features" says average wait time is one business day, been a week since my request for options and I still haven't received any response despite having chat in multiple times and being told they would have it done "later that day". Maybe they do have some positive points but with all the other brokers out there that have the same and better offerings I greatly regret my decision to open an account with Fidelity.

Over the past few years I have placed trades and stop losses in my account. Routinely, these trades have been exercised below the time of the trade. Today, I had a stop loss on a stock and had the exact stock stop loss in my Interactive Brokers account. The stock had a sudden price change lower and my Interactive Brokers account exercised the stop at the exact price of my stop. My Fidelity account exercised the stop almost 3 points lower. Improper fills have occurred over the past few years, but I was unable to prove it. But now, I have documented evidence. Clearly, Fidelity is either dishonest or incompetent. I've had it!!! I'm transferring my entire Fidelity account to Interactive Brokers.

I hope no one gets the need to deal with Fidelity Customer Service. Very long wait times and bad customer service. Stay away from Fidelity, please! I have been dealing with Fidelity for the last 3 months or so and it's pain to get someone on the phone to help. There's no help and you are stuck!