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About Fidelity Investments
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Established in 1946, Fidelity Investments is an online broker and wealth management company that offers both robo-advisor and advisor-led wealth management accounts. With $0 trading commissions and $0 account minimums, Fidelity is a good choice for beginner and advanced investors alike. Fidelity will introduce cryptocurrency trading through its latest product, Fidelity Crypto, soon.
Pros & Cons
- Free robo-advisor account
- $0 trading commission
- High fees for wealth management
- No futures or options on futures
Featured Reviews
I've been with Fidelity for 13 to 14 years. They are the best broker I have had. Their representatives have been intelligent and efficient and well trained. I have never had a poo...
Read full reviewWhen you leave a company, you can transfer your 401(k) to Fidelity free of charge, and for the last year or so trades are free also. Great website and you can get a daily email wi...
Read full reviewWhat is Fidelity Investments?
Fidelity is a global financial firm that offers a wide range of financial planning and investment services. It serves individual investors and businesses alike with 12 regional centers and over 200 investor centers across the nation.
Fidelity offers many tools to help you reach your financial goals, including:
- Cash management solutions
- Investing and trading
- Retirement planning
- Life insurance and long-term solutions
- College savings and youth savings accounts
- Charitable giving and philanthropic consulting
Fidelity Investments offers different investment accounts, such as:
- DIY investing brokerage account: Account holders will have access to decision-making technology that will help them manage their own investments. Investors will also be able to invest in their favorite exchange-traded funds and companies with fractional share trading using Stocks by the Slice.
- Roth individual retirement accounts (IRA): You can start your retirement savings with a $0 account minimum. With Fidelity’s Roth IRA, you are responsible for choosing and managing your investments.
- Robo-advisor and advisor-monitored investment accounts: Account minimums and fees vary, but you can choose how much input you want from an advisor.
How does Fidelity Investments work?
For investing, Fidelity Investments allows investors to trade stocks, bonds, mutual funds, ETFs, options and foreign currencies with fees as low as $0. Fidelity will also allow cryptocurrency investing and trading soon, with bitcoin and ethereum in select states. At this time, Fidelity does not offer futures or options on futures.
With Fidelity, investors can choose the following services:
- Managing investments themselves
- Using a robo-advisor
- Using a hybrid robo-advisor
- Working with a team of advisors
- Working with a dedicated advisor one on one
You can choose which advisor you want to work with, depending on their location and qualifications. While not all of Fidelity’s advisors are considered fiduciaries, when providing advisory services, advisors act in a fiduciary capacity as part of Fidelity’s terms. Along with managing accounts, advisors apply tax-smart investment techniques to help you minimize the impact of taxes on investing.
Fidelity supports its investors with vast educational resources and tools. Investors can use portfolio analysis tools and screeners to help them make the best investment decisions. Customer service is available 24/7 through a virtual assistant or through the phone. Live team chat is available during normal business hours.
Fidelity Investments fees
With Fidelity, all investors will be able to take advantage of $0 trading commissions and choose from a large index of no-transaction-fee mutual funds. Options will still have a contract fee of 65 cents, and selling orders have an assessment fee of 1 cent to 3 cents per $1,000 of principal.
Fidelity offers different accounts with varying account minimums and fees:
- Robo-advisor Fidelity Go accounts from $0 to $24,999: These accounts require $0 advisor fees and no account minimums. You will need at least $10 in your account to start investing.
- Robo-advisor Fidelity Go accounts of $25,000-plus: Once your account holds $25,000 or more, you'll pay a 0.35% yearly fee, but you'll also have access to a live advisor.
- Wealth management accounts: These accounts range in minimums from $50,000 to $250,000, depending on how much advisor support you want while managing your portfolio. Fees range from 0.50% to 1.50%.
Fidelity Investments FAQ
Does Fidelity have local advisors?
Yes. You can find advisors in many states. It's headquartered in Boston and has 12 regional offices and 200 investor centers across the nation. Some states don't have a Fidelity office or center in them, but services are still available there.
Where is Fidelity Investments available?
Fidelity Investments is available across the U.S. and internationally. Not all services and products are available in all locations.
Are Fidelity Investments fees high?
Fidelity is very transparent with its fees. Most fees are lower than its competitors’, with some accounts having no account minimums or advisor fees. Its wealth management account fees and minimums are slightly higher than other competitors’.
Is Fidelity Investments worth it?
Fidelity Investments is great for both beginner and advanced investors. Investors can create a Fidelity Go robo-advisor account with no minimum or fees if they have less than $25,000 invested. Plus, with thousands of no-fee mutual funds, new investors can get their feet wet without worrying about high costs. Active day traders can profit the most by having minimum fees.
Fidelity Investments Reviews
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- 4,517,438 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Reviewed Sept. 12, 2024
My husband passed away 7/21/24. Fidelity was notified and a death certificate was submitted. I heard nothing from them about his 401K after being told they would be in touch, not a single piece of correspondence. I have called them numerous times and they cannot tell me when the funds will be available. In the mean time, I paid cash to bury my husband and am trying to support two children. One is in private school and one in college but I can not get the funds that rightfully belong to my husband. His beneficiary information was up to date and Fidelity verified I am his beneficiary. I have filed complaints with the SEC, BBB, and am having to consult with an attorney. Are they having cash flow problems????
Reviewed Sept. 6, 2024
For three years I have used my Fidelity account to transfer money from my Business bank account to my 401K account that I have with them. Two months ago the option disappeared in my account. When I called they said my bank account was still linked but now I had to call them or my advisor to initiate the transfer. They said they thought it was best if I talked to an advisor before initiating transfers or I could call them. Apparently they think I’m too stupid to manage my money or talk to my advisor about it. Talk about being made to feel dumb. Really terribly customer service. My advisor wasn’t even made aware of the changes and got two different answers about the problem. One, it was a problem they fixed and the other, sorry no longer an option.
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Reviewed Sept. 6, 2024
On Wednesday, September 4th, at approximately 3 PM ET, I contacted Fidelity with questions concerning the options chain and how to execute a call option. I was connected to Vishaal, a trader from the Active Trader Team. Despite being on the phone with him for roughly 20 minutes, I quickly realized that he was unable to provide accurate answers to my queries. Specifically, Vishaal struggled to clarify the calculation of net profit when trading the stock versus exercising the stock. Given the lack of productivity in the conversation, I requested to speak to a supervisor. At this point, Vishaal transferred me to Max, his supervisor, and this is when the situation escalated beyond my expectations.
From the outset, Max was discourteous and unprofessional. Rather than offering assistance, he repeatedly questioned why I felt the need to speak to a supervisor, insinuating that my request was unnecessary. I found this line of questioning both irrelevant and unhelpful. Nonetheless, I explained that I was dissatisfied with Vishaal’s inability to provide accurate information, particularly regarding the profit calculation. Instead of addressing my concerns, Max pressed further, implying that I had made a habit of contacting supervisors in previous calls. He went on to suggest that my inquiries did not warrant supervisor involvement unless they were urgent. I was taken aback by this hostile approach. I explained that the inconsistent information I had received from multiple traders within the Active Trader Team had necessitated my repeated calls.
Rather than resolving the issue, Max admonished me for seeking help and discouraged me from contacting supervisors in the future. His refusal to answer my questions, paired with his accusatory tone, was not only unprofessional but outright dismissive. In frustration, I was forced to terminate the call. Later that day, I spoke with Nicole, a supervisor from the Client Services Department. I shared the negative experience I had with Max and requested that she document the incident. Nicole assured me that all calls at Fidelity are recorded and available for review if necessary. To my astonishment, the very next day, September 5, 2024, I received a secure message from Fidelity notifying me that all of my accounts (****8560, etc.) were being terminated, effective October 4, 2024.
Fidelity cited its Customer Agreement, stating that they could close accounts at any time, for any reason, and without prior notice (please refer to the attached termination letter for details). This sudden decision was shocking, especially given that it followed my complaint about Max’s inappropriate behavior. I believe this account closure was not only unjustifiable but retaliatory in nature. As a small retail investor, this termination has placed me in an extremely vulnerable position. I am now forced to liquidate my holdings, some of which are held on margin, likely resulting in significant financial losses. Fidelity’s actions have left me feeling powerless and unjustly targeted, simply for seeking clarification on my investment strategy and attempting to hold them accountable for subpar customer service.
Reviewed Sept. 5, 2024
Absolutely terrible. I have John a few million dollars invested with them And I continue to disappoint every time I have an issue. Rely on my mobile app extensively as I travel and need to keep tabs on things. They recently changed it and now it is impossible to use. I called and spoke with Ward and he essentially blew me off. Assured me that the update was much better than the old system, but he doesn't understand a darn thing. Asked him to have somebody call me And explain why these updates are better than the old system. I told him I would be leaving as soon as I can find a better brokerage. Shouldn't be hard to do. He talked for quite a while and basically chastised me for my knee-jerk reaction. I had a few words to say about that of course.
Have had many other issues with them. Also. Discrepancies and account balances that can't be explained. We're talking 1.2 million and they can't explain how much I really have in that account. Over 6 hours on the phone and nobody had an answer for me. They are children with no real expertise. Don't deserve my business or yours. Stay away!!
Reviewed Sept. 3, 2024
I deposited a check into my account. I was told the funds would be available within 24 hours. Guess what? My funds are not in the account. They provided $$ to trade with immediately. I called to get a release on the money. NOT. Holding my money 1 week 1 day. I will be leaving ASAP!
Reviewed Aug. 31, 2024
Cost me a ton of money. I put it in water and I had over 2000 shares of navidea. Sit down about 1:28, I put a stop in at 3% so if it went down it. Would I would get out of it before earnings call on the 28th, I went to change it to 1% to be safe, all of a sudden, it says pending in there. Somebody changed it whatever, I don't care. $23000.
Reviewed Aug. 24, 2024
I have had an account with them for many years. It was never great, suffering from the usual large corporation problems including poor service and long wait lines. Until they lost over three thousand of my money, admit it is their fault but are not sure they can get it back. And if they do, all fees associated with recovering such money will not be reimbursed. Stay away.
Reviewed Aug. 19, 2024
I recently had a small self-directed traditional IRA I wanted to roll over from another source. I talked with Fidelity for over an hour, set up the correct type of account, sent documentation and had the source transfer funds and note the Fidelity account number on the check. Guess no one can read in the processing department. They ignored all of the work I did in advance, sent the check back and said they needed clarification. By the way I already clarified the type of account is was with a Fidelity rep on the phone with me and the rollover source.
Whatever happened to picking up the phone for clarification! Guess it's a bygone era. Fidelity sent the check back to me and I now have to start from the beginning - again. I no longer trust that Fidelity, It is clear that staff training needs augmentation. Appreciate regulatory procedures but the world of Fidelity existed long before QR codes and mobile phone apps.
Reviewed Aug. 2, 2024
I would give it a no star if I could! I am shocked that with the company I am employed we are auto-enrolled into a contribution amount without a grace period for refund. I am a new employee and my paycheck was short quite a bit of money only to find out I was "auto-enrolled" into a contribution (which should be voluntary) and when I contact them as soon as it happened they would NOT refund me for it and said I was auto-enrolled and should have canceled it. "OKAY well I will take $1000 out of your bank account and UNLESS you get my message in time and stop me it is mine to keep" - thievery
Reviewed July 17, 2024
I tried to close an option trade at the end of 3:40 pm 7/16/24 in CVNA on when the one contract was up over $300, the mid-price was $39.40 bid 39.40 and ask was 40.35. I got a message saying sorry the website was unable to take my trade. I sign on this morning 7/17/24 and now I find the bid is 31.70, ask is 34.00 and I am down over $300. Fidelity's inability to have a reliable website cost me over $600.
Fidelity Investments Company Information
- Company Name:
- Fidelity
- Website:
- www.fidelity.com
