Fidelity Review 2026

Fidelity at a Glance

Before diving into the details, here is a quick snapshot of the key facts and figures that define Fidelity as a brokerage platform.

Overview

Fidelity Investments is one of the largest and most well-respected brokerage firms in the United States. Founded in 1946 by Edward C. Johnson II, Fidelity has grown from a single mutual fund company into a full-service financial institution that serves over 46 million individual investors. The company remains privately held by the Johnson family, which means it does not face the same quarterly earnings pressure as publicly traded competitors. This structure has allowed Fidelity to reinvest heavily in its technology, customer service, and product development over decades.

Fidelity offers a comprehensive range of financial services that extends well beyond basic brokerage. Investors can access individual stocks, ETFs, mutual funds, bonds, options, and cryptocurrency through a single account. The firm also provides retirement plan administration for employers, wealth management services for high-net-worth individuals, and institutional trading services. For the average retail investor, Fidelity stands out because of its combination of zero-commission trading, zero-expense-ratio index funds, robust research tools, and extensive educational resources.

One of the reasons Fidelity consistently ranks among the top brokerages is its commitment to reducing costs for investors. In addition to eliminating trading commissions, Fidelity launched its own line of zero-expense-ratio index funds in 2018, including the Fidelity ZERO Total Market Index Fund (FZROX) and the Fidelity ZERO International Index Fund (FZILX). These funds have no minimum investment requirement and no expense ratio whatsoever, making them among the most cost-effective investment products available anywhere. This aggressive pricing strategy has pushed the entire industry toward lower fees.

Pros and Cons

Advantages

• $0 commissions on stocks and ETFs with no hidden fees or payment-for-order-flow revenue on equity trades
• Zero-expense-ratio index funds (FZROX, FZILX, FZIPX, FZTXX) that are exclusive to Fidelity
• No account minimums for brokerage, IRA, or cash management accounts
• Fractional shares starting from as little as $1, enabling dollar-based investing
• Exceptional research with access to reports from over 20 independent research providers
• 200+ investor centers across the United States for in-person assistance
• Wide range of account types including brokerage, IRA, 401(k), 529, HSA, and managed accounts
• Strong order execution quality with price improvement that saves investors money on each trade
• Comprehensive retirement planning tools and calculators
• No foreign transaction fees on the Fidelity debit card linked to the cash management account

Disadvantages

• Active Trader Pro is desktop-only and not available as a web-based application
• Futures trading is not offered, which may matter to advanced traders
• Cryptocurrency selection is limited compared to dedicated crypto exchanges
• Mutual fund transaction fees apply to some third-party funds not on the no-transaction-fee list
• Margin interest rates are not the lowest in the industry, particularly for smaller balances
• Website navigation can feel complex due to the sheer number of products and services offered

Pricing and Fees

Fidelity has established itself as one of the most cost-effective brokerages in the industry. The firm eliminated commissions on online stock and ETF trades in 2019, joining the wave of zero-commission brokerages. However, Fidelity went further than most competitors by also offering zero-expense-ratio mutual funds and maintaining no account minimums across its core products.

Fidelity's zero-expense-ratio index funds deserve special mention. The Fidelity ZERO Total Market Index Fund (FZROX) tracks a broad U.S. stock index with literally no expense ratio, no minimum investment, and no trading fees. The Fidelity ZERO International Index Fund (FZILX) does the same for international equities. These funds are available exclusively to Fidelity customers and represent the lowest-cost way to build a diversified portfolio. Even Fidelity's non-zero funds tend to have expense ratios well below industry averages.

Trading Platform

Fidelity offers multiple trading platforms to accommodate different types of investors, from casual beginners to highly active traders.

Fidelity.com Web Platform

The standard web platform at Fidelity.com provides a clean interface for managing your portfolio, placing trades, researching investments, and monitoring your accounts. The web platform includes real-time quotes, interactive charting, watchlists, and access to Fidelity's full suite of research reports and screeners. For the majority of long-term investors who trade occasionally and want to monitor their holdings, the web platform provides everything needed without installing any software.

Active Trader Pro

Active Trader Pro is Fidelity's downloadable desktop trading platform designed for frequent traders. It offers real-time streaming data, advanced charting with over 60 technical indicators, customizable layouts, multi-leg options trading tools, and a trade armor feature that lets you set conditional orders visually on a chart. The platform also provides real-time analytics, including market breadth data and sector performance heatmaps. Active Trader Pro is available at no additional cost to Fidelity customers who place 36 or more trades in a rolling 12-month period, though Fidelity generally grants access to anyone who requests it.

Research and Screening Tools

Fidelity's stock screener allows you to filter the market by fundamental criteria such as price-to-earnings ratio, dividend yield, market capitalization, revenue growth, and dozens of other metrics. The ETF screener provides similar filtering for exchange-traded funds. Fidelity also offers a mutual fund evaluator that helps compare funds by performance, expenses, risk, and management. Fixed income investors can use the bond screener to search for individual bonds by type, maturity, yield, and credit rating.

Mobile App

Fidelity's mobile app is available for iOS and Android and provides a streamlined experience for managing investments on the go. The app supports all core account functions including trading stocks, ETFs, and options, viewing real-time quotes and charts, depositing checks, transferring funds between accounts, and setting price alerts. The mobile app also includes biometric login through fingerprint and face recognition for security and convenience.

The mobile experience includes a simplified trading interface that makes it easy to place market, limit, and stop orders directly from a stock's quote page. You can also view your portfolio's performance over various time periods, track your asset allocation, and access Fidelity's news feed and analyst ratings. The app has consistently received high ratings in both the Apple App Store and Google Play Store, and Fidelity continues to update it with new features. However, the mobile app does not replicate the full functionality of Active Trader Pro, so very active traders may still prefer the desktop platform for complex analysis.

Investment Options

Fidelity offers one of the broadest ranges of investment products available at any brokerage. Here is what you can trade and invest in through a Fidelity account.

• Stocks: Access to all U.S. exchange-listed stocks, plus international stocks through Fidelity's international trading feature covering over 25 countries
• Exchange-Traded Funds: Commission-free trading on thousands of domestic and international ETFs from all major providers
• Mutual Funds: Over 10,000 mutual funds available, including more than 3,400 no-transaction-fee funds and Fidelity's proprietary zero-expense-ratio funds
• Bonds and Fixed Income: Individual corporate bonds, municipal bonds, U.S. Treasury securities, certificates of deposit, and government agency bonds
• Options: Multi-leg options strategies available with approval, including spreads, straddles, and covered calls
• Cryptocurrency: Trading in select cryptocurrencies including Bitcoin and Ethereum through Fidelity Crypto, a separate service integrated with the brokerage experience
• Fractional Shares: Buy slices of stocks and ETFs for as little as $1 through Fidelity's Stocks by the Slice feature
• Annuities: Access to fixed and variable annuities from third-party insurance providers

Research and Education

Fidelity's research offering is widely regarded as one of the strongest in the brokerage industry. The platform provides access to equity research reports from over 20 independent research providers, including Argus, CFRA, Ned Davis Research, Zacks, and others. This breadth of third-party analysis gives investors multiple perspectives on any given stock, which is valuable for making informed decisions.

The Fidelity Learning Center is an extensive educational resource that covers topics ranging from the basics of investing and retirement planning to advanced options strategies and technical analysis. Content is available in multiple formats including articles, videos, webinars, and interactive courses. Fidelity regularly hosts live webinars and in-person seminars at its investor centers, giving investors the opportunity to ask questions and interact with financial professionals.

For self-directed investors, Fidelity provides detailed stock, ETF, and mutual fund analysis pages that consolidate key metrics, analyst ratings, earnings data, ownership information, and news in a single view. The platform also offers real-time news feeds from major financial news services and a social sentiment tool that tracks mentions and sentiment across social media and news sources. Fidelity's sector and market analysis pages provide macroeconomic context that helps investors understand how broader trends may affect their portfolios.

Account Types

Fidelity supports a wider range of account types than most brokerages, making it possible to consolidate nearly all of your financial accounts on a single platform.

• Individual Brokerage Account: Standard taxable account for buying and selling investments with no account minimum
• Joint Brokerage Account: Shared account for two individuals, commonly used by married couples
• Traditional IRA: Tax-deferred retirement account with potential tax-deductible contributions
• Roth IRA: After-tax retirement account with tax-free qualified withdrawals
• Rollover IRA: For consolidating old 401(k) or other employer plan assets
• SEP IRA: Retirement account for self-employed individuals and small business owners
• SIMPLE IRA: Employer-sponsored retirement plan for small businesses
• 401(k) Plans: Fidelity is one of the largest 401(k) administrators in the country, managing plans for thousands of employers
• 529 College Savings Plan: Tax-advantaged education savings managed through Fidelity's plan options
• HSA (Health Savings Account): Triple-tax-advantaged account for qualified medical expenses with investment options
• Custodial Accounts (UGMA/UTMA): Investment accounts for minors managed by an adult custodian
• Trust Accounts: Accounts held in the name of a trust for estate planning purposes
• Fidelity Cash Management Account: A non-bank cash account with no ATM fees, no foreign transaction fees, and free check writing
• Managed Accounts: Fidelity Go (robo-advisor), Fidelity Personalized Planning and Advice, and Fidelity Wealth Services for various levels of guided investing

This breadth of account types is a significant advantage for investors who prefer to keep everything at one institution. Having your brokerage, retirement, education savings, and cash management accounts all at Fidelity simplifies your financial life and makes it easier to view your complete financial picture in one place. For more information on choosing between account types, see our guide on investment account types.

Customer Service

Fidelity provides customer support through multiple channels. Phone support is available 24 hours a day, 7 days a week, with representatives who can assist with account questions, trading issues, and general guidance. The average wait time is generally reasonable, though it can increase during periods of high market volatility.

Live chat support is available through both the website and the mobile app during extended business hours. For more complex issues such as estate account processing, trust setup, or detailed retirement planning questions, Fidelity offers appointments with dedicated specialists who can provide personalized attention.

One of Fidelity's distinguishing features is its network of over 200 investor centers across the United States. These physical branches allow you to meet with a Fidelity representative in person for account setup, portfolio reviews, retirement planning discussions, and educational workshops. This is a significant advantage for investors who prefer face-to-face interaction, and it sets Fidelity apart from online-only brokerages that offer no in-person support. You can learn more about getting started at how to open a brokerage account.

Who Fidelity Is Best For

Fidelity is an excellent choice for a wide range of investors, but it particularly excels for certain types of users.

Long-Term Investors

Investors focused on building wealth over decades will benefit from Fidelity's zero-expense-ratio index funds, extensive mutual fund selection, and comprehensive retirement planning tools. The combination of no commissions, no account minimums, and low-cost investment products makes it one of the most cost-effective platforms for buy-and-hold investors.

Mutual Fund Investors

With access to over 10,000 mutual funds, including more than 3,400 no-transaction-fee funds and the unique ZERO fund family, Fidelity is arguably the best brokerage for mutual fund investors. No other broker offers a comparable combination of selection, low fees, and proprietary zero-cost funds.

Beginners

New investors benefit from Fidelity's no-minimum accounts, fractional share investing, extensive educational content, and the availability of in-person help at investor centers. The platform is approachable enough for someone opening their first investment account while offering enough depth to grow into as your knowledge and portfolio expand. For a broader comparison of options, see our best investment apps and platforms guide.

Retirement Savers

Fidelity's strength in retirement accounts, from IRAs to 401(k) administration, combined with its retirement planning calculators and access to financial advisors, makes it a natural home for retirement-focused investors. Many people already have their employer 401(k) through Fidelity, and consolidating other accounts there simplifies management.

How Fidelity Compares

Choosing a brokerage often comes down to comparing a few top options. Here is how Fidelity stacks up against two of its most common alternatives. For more detailed reviews, see our Schwab review and Vanguard review.

All three brokerages are strong choices for long-term investors. Fidelity's key differentiators are its zero-expense-ratio funds, strong price improvement on trade execution, and comprehensive account type support. Schwab offers a broader banking integration following its merger with TD Ameritrade, and its thinkorswim platform is favored by active traders. Vanguard remains the gold standard for low-cost index fund investing but offers fewer trading tools and no cryptocurrency access.