Fidelity is a well-known broker platform if you’re looking to start an IRA or a mutual fund. As a result, not much is known about the trading aspects of their platform throughout the industry. However, as they do provide the service, they should be noted in our reviews. To be honest, Fidelity is actually a pretty good platform to use if you plan on investing and trading in different companies. They offer low fees, good research and a large selection to choose from.
The platform is actually older than Charles Schwab as it was opened in 1946. The company hold over 17 million account and manages $1.7 billion in customer assets. They have good customer service, excellent options when it comes to retirement investments and they are definitely a broker you should check out.
Commissions and Fees
Despite being focused towards the retirement and long-term investment side of things, Fidelity has some impressive fees when it comes to standard trading. They offer a flat-rate fee which is common among many of their competition and, as a result, you will only be charged $4.95 per trade. This is a lot cheaper than other platforms and makes this great if you don’t have a lot of startup cash. If you plan on trading options, you will be charged a $0.65 contract fee.
When it comes to mutual funds, Fidelity offers thousands. They offer over 13,000 mutual funds and 4,000 of these are NTF. If you want a fund that has a fee, you will be charged $49.95. However, unlike a lot of their competition, Fidelity doesn’t charge you when you want to sell. If you want to trade EFTs, Fidelity offers customers 91 commission-free EFTs. This is a nice number and is sure to attract a lot of investors. However, it is still behind some their competition (ETrade, etc.).
Research and Tools
Research is an area where Fidelity shines. When you bring up a stock, you will be given an array of options and stats that you can use before you make the trade. The number of options demonstrates the market that Fidelity is trying to capitalize on – which is the long-term investor. The interface is well laid out and gives you 12 third-party sources for research which, to this date, is the largest I have seen from any broker. Everything is where it needs to be and it is all mobile friendly so you can view it on the move. Fidelity is also one of the few provides that will give their own takes on stocks with detailed reports and educational pieces. The only other platform I know to do this is Charles Schwab.
Fidelity is one of the best when it comes to customer support. They are quick to answer the phone and give you any answer you need. They are incredibly helpful and knowledgeable when it comes to stocks and picked up the phone in under 2 minutes. Where they really shined was with their email support. They were excellent and none of our emails were ignored or missed. This is definitely a platform to look at if you want a great customer experience.
Fidelity is well-known for their mutual funds and IRAs but they also offer an adequate platform for trading stocks. They are known for their intensive research that is methodologically laid out in a way that any investor will understand. They offer a range of third-party methods to do research and are also one of the cheaper options when it comes to investing. The only real problem I could see with the broker is their mobile platform, which could do with a bit of tweaking.