Fidelity Review 2025

The Bottom Line

Fidelity is the broker we'd recommend to most investors. They combine zero commissions with genuine customer advocacy—no payment for order flow, no account minimums, no transfer fees, and actual humans answering the phone 24/7.

The main drawback is their 10.575% margin rate—nearly double what discount competitors charge. But for most investors who don't use margin, Fidelity is hard to beat.

What Fidelity Does Best

No Payment for Order Flow

Fidelity is the largest retail broker that doesn't sell your orders to market makers. This means better execution quality, especially on larger trades. While the difference is pennies on small orders, it can add up for active traders.

Customer Service

Call Fidelity at 3am and a human answers—quickly, with knowledge. This sounds basic, but try getting phone support from Robinhood (you can't). When something goes wrong with your money, this matters.

Research Quality

Fidelity aggregates research from 20+ providers including Morningstar, Zacks, Argus, and their own analysts. The stock screeners are genuinely useful, not just checkbox features.

Fractional Shares

Buy as little as $1 of 7,000+ stocks and ETFs. Schwab limits fractional shares to S&P 500 names; Fidelity opens it to almost everything.

Zero Account Fees

No minimums. No maintenance fees. No transfer fees (in or out). No IRA fees. Fidelity makes money on asset management, not nickel-and-diming retail customers.

Where Fidelity Falls Short

Margin Rates

At 10.575%, Fidelity's margin rates are more than double Public (4.9%) or Robinhood Gold (5.75%). If you trade on margin, this is a significant cost disadvantage.

Platform Design

The website and mobile app are functional but dated. Active Trader Pro (the desktop platform) is powerful but feels like 2010 software. Robinhood and Webull have far more modern interfaces.

No IRA Match

Robinhood offers 3% on IRA contributions. Webull offers 3.5%. Fidelity offers zero. If you're opening a Roth IRA and want free money, look elsewhere.

Options Cost $0.65

Robinhood and Webull offer free options. Fidelity charges $0.65/contract. For active options traders, this adds up.

Fees & Pricing

Platform & Tools

Fidelity offers three ways to trade:

• Fidelity.com: The main website. Functional, comprehensive, but not pretty.
• Fidelity Mobile: iOS and Android apps. 4.7 stars. Solid for basic trading and account management.
• Active Trader Pro: Desktop software for active traders. Customizable layouts, real-time data, advanced charting. Powerful but dated interface.

Investment Options

Fidelity offers essentially everything:

• Stocks & ETFs (7,000+ with fractional shares)
• Options
• Mutual funds (3,300+ no-transaction-fee funds)
• Bonds & CDs
• Crypto (via Fidelity Crypto)
• International stocks (25+ countries)

Who Should Use Fidelity

• Long-term investors who value research and support over flashy apps
• Retirement savers looking for comprehensive IRA options
• Large account holders who want trustworthy custody
• Anyone who values execution quality (no PFOF)
• Investors who might need help (24/7 phone support)

Who Should Look Elsewhere

• Margin traders: 10.575% is too high. Use Public (4.9%) or IBKR (5.83%).
• Active options traders: $0.65/contract adds up. Robinhood is free.
• Mobile-first traders: Robinhood and Webull have better apps.
• IRA starters: Robinhood's 3% match is hard to pass up.

The Verdict

Fidelity isn't the flashiest broker, but it's the most trustworthy. They manage $11+ trillion, have been around since 1946, and consistently act in customers' interests (no PFOF, no transfer fees, real phone support).

If you're building wealth for the long term and want a broker you'll never need to leave, Fidelity is the answer.