What makes it great: Fidelity is another of the biggest online stock brokers in the United States that makes it easy to manage all of your investments under one roof. However, Fidelity stands out from the rest for its retirement accounts and related features. If your main goal is long-term investing, Fidelity could be the best choice.
In addition to low fees accounts, Fidelity offers a set of no-fee ETFs, meaning you can make a broad investment that’s almost truly no-cost. It also supports multiple trading apps for various investment types and goals. The retirement analysis tools are also some of the best around and are free for all customers.
Potential drawbacks: Fidelity doesn’t give us much to complain about. But it should be noted that it doesn’t support certain less common assets like futures or crypto. It also charges a relative high fee for assisted trades, but that’s not out of the norm among peers. Expert active traders may also find Fidelity’s platforms limiting compared to others.
Commissions and fees: Fidelity mainly offers accounts with no recurring fees. You won’t pay commissions on most trades outside of fixed income securities and a $0.65 cent per contract fee for options. Fidelity also features four index mutual funds with 0% expense ratios. Broker-assisted trades will set you back $32.95.
Pros:
- Low-cost accounts and commission-free trades
- Excellent resources for retirement planning
- Several apps to manage your accounts and investments
Cons:
- Clients can’t trade crypto or futures
- High cost for assisted trades
- Less ideal for some active, expert traders