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Who Should Consider Fidelity?
Fidelity is a strong choice for a wide range of investors, from beginners to advanced traders. Those looking for extensive research tools and comprehensive features for stocks, ETFs, and fixed income will find the platform well-suited to their needs. The platform also offers managed portfolios with guidance from financial advisors, appealing to those who want a mix of self-directed and advisor-led strategies.
Fidelity stands out with its sophisticated tools like screeners, third-party research, and portfolio analysis, along with the Active Trader Pro platform. This platform is ideal for active traders who need advanced features like level II quotes, heat mapping, and customizable trading tools. One minor limitation is that the portfolio analysis tool may not provide a complete view of diversification, and the platform could use a design refresh.
Fidelity Commission and Fees
Fidelity offers zero-commission trading for stocks and ETFs, and it uniquely includes over-the-counter (OTC) stocks in its commission-free offerings. Options trading is free, with a $0.65 per contract fee. Additionally, Fidelity stands out by not receiving payment for order flow, ensuring greater transparency in pricing, which it claims saves traders significant amounts on large share orders.
There are minimal fees for many services, such as outgoing wires and account transfers, with fees generally lower than other platforms.
Fidelity Platform and Technology
Fidelity offers a broad range of account types, including taxable investing, retirement accounts, business accounts, and managed portfolios. The platform also supports specialized accounts for education savings, medical expenses, trusts, and charitable giving.
Desktop Platform
Fidelity’s desktop platform offers comprehensive analysis tools and detailed research capabilities. The platform breaks down holdings by stock, fixed income, and other investment factors, allowing for detailed portfolio analysis.
Fidelity Active Trader Pro
The downloadable Active Trader Pro platform is highly rated for its advanced trading features, making it a top choice for both new and experienced traders. Customizable features include alerts, heat mapping, trade journals, and more than 45 market filters. The platform is easy to navigate and provides real-time analytics and trading ideas.
Charting
Fidelity’s charting capabilities rival the best in the industry, with tools designed for day traders and those who rely on technical analysis. Users can access advanced features like 114 chart indicators, trading from charts, and customizable chart templates.
Order Types
Fidelity offers a wide variety of order types, including conditional and durational orders. Multi-leg options orders are available, though some conditional orders are not accessible on the mobile app.
Fidelity is known for its superior order execution, with reported savings of over $1.6 billion for traders in 2020. The firm also voluntarily reports price improvement savings, ensuring transparency.
Fidelity Managed Portfolios
Fidelity provides a range of managed portfolio options, from robo-advisors to fully managed services with financial advisors. Fidelity Go, the basic robo-advisor, offers fee-free management for accounts under $10,000. For larger accounts, the fees are competitive, with a 0.35% annual fee for accounts over $50,000. For those seeking more personalized advice, Fidelity Personalized Planning and Advice offers a combination of robo-advisor features and access to live financial advisors, with a 0.50% annual fee.
Fidelity Mobile App
Fidelity’s mobile app is highly rated and offers portfolio monitoring, trading, and research tools. A beta trading experience enhances the app’s functionality for iOS users, but full access to some research may require using the desktop platform. Key app features include customized news feeds, retirement planning, live TV, webinars, and trade execution.
