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Fidelity Review
A highly rated US broker for long-term investors: strong research, no-fee index funds and excellent customer service.
889 reviews · checked Jul 2026
Trustpilot skews negative for large platforms that don't invite reviews.
Best for
- Long-term investors
- Retirement accounts
- Low-cost index investing
Not best for
- You're a high-frequency day trader
- You need non-US market access
Our verdict & scoring
Fidelity is consistently rated among the best US brokers for buy-and-hold investors, with commission-free stock/ETF trading, well-regarded research, strong retirement tooling and zero-expense-ratio index funds. Less oriented toward high-frequency active trading than thinkorswim-style platforms.
Scores are based on our review methodology. Affiliate relationships do not buy higher ratings.
Who should actually use Fidelity
Fidelity is a natural fit for long-term US investors: retirement savers, buy-and-hold index investors and beginners who value strong research, education and service. No account minimums and fractional shares lower the barrier to entry, and its zero-expense-ratio index funds are a genuine cost advantage for passive portfolios. It's a poor fit if you're outside the US (UK/EU retail generally isn't served) or if you're a high-frequency day trader — Fidelity isn't built around that workflow.
What we'd change
Fidelity offers no paper-trading/demo account, so you can't rehearse strategies risk-free before committing real money. Its focus is squarely on US residents, leaving no route for UK/EU retail clients. And while the platform is capable, it isn't designed for active day trading the way a thinkorswim-style platform is.
How it compares to Charles Schwab
Fidelity and Charles Schwab are the two heavyweight US buy-and-hold brokers, and they line up closely: both charge $0 on US stock/ETF trades, $0.65 per options contract, and both carry SIPC coverage up to $500,000. Schwab pulls ahead for active traders thanks to the thinkorswim platform (which includes paper trading) and futures access; Fidelity edges it on zero-expense-ratio index funds, customer service and retirement tooling. Both are US-only.
Pros
- Excellent research and service
- Zero-expense-ratio index funds
- Great for retirement investing
Cons
- Not built for active day trading
- US-only focus
Fees & hidden costs explained
$0 US stock/ETF commissions; $0.65 per options contract; several zero-expense-ratio index funds.
Safety, regulation & availability
US: Fidelity Brokerage Services LLC is an SEC-registered broker-dealer and FINRA/NYSE/SIPC member (CRD# 7784). Aimed at US residents; UK/EU retail generally not served.
Account protection: SIPC coverage up to $500,000 (including $250,000 cash).
Available to retail traders in:
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Frequently asked questions
Is Fidelity good for beginners?
Yes — strong education, fractional shares and no account minimums make it beginner-friendly for long-term investing.
Is Fidelity safe?
Fidelity Brokerage Services LLC is an SEC-registered broker-dealer and FINRA/SIPC member, with SIPC coverage up to $500,000 (including $250,000 for cash). SIPC protects against broker failure, not against market losses.
How much does it cost to trade on Fidelity?
US stock and ETF commissions are $0, options are $0.65 per contract, and several index funds carry a zero expense ratio. Advisory fees apply on managed products.
Can I use Fidelity outside the US?
Fidelity is aimed at US residents; UK and EU retail clients are generally not served.
Does Fidelity offer a paper trading (demo) account?
No — Fidelity does not provide a paper-trading account, so you practise with real money or not at all.
Does WeTheTraders earn a commission from Fidelity?
No. We link to Fidelity's official site on a direct-link basis and earn no commission, and our score is never affected by commercial relationships either way.
Official sources
Risk warning: Trading stocks, options, futures, forex, crypto, CFDs and funded accounts involves risk. You can lose money. This website is educational only and does not provide financial, investment, tax or legal advice.
Leverage, volatility, fees, spreads, liquidity and platform rules can increase losses.
Affiliate disclosure: We may earn a commission when you click some links on our site. This does not cost you extra. Our comparisons are educational and transparent, and our rankings are not affected by commissions.