Fidelity offers zero-commission trades, zero-expense-ratio funds, excellent research, and top-tier customer service. Here is our full review of the platform for 2026.
Fidelity Investments manages over $12 trillion in assets and serves over 43 million individual investors. It is one of the largest and oldest brokerages in the US (founded in 1946) and consistently ranks at or near the top of brokerage reviews across the industry.
For most investors, Fidelity is the single best place to open an account. Here is why.
What Fidelity offers
Account types: Individual and joint taxable brokerage, Traditional IRA, Roth IRA, rollover IRA, SEP IRA, SIMPLE IRA, HSA, 529 plans, custodial accounts (UGMA/UTMA), trust accounts, estate accounts, 401(k) plans for businesses, and the Fidelity Youth Account (ages 13 to 17).
Tradable assets: Stocks, ETFs, mutual funds (including no-transaction-fee funds), options, bonds, CDs, and limited cryptocurrency.
Managed options: Fidelity Go (robo-advisor, free under $25K), Fidelity Personalized Planning & Advice (human advisor + digital, 0.50%), and Fidelity Wealth Management (dedicated advisor, $500K minimum).
Fees
Stock and ETF trades: $0 Mutual fund trades: $0 for Fidelity funds and 3,400+ no-transaction-fee (NTF) funds. $49.95 for non-NTF funds. Options: $0 + $0.65/contract Account fees: $0 (no annual, inactivity, or closing fees) Fidelity Go (robo-advisor): $0 under $25,000. 0.35%/year above $25,000.
The zero-expense-ratio funds: Fidelity offers four mutual funds with literally 0% expense ratios:
- FZROX (Fidelity ZERO Total Market Index Fund)
- FZILX (Fidelity ZERO International Index Fund)
- FNILX (Fidelity ZERO Large Cap Index Fund)
- FZIPX (Fidelity ZERO Extended Market Index Fund)
These funds have no expense ratio, no minimum investment, and no transaction fees. A 3-fund portfolio using FZROX + FZILX + FXNAX (bond fund at 0.025%) costs essentially nothing. This is the cheapest way to invest in the entire stock market.
Key features
Zero-expense-ratio index funds
Fidelity is the only major brokerage offering funds at 0.00% expense ratios. For a long-term investor, the difference between 0.00% and even 0.03% (Vanguard’s VTI) is small but real. On $500,000 over 30 years at 7%, the 0.03% difference is roughly $5,000. Not life-changing, but free is free.
The ZERO funds track Fidelity’s own indexes (not S&P or CRSP), but their performance is virtually identical to comparable Vanguard and Schwab funds.
Fractional shares
Buy as little as $1 of any stock or ETF listed on US exchanges. Combined with recurring investments, you can automate a dollar-cost averaging strategy with any amount.
Research and education
Fidelity’s research tools are among the best in the industry. Stock screeners, ETF screeners, mutual fund evaluator, options analysis tools, and third-party research from 20+ providers. The Learning Center offers free courses on investing basics, retirement planning, and options strategies.
Fidelity Youth Account
A brokerage account for ages 13 to 17. Teens can buy and sell stocks and ETFs with parental oversight. No account fees, no minimums. One of the best tools for teaching kids about investing.
Cash management
The Fidelity Cash Management Account is a combined checking/savings product with no monthly fees, no minimums, free ATM withdrawals worldwide (ATM fees reimbursed), no foreign transaction fees, and free checks and bill pay. It also integrates seamlessly with your brokerage account.
Customer service
Phone, chat, email, and in-person support at 200+ Fidelity Investor Centers nationwide. Hold times are typically under 5 minutes. Representatives are knowledgeable and empowered to resolve issues. Consistently rated #1 for customer service among online brokerages by J.D. Power.
What we like
Zero-expense-ratio funds. The cheapest possible way to build a diversified portfolio. No other brokerage matches this.
Best-in-class customer service. Phone support with short wait times, knowledgeable reps, and physical locations. This matters when you have a tax question about your IRA or need help with a 401(k) rollover.
Comprehensive account types. Every account type you could need under one roof: brokerage, IRA, Roth, HSA, 529, custodial, trust. No need to open accounts at multiple institutions.
Youth account. A genuine innovation for financial education. Teens get real investing experience with parental guardrails.
Cash management. The cash management account eliminates the need for a separate bank for checking. Free ATMs worldwide and no fees.
No minimums on anything. No minimum to open an account, no minimum for mutual funds (including ZERO funds), no minimum for fractional shares.
What we do not like
The website and app can feel cluttered. Fidelity offers so many features that the interface can be overwhelming for beginners. Navigation takes time to learn. Robinhood’s simplicity is more approachable for first-time investors.
Active Trader Pro (desktop) is dated. The desktop trading platform, while powerful, looks and feels outdated compared to modern alternatives. Casual investors will not need it, but active traders may prefer other platforms.
Limited cryptocurrency. Fidelity offers Bitcoin and Ethereum trading but not the broader range available on Robinhood or dedicated crypto exchanges.
HSA investment options require $10 minimum. The Fidelity HSA requires a $10 minimum to start investing, and the investment interface is slightly less polished than the standard brokerage.
ZERO funds are not portable. Fidelity ZERO funds can only be held at Fidelity. If you ever transfer to Vanguard or Schwab, you would need to sell them (potentially triggering capital gains in taxable accounts) and rebuy equivalent funds. Standard index funds (FSKAX, FXAIX) do not have this issue.
Fidelity vs. Schwab vs. Vanguard
| Feature | Fidelity | Schwab | Vanguard |
|---|---|---|---|
| Expense ratios | 0.00% (ZERO funds) | 0.03% | 0.03% |
| Mutual fund minimums | $0 | $0 (Schwab funds) | $3,000 (Admiral) |
| Fractional shares | Yes | Yes | ETFs only |
| Physical locations | 200+ | 300+ | 0 |
| Customer service | Excellent | Excellent | Good |
| Robo-advisor | Fidelity Go (free < $25K) | Intelligent Portfolios ($0, $5K min) | Digital Advisor (0.20%, $3K min) |
| Youth account | Yes (13-17) | No | No |
| Cash management | Excellent | Excellent | Basic |
All three are excellent. For most investors, the differences are marginal. Choose based on which features matter most to you. Fidelity edges ahead on zero-expense funds and the youth account. Schwab wins on physical branch count. Vanguard wins on simplicity and the legacy of Jack Bogle.
Who Fidelity is best for
Almost everyone. Fidelity is the most complete brokerage for DIY investors. Whether you are investing your first $100 or managing a $2 million portfolio, Fidelity has the tools, funds, and support.
Cost-conscious investors. Zero-expense-ratio funds are unmatched. A 3-fund portfolio at Fidelity costs less than anywhere else.
Families. Accounts for every family member: custodial accounts for kids, Youth Account for teens, joint accounts for couples, 529s for college savings.
People who value customer service. If you want to call someone and get a helpful answer quickly, Fidelity is the best in the business.
Who should skip Fidelity
Investors who want a robo-advisor as the primary experience. Fidelity Go is solid but not as feature-rich as Betterment or Wealthfront for automated investing. If you want a pure hands-off experience with tax-loss harvesting, a dedicated robo-advisor is better.
Crypto-heavy investors. Fidelity’s crypto offering is limited. If cryptocurrency is a significant part of your strategy, you need a dedicated exchange or Robinhood.
The bottom line
Fidelity is the Swiss Army knife of brokerages. Zero-expense-ratio index funds, zero commissions, zero account minimums, world-class customer service, and every account type under one roof. For DIY investors building a 3-fund portfolio or anyone who values having a reliable, full-service platform, Fidelity is the benchmark.
If you are opening your first brokerage or IRA account and want one institution that can serve you for decades, Fidelity is the safest and most capable choice.
Our rating: 4.8 / 5
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