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Fidelity Reviews
Fidelity Basic Information
Fidelity Investments is an international provider of financial services and investment resources that help individuals and institutions meet their financial objectives.
Once known primarily as a mutual fund company, Fidelity has adapted and evolved over the years to meet the changing needs of its customers. Today, that evolution is reflected in our menu of products and services. In addition to more than 300 Fidelity mutual funds, we also offer discount brokerage services, retirement services, estate planning, wealth management, securities execution and clearance, life insurance and much, much more.
What hasn’t changed over the years is our commitment to continuous improvement, state-of-the-art technology and peerless customer service. Fidelity is responsible for many innovations that are standards in the industry today. We reinvest a substantial portion of our revenues each year back into technology to deliver new products and services to investors. And we are consistently recognized by industry surveys and publications for providing some of the highest levels of customer support.
3 Customer Reviews of Fidelity
Mark on December 29, 2008
COMMISSSION:
This is not the cheapest site for commission fees, despite the 3 tiers of fee structure, which includes all stocks and options at $19.95 per trade up to 35 trades, $10.95 per trade after that and up to 120 trades, and then $8.00 per trade beyond that, the options also incur a fee of $0.75 per contract. Mutual funds can be traded with a fee of $75, and the margin rate stands anywhere between 8.8% and 4% depending on the debit balance.
CUSTOMER SERVICE:
With three options available for communication, the first of which is an extensive list of phone numbers directed towards specific enquiries, this can add as a great benefit to the service provided as there is no waiting in a telephone queue with others who have an enquiry in relation to a completely different aspect from you, and the operator will be more experienced in handling your type of query. Other means of communication are online messages, via you account and also live chat at certain times.
TRADE TOOLS & SERVICES:
In regards to tools the site offers calculators, planners, worksheets, alerts and quotes as well as a great database for research in all of the trading and market sectors, as well as news and updates, this can prove to be a great place for educating oneself a little further prior to executing trades.
WEBSITE & ACCOUNT SECURITY
With a customer protection guarantee in which you will be reimbursed any losses due to the fault of the broker, you can trade assured that you are in safe hands, with employees restricted access to personal information, firewalls, SSL encryption, automated log off, and a security team monitoring the system.
Tarik on January 6, 2009
Fidelity is my favorite all purpose broker for a bunch of reasons. But I’ll cover the bad stuff first then get to the good stuff.
CONS
Fees: Fidelity’s weakest trait is their fees. It costs $19.95 to trade stocks if you have less than $50k in any joint accounts with them. Luckily, I trade infrequently so this cost doesn’t harm me too much.
PROS
Aside from fees, I love Fidelity.
1. Old and trusted, I don’t have to worry about Fidelity going bankrupt or losing liquidity, etc. That’s a big plus considering these turbulent market times.
2. Security selection. They offer a wide variety of stocks, bonds, funds, REITs, and so no. Also the research is top notch, and covers a wide range of strategies: both fundamental and technical.
Support: Customer service is A+. Talk to anyone almost 24/7. Very good here.
Tools: They offer every type of tool in the business, plus provide incredible charts and financial data for the serious fundamentalist.
Website Security: When you hit the Fidelity homepage, they redirect you automatically to a secure site. I had my account hacked once, but Fidelity reversed the trades and called me before I even knew what happened. They were VERY professional about the matter, and answered all of my questions.
I give Fidelity a huge recommendation. If you’re buying long term and can justify the cost, then Fidelity is a wonderful choice for anyone.
OnlineBrokerReview on January 7, 2009
Registration - C
Trading - D
Charts - D
Research Tools - A
Commissions and Fees (Pass/Fail) - Pass, for those that qualify with 36+ trades/year and $25,000 in household assets or $50,000 in household assets or 72+ trades/year
Fidelity has really great research tools. Beyond that, they offer nothing impressive that stacks up well against the top online brokers. The trading engine and charts are below average. Commissions and fees can also be excessive for those that do not qualify for discounts.
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