Fidelity review: Everything you need to know

Ucha Vekua

With over 70 years of history and millions of customers, Fidelity is one of the largest investment firms in the US. It’s best known for its brokerage accounts and mutual funds, but it also offers retirement plans, cash management tools, and access to professional advice.

If you’re weighing up your options, this Fidelity review covers everything you need to know. We’ll look at account types, trading costs, investment choices, and customer experience, so you can decide if Fidelity is the right fit for your money.

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Table of contents

Fidelity: general overview

Fidelity was founded in 1946 and has grown into one of the largest financial services companies in the US.¹ It’s widely recognized for its brokerage accounts, mutual funds, and retirement services, but it also offers tools for everyday money management through its Cash Management Account.

Unlike a bank, Fidelity is centered on investing and wealth management. Still, customers can handle much of their personal finances in one place, from saving for retirement to paying bills. With over 200 investor centres across the country, you also have the option of in-person help if you prefer more than a digital experience.²

Here are some of the main services Fidelity provides:

  • Brokerage accounts for trading stocks, ETFs, and bonds
  • IRAs and retirement plans, including 401(k) accounts
  • Fidelity ZERO index funds and thousands of mutual funds
  • A Cash Management Account that works like a checking account
  • Access to financial advisors, research, and planning tools

Fidelity doesn’t provide mortgages or personal loans. Its strength is in low-cost investing, customer service, and digital platforms that work for both beginner and advanced investors.

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Fidelity checking account reviews

Fidelity doesn’t offer a regular checking account. Instead, it has the Cash Management Account (CMA), which is designed to cover most everyday banking needs.³ You can use it to pay bills, set up direct deposits, and withdraw cash at ATMs worldwide.

Key features to know about the Fidelity CMA:

  • Debit card purchases and ATM withdrawals
  • FDIC insurance on uninvested cash when swept into partner banks (up to $250,000 per depositor)⁴
  • Free checkwriting and online bill pay
  • No overdraft facility, so it's best suited for cash management rather than borrowing
FeesBest for
$0 monthly feeEvery day spending alongside investments
No minimum balanceMoving cash between investments and daily use
ATM withdrawals are free at Fidelity’s partner networkCustomers who don’t need overdraft options

Fidelity savings account reviews

Fidelity doesn’t provide a standard savings account like you’d find at a traditional bank. Instead, it offers investment-based alternatives that can serve a similar purpose if your goal is to set aside cash and earn some return.

The most common alternative is a money market fund, which invests in short-term, low-risk securities and often pays more than a typical savings account.⁵ You can also consider short-term options like treasury bills or brokered CDs if you prefer a more predictable return.

Key features to know about Fidelity’s savings alternatives:

  • No traditional savings account available
  • Money market funds can offer better yields, but aren’t FDIC-insured
  • Treasuries and CDs may be suitable if you prefer fixed returns
  • All managed directly in the Fidelity app or online platform

Fidelity CD

Fidelity gives customers access to brokered certificates of deposit (CDs), which are issued by banks and purchased through Fidelity’s brokerage platform. They pay a fixed rate of interest and are FDIC-insured up to $250,000 per depositor, per issuing bank.

You can buy new issue CDs directly at par value or purchase CDs from the secondary market. Terms range from 3 months to 5 years. Interest is paid into your Fidelity cash core account at set intervals.

Key features to know about Fidelity CDs:

  • Brokered CDs can be sold on the secondary market if you want to exit early, although prices may be higher or lower than what you paid
  • Fidelity offers CD ladders and an Auto Roll program to help reinvest maturing CDs automatically
  • No early withdrawal penalty, since brokered CDs must be sold rather than broken
FeatureDetails
Minimum purchase$1,000 for most new issue CDs, $100 for fractional CDs⁶
Terms available3 months to 5 years
FDIC insuranceUp to $250,000 per depositor, per issuing bank
InterestPaid to your Fidelity cash core account

Fidelity customer experience

Fidelity makes it easy to manage your money online. You can use the website, the mobile app, or Active Trader Pro if you want advanced trading features.

If you prefer personal support, Fidelity offers 24/7 phone and chat help, plus a network of branches where you can get in-person assistance. There’s also a Learning Center with webinars and guides, designed to help both beginners and experienced investors build confidence.

Fidelity overdraft fees

Fidelity doesn’t work like a traditional bank, so there aren’t standard overdraft fees to worry about. If you use the Cash Management Account and spend more than you have available, transactions are simply declined.

For investors, this setup can be helpful. You won’t risk surprise charges, but it also means there’s no overdraft line of credit or linked account protection.

If you need more flexibility, you’ll need to move money in from another account or sell investments to cover your balance.

Fidelity comparison/alternatives

Not sure if Fidelity is the right platform for you? Here’s how it compares to other major US brokers and investment apps.

ProviderStock/ETF trade feeOptions contract feeAccount minimum
Fidelity$0$0.65 per contract$0
Charles Schwab$0$0.65 per contract$0
Robinhood$0$0$0
Vanguard$0 ($25 for phone orders)$1 per contract for accounts below $1 million$0
E*TRADE¹⁰$0$0.65 per contract (lower fees possible with high volume)$0

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Fidelity pros and cons

Fidelity is a strong all-rounder in the world of investing. It combines low fees with a wide range of products and tools, but it may not suit every type of investor. Here are the key points to weigh up.

Pros

  • $0 commissions on US stock and ETF trades
  • Large selection of no-transaction-fee mutual funds
  • Highly rated mobile app and digital platforms
  • Access to fractional shares, options, bonds, and crypto
  • Strong educational tools and market research

Cons

  • No futures trading available
  • Options contracts carry a $0.65 fee each
  • An online platform can feel dated compared to competitors
  • Advanced traders may find limited crypto access restrictive

Frequently asked questions about Fidelity

Here are answers to some of the most common questions people have about Fidelity. If you’re weighing your options, these details can help you decide whether Fidelity is the right platform for your investing or day-to-day money management needs.

Is Fidelity a good bank?

Fidelity isn’t a bank in the traditional sense, but it’s one of the largest and most trusted investment firms in the US. It offers $0 stock and ETF trades, thousands of mutual funds, and strong retirement account options.

For investors who want low-cost trading and access to research tools, Fidelity is often considered a top choice.

What is the rating for Fidelity?

Fidelity consistently earns high ratings from independent reviewers. NerdWallet gave Fidelity a 5 out of 5 overall in 2025, while StockBrokers.com ranked it as the #1 overall broker in its annual review.¹¹,¹²

These ratings highlight Fidelity’s mix of low fees, strong platforms, and customer service.

Is Fidelity a safe bank?

Yes. Fidelity is a member of the Securities Investor Protection Corporation (SIPC), which protects up to $500,000 in securities (including $250,000 in cash) in the event of the brokerage's failure.¹³

Uninvested cash is also swept into partner banks and can be eligible for FDIC insurance up to $250,000. On top of that, Fidelity uses encryption, two-factor authentication, and fraud monitoring to keep accounts secure.


Fidelity stands out as one of the strongest choices for US investors. With $0 stock and ETF trades, a wide range of mutual funds, and tools that work for both beginners and advanced traders, it combines low costs with a solid reputation.

While it doesn’t offer traditional banking products like mortgages or personal loans, its Cash Management Account and investment platform cover most everyday needs.

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Sources

    1. Fidelity Careers – We have over 50 years of investing experience
    2. Fidelity – Find an investor center
    3. Fidelity – What is the Fidelity Cash Management Account?
    4. Fidelity – Savings features
    5. Fidelity – Money Market Funds
    6. Fidelity – Certificates of Deposit (CDs)
    7. Stock Brokers – Fidelity / Charles Schwab Comparison
    8. NerdWallet – Robinhood at a glance
    9. Bank Rate – Fidelity / Vanguard Comparison
    10. Stock Brokers – E*TRADE Review
    11. NerdWallet – Fidelity review rating
    12. Fidelity – Stock Broker awards recognition
    13. Fidelity – What is the SIPC coverage limit?

    Sources checked 09/23/2025


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This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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