Value For Investors
Value For Active Traders
Commission & Fees
Platform & Tools
As far as full service brokers go, Fidelity is one of the best. They have all the shoots and whistles for investors but if you are an active trader then you may want to look elsewhere like Tradestation or Lightspeed who offer better commissions and a more powerful platform.
Fidelity is a full service broker that is headquartered in Boston, MA and has had its doors open since 1946. They have over $2 trillion in global assets and over 180 regional offices throughout the United States that clients can utilize for a more personal touch.
As you can see Fidelity has been around a long time and has stood the test of time by providing the the tools and services that meet and exceed their clients expectations.
I had a great experience interacting with their customer service reps who were professional and very helpful in handling my questions and getting me set up with a new account.
They even followed up with me to make sure I everything was going OK and if I had any questions. I value customer service that goes above and beyond their expectations and that is what you will get here at Fidelity.
Commissions & Fees
Their commission rates are fairly competitive as far as full service brokers go with equities starting at just $4.95 per trade and options have a base of $4.95 plus $0.65 per contract. There are definitely cheaper options out there but most of those brokers won’t have all the offerings as Fidelity.
For instance, they send trade confirmations directly to your emails or mobile device and provide you with free research reports from over 10 different firms. The trade confirmations is a great feature that is especially beneficial when you’re away from your computer but have open orders that are getting filled so that you are kept in the loop.
Looking closer at Fidelity’s commission structure you will see that they offer competitive rates within the full service broker industry. For example, if we compare them to Ameritrade, Scottrade and E*TRADE’s standard equity commission rate you will see that Fidelity falls on the lower end of the spectrum.
Trading Platforms & Tools
Fidelity offers an active trading platform called Active Trader Pro that is sophisticated with robust graphics and powerful tools. The platform is powerful and intuitive with plenty of customization features and sophisticated tools with streaming data and quotes, real-time risk monitoring, interactive charts, news feeds, time and sales and watch list capabilities to a name few. The only thing I wish it had is hotkey capabilities but they do have a order entry window that allows for quick click and submit trading.
With proprietary tools such as Trade Armor you’ll have all the key information you need to make informed decisions right in front of you with the ability to manage entry and exit strategies combined with news, charts and research in an easy-to-use tool. I found charting to be easy with solid functionality and plenty of indicators to include. Placing and executing orders is easy and the positions overview window is laid out with all the necessary data. I
n 2015, Active Trader Pro launched the Daily Dashboard, which is essentially an optional welcome window that displays an indices overview, gain/loss heat-map of your positions, market news, and quick links to other actionable content. Overall their trading platform is easy to use and powerful enough to support active traders while they make quick decisions.
Their educational section is full of lessons on different topics and they even have guides for technical indicators and option strategies. The technical indicator section was my favorite as I love to play with charts and customize them with different indicators.
In this section they go over just about every indicator there is in detail so if you’re interested in charting but haven’t done much to educate yourself on it, check this area out for sure. They also have a great section on college saving for all you parents out there that covers areas from taxes, saving and getting loans if you need to.
Fidelity is a solid broker that has been around for a long time. They have plenty of resources to aid traders and their customer service was helpful while I set my account up. The only thing that would be a setback is the commission rate. Compared to other full service brokers they are competitive but when you get into brokers that specifically cater to active traders it turns out to be a lot more.
That is why I would recommend this broker if you are planning on investing or casually trading but if you’re an active trader like myself that trades a lot every day you may want to check out some of our other reviews on TradeStation, LightSpeed or Interactive Brokers. If you would like some more information on Fidelity you can check out their site through this link.
Check out how Fidelity compares to other brokers by clicking on the image below!
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