Fidelity Broker Review

fidelity broker

Fidelity Broker Review

 

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 $7.95 per trade and options have a base of $7.95 plus $0.75 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. TD Ameritrade charges $9.99 per equity trade, Scottrade charges $7 per equity trade and E*TRADE charges $9.99 as their standard rate.

 

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.

 

Final Thoughts

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!

 

 

As always if you have questions or comments regarding Fidelity, please leave us a message below!

 

2 Comments

  • Daniel Watkins

    October 8, 2017 at 5:52 pm

    Here is a list of improvements I would like to see from Fidelity ATP desktop software;

  • Daniel Watkins

    October 8, 2017 at 5:53 pm

    Here is a list of improvements I would like to see form Fidelity ATP desktop software;
    – Have ability for faster trade executions via keyboard shortcuts. I shouldn’t have to fill out a trade window every time, there should be quick buttons to trade very quickly. Your Trade -> Stock Shortcuts in Settings is not useful because I have to save a quantity of shares in the shortcut… Why no option for ‘ALL’ shares or % of shares held, or buy say $1500 of the stock at the Ask with 1 button click, because quantity can change every time.
    -Have the Quote tool change colors, pulse when volume is increasing greatly and other indicators going off; VISUAL CUES to show that a penny stock in an instance of the Quote tool is getting wild. If behind another tool, slightly Opacitize.
    -Have a mini chart inside the Quote tool, by the current price, or perhaps when the mouse hovers over.
    -ability to see original cost basis (purchase price) under lots, not just under positions
    -watchlist and alerts premarket and afterhours
    -Have a reminder that the 10 hour time limit is approaching, or have a count down. Highly annoying to have to login again, losing all changes to the profile made since the last login.
    -Level 2 for OTC stocks in nearly non-existent on ATP. ThinkOrSwim is much better in this regard.
    -With all tools, have ability to immediately be able to enter the ticker and press enter after opening an instance of the tool (such as the quote and chart tool currently does, but Directed Trading does not). Things need to be uniform!
    -Have an option to have a % volume increase sorting ability in watchlists.
    -Have a penny stock Moon scanner (massive volume, inc PPS %, for the entirety of the Nasdaq, NYSE & OTC markets, in Signal Alerts tool.
    -Increase the clickable zones for selecting different time periods in the Chart tool. Sometimes I click, the menu goes away, but no time change.
    -Have a 3 month/6mth/1yr chart times but have ability to have hourly candles instead of daily.
    -Have VWAP indicator in charts.
    -Have the ability to show a list of recently closed tools/tickers.
    -In the ticker text field of all your windows, have the ability to deal with spaces, such as a space character before or after the ticker. Fidelity ATP cannot handle that, cannot find the ticker. That should be easy to fix, a few conditional statements.
    -Have stock float size data for the ticker in the Quote tool. Show what Watchlists the ticker is in in QTool. Also, marginability and Social Sentiment as well.
    -Fidelity ATP sometimes shows an incorrect balance in my account. Widespread issue (many ppl same thing). BUG
    – Have the ability 2 see the history of news alerts that are alerted 2 the user. Because, they only show for about 5 seconds in the lower right hand corner of the screen, then they disappear and no way to know what it was if the user does not read it. So there should be a history of news alerts list.
    -Ability to prevent ‘generic market news’ news alerts such as midday market behavior, etc. I don’t care about these.
    -Show the latest news in the title bar of the Chart and Directed Trade windows, not just in Quote and News tool.
    -When day ends and aftermarket begins; When in the Directed Trade window, the ‘TIF’ field changes from ‘Day’ to ‘IOC’. So then I have to change it to ‘Day+’. Who thought that the user would want Immediate or Cancel for aftermarket orders?
    – In the Directed Trade window, sometimes it says my limit price is too far away from the current price. This is ridiculous. It is not that far away. I know what I am doing, stop babysitting.
    -If I log on to Fidelity ATP before premarket opens. So say I log in at 1am. Stay logged in, when premarket opens, the directed trade window will say that it is outside of the available hours, cannot use. But then I quite and relogin, now it works. BUG.
    -Have ability to use more than 30 tools, for people with fast CPU and multiple monitors, and use more than 1 core of CPU. 4-6 cores becoming standard.
    -Allow streaming Time&sales, Level 2, and streaming order status in mobile Fidelity. U have streaming quotes but not streaming order status? Come on.. Also, when I select ‘Sell’ on mobile Fidelity, show how many shares I am holding so I don’t have to look in my account first.
    -On Directed Trade window of Fidelity ATP, have ability 2 collapse the account#/buyingpower/symbol, etc type area so that there is more room just for the Level 2 quotes.

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