Fidelity Investments
Fidelity
Best Overall Brokerage
4.8
Full-service brokerage offering zero-commission trading, proprietary zero-expense-ratio index funds, advanced research tools, and Fidelity Go robo-advisor for comprehensive wealth management.
The Bottom Line
Fidelity is the best overall brokerage for most investors because it combines zero-commission trading, ultra-low-cost ZERO index funds, a free robo-advisor for accounts under $25,000, comprehensive research tools, and access to human financial advisors. The integrated ecosystem allows you to manage stocks, retirement accounts, mutual funds, bonds, and planning tools from a single platform. While the interface is more complex than beginner-focused brokers, the additional features and lower costs make Fidelity exceptionally valuable for investors at any experience level.
At a Glance
| Trading Commissions | $0 stocks, ETFs, and options |
| Account Minimum | $0 |
| ZERO Index Funds | 0% expense ratio |
| Robo-Advisor | Free under $25K; 0.35% above |
| Fractional Shares | Starting at $1 |
| Human Advisors | Available at 200+ branches |
| Mutual Funds | 3,000+ no-transaction-fee |
| Account Types | Individual, IRA, 401(k), 529 |
| Trading Fees | $0 commissions on stocks, ETFs, and options |
| Account Minimum | $0 |
| Fractional Shares | Yes |
| Robo-Advisor | Available |
| Management Fee | 0% for Fidelity Go (under $25K); 0.35% above |
The Fidelity Ecosystem and Wealth Management
Fidelity stands apart by offering a complete financial ecosystem extending far beyond trading stocks. You gain access to brokerage services, retirement planning, wealth management, credit cards, and banking products. This integrated approach lets you manage your entire financial life from a single dashboard. The Fidelity Go robo-advisor uses sophisticated algorithms to create a diversified portfolio tailored to your risk tolerance and investment timeline, then automatically rebalances quarterly. Fidelity also operates over 200 physical branch locations for in-person advisor meetings. The mutual fund selection is unparalleled with over 3,000 no-transaction-fee options. For retirement planning specifically, Fidelity offers tools to estimate readiness, calculate required withdrawals, optimize Social Security claiming strategies, and model scenarios. The platform integrates external accounts for a holistic net worth view.
ZERO Index Funds and Ultra-Low-Cost Investing
Fidelity's ZERO index funds represent one of the most significant developments in low-cost investing. These funds track major market indexes with 0% expense ratios, meaning Fidelity charges nothing to hold them. The average expense ratio for actively managed U.S. stock funds is 0.73% per year. On a $100,000 investment, this means $730 annually in fees. Vanguard's lowest-cost index funds charge 0.03%-0.05%. Fidelity's ZERO funds charge literally nothing. Over 40 years, investing $10,000 annually in a ZERO fund versus a 0.05% fund results in approximately $35,000 more wealth. The ZERO lineup covers large-cap, extended market, emerging markets, and international exposure. Combined with their bond fund, these create an incredibly low-cost, globally diversified portfolio. Fidelity also offers commission-free trading on over 2,000 ETFs and thousands of mutual funds.
Research Tools and Professional-Grade Analysis
Fidelity's research and educational resources are among the best in the industry. The platform provides Morningstar research reports with detailed analysis of individual stocks and mutual funds. You can view earnings call transcripts, analyst consensus ratings, valuation metrics, and historical performance data. Stock screening tools filter investments by fundamental metrics, technical indicators, and custom criteria. The platform includes real-time market news, economic calendars, and portfolio analytics showing risk exposures and correlations. For active traders, Fidelity offers advanced charting tools, market scanners, and trading alerts. The company publishes extensive educational content through webinars, articles, and interactive tools covering everything from basic investing concepts to advanced tax strategies. Fidelity employs over 1,000 financial advisors who provide personalized guidance on portfolio construction, retirement planning, tax optimization, and estate planning.
Ready to get started with Fidelity?
Full-service brokerage offering zero-commission trading, proprietary zero-expense-ratio index funds, advanced research tools, and Fidelity Go robo-advisor for comprehensive wealth management.
Get Fidelity InvestmentsPros & Cons
Pros
- Proprietary ZERO index funds with 0% expense ratios keep 100% of your returns invested
- Comprehensive account types including individual, IRA, 401(k), and 529 plans in one platform
- Full-service brokerage with stocks, ETFs, mutual funds, bonds, options, and futures
- Free Fidelity Go robo-advisor for accounts under $25,000 with automatic rebalancing
- Access to human financial advisors at 200+ physical branch locations
- Award-winning research tools with Morningstar reports and professional-grade analysis
Cons
- Platform complexity can feel overwhelming for new investors compared to simpler brokers
- Personalized advisory services typically require $25,000-$50,000 minimum in assets
- Advisory fees beyond the free tier can accumulate on larger account balances
- Mobile app is functional but less polished than newer fintech competitors
Frequently Asked Questions
What are Fidelity ZERO index funds?
ZERO is Fidelity's proprietary line of index funds that track market benchmarks with zero annual management fees. They cover S&P 500, total U.S. market, international, and bond indexes. Fidelity absorbs the operating costs to attract and retain customers.
How much does Fidelity Go cost?
Fidelity Go is completely free for accounts under $25,000. Above that threshold, the annual advisory fee is 0.35% of assets under management, significantly lower than traditional wealth management at 0.5%-1%.
Can I withdraw Roth IRA contributions before retirement?
You can withdraw contributions at any time without penalty or taxes. Withdrawing earnings before age 59.5 triggers a 10% penalty and taxes unless you qualify for an exception such as education, first home purchase, or medical expenses.
Does Fidelity offer fractional shares?
Yes. Fidelity allows fractional share purchases in both regular brokerage and retirement accounts. You can invest in any stock with as little as $1.
What custodial account options does Fidelity offer?
Fidelity offers UGMA and UTMA custodial accounts allowing parents to invest on behalf of children with favorable tax treatment on the first $1,250 of earnings. The child gains control upon reaching the age of majority.