BROKER REVIEW

Fidelity Review: low-cost index funds, retirement accounts, and the eligibility problem for non-US investors

Fidelity is a major US broker built for long-term investors: strong index funds, retirement accounts, and planning tools. For many non-US investors, the limiting factor is simple: you may not be eligible to open a full account.

Educational content only. Not personalized investment advice.

Disclosure: We do not have an affiliate relationship with Fidelity as of this review. Links to Fidelity do not generate commissions for us.

Visit Fidelity.com → Read IBKR review (global alternative) →

TL;DR

Fidelity is a full-service US broker designed around long-term investing: diversified index funds, commission-free ETF trading (for many US retail accounts), retirement accounts (IRA / Roth IRA / 401(k) plans), and strong planning tools. If you’re eligible (often US-based), it can be a clean “one-broker” setup. If you’re non-US, the practical issue is onboarding and eligibility — which is why a global broker like IBKR is often the more reliable default.

WHERE FIDELITY SHINES

  • Strong lineup of low-cost index funds and broad ETF access (for eligible accounts).
  • Excellent US retirement account ecosystem (IRA / Roth IRA / 401(k)).
  • Good research, screeners, and planning tools.
  • Established brand for US clients and long-term investing.

WHERE IT’S WEAKER

  • Non-US account opening is restricted in many cases.
  • Multi-currency workflow and global market access are typically weaker than IBKR.
  • Not built around “pie” automation like M1 Finance.
  • Active trading tooling exists, but it’s not the core proposition.

Eligibility and product menus vary by residency and the specific Fidelity entity. Always verify current onboarding rules before planning around Fidelity.

Non-US investor and Fidelity isn’t available? Use a global broker as your core, then add automation only if you truly need it.

Open with IBKR → Open with M1 (pies) → Open with Webull (trading) →

Disclosure: We may earn a commission if you open an account using our links. You do not pay extra.

Who Fidelity is actually for

GOOD FIT

  • You live in the US (or are otherwise eligible to open a full Fidelity account).
  • You want one place for long-term investing + retirement accounts.
  • You prefer diversified index funds over constant trading.
  • You value planning tools and solid support.

NOT A FIT

  • You’re non-US and need reliable onboarding from abroad.
  • You want broad global market access and multi-currency workflows.
  • You want automated portfolio allocations with one-click rebalancing.
  • You’re optimizing for high-frequency trading tools above all else.

Fees and how they really show up

Fidelity is competitive on headline costs for long-term investors, but “big brand” doesn’t mean “always cheapest.” The real drag usually comes from the products you choose and any add-on services — not from the act of placing a trade.

  • Commissions: many US online stock/ETF trades are commonly $0 for retail clients (eligibility varies).
  • Fund costs: expense ratios matter. Some index funds can be extremely low-cost; other funds/programs can be much higher.
  • Options: per-contract charges can apply; confirm current pricing before using options at scale.
  • Service fees: basic accounts often have no maintenance fee, but wires, special services, or advisory programs can add costs.
  • International friction: if you push beyond US markets/currencies, IBKR is typically more flexible.

Cost basics: Fees really matter · Study: fees compound.

Markets, products, and account types

Fidelity is built primarily for US investors. The shelf is wide; the real constraint is usually eligibility and cross-border flexibility, not a lack of instruments.

  • US stocks and ETFs: broad coverage of US-listed securities.
  • Mutual funds: very large lineup (Fidelity + third-party).
  • Bonds and CDs: broad US fixed-income access.
  • Options: available for approved accounts under standard levels.
  • Account types (US): taxable brokerage, IRAs, Roth IRAs, employer plans like 401(k), and more.
  • International: some access exists, but IBKR is typically better if you want global direct trading and multi-currency handling.

Platform, research, and planning tools

Fidelity’s tooling is aimed at long-term investors who care about research, planning, and execution — not “endless trading app” behavior.

  • Web + mobile apps for investing, alerts, and account management.
  • Screeners for funds, stocks, ETFs, and bonds.
  • Planning tools and calculators for targets and savings rates.
  • Desktop platform (Active Trader Pro) for more advanced workflows.

If you want deeper charting without turning your broker into a “research app,” use TradingView for analysis and execute at your broker.

Safety, regulation, and protection

Fidelity is a large, established US brokerage. Operational strength improves reliability, not investment outcomes. Market risk stays yours.

  • Regulation: Fidelity brokerage entities operate under standard US broker-dealer oversight.
  • Protection schemes: eligible accounts typically have standard investor-protection coverage up to program limits.
  • Not covered: market losses and strategy risk.

How Fidelity fits into a broader broker setup

For US investors, Fidelity can be the core broker for retirement + long-term investing. For many non-US investors, the roles flip: IBKR becomes the global core, and Fidelity (if usable at all) becomes optional.

  • US-based: Fidelity can hold most long-term assets; add another broker only for niche needs.
  • Non-US: it’s usually simpler to make IBKR your core.
  • Automation: if you truly want automated allocations, consider pairing a core broker with an automation-focused option like M1.

Build the plan first: What is an ETF?, Diversification, Rebalancing.

FAQ: Fidelity

Is Fidelity good for beginners? +
Yes, if you’re eligible to open an account. Fidelity fits long-term beginners who want diversified index funds and clear account types, not day-trading features.
Can non-US investors open a Fidelity account? +
Often not. Eligibility depends on residency, tax status, and the specific Fidelity entity. Confirm current onboarding rules for your country before planning around Fidelity.
Is Fidelity good for long-term ETF and index investing? +
Yes, especially for eligible US investors. The platform is built for “buy diversified funds and hold” strategies with retirement account support.
What fees should I watch at Fidelity? +
Focus on fund expense ratios, any advisory/managed-account fees, options contract charges, and international/currency-related costs if you go beyond US markets.
Should I choose Fidelity or Interactive Brokers? +
If you’re US-based and mainly need retirement accounts plus long-term investing, Fidelity is often simpler. If you’re non-US or prioritize global access and multi-currency workflow, IBKR is usually the better core broker.

Need to verify eligibility and current Fidelity terms? Check official rules for your residency before you plan around this broker.

Visit Fidelity.com → Back to Brokers hub →

Disclosure: We do not have an affiliate relationship with Fidelity as of this review. Links to Fidelity do not generate commissions for us.

Educational content only. Not personalized investment advice.

Investments can lose value and past performance does not guarantee future results. You are responsible for your own decisions and for confirming tax and legal rules in your country.

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