COMPARISON

Fidelity vs Interactive Brokers (IBKR): which broker fits you in 2026?

Fidelity is a strong US “home base” broker (if you’re eligible). IBKR is the global default when residency, multi-currency funding, and broad market access matter. This page compares the reality: eligibility, FX drag, costs, platform friction, and reporting.

Educational content only. Not personalized investment advice.

Eligibility, pricing, and product access can change by country and entity. Always verify current terms on the broker’s official site.

Shortcut: if you are non-US (or you care about multi-currency + global access), default to IBKR unless you have a specific reason not to. If you are US-eligible and want a “traditional” broker experience, Fidelity is often the cleaner day-to-day choice.

Open with IBKR → Open with Fidelity → Read IBKR review → Read Fidelity review → Compare all brokers →

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

Note: Fidelity links are non-affiliate as of this comparison.

TL;DR verdict

Best default for non-US investors: IBKR (country coverage, multi-currency workflow, broader market access).
Best “traditional US broker” experience (if eligible): Fidelity (research, support, UX, long-term investing feel).
Hidden deciding factor: FX + funding friction. For many non-US investors, FX costs matter more than commissions.
Reality check: many people who want Fidelity can’t open it from abroad; many EU/UK retail investors can’t buy US-domiciled ETFs (wrapper rules). Match broker to constraints first.

DECISION SNAPSHOT

Fidelity vs IBKR: the decision in 60 seconds

Choose Fidelity if

• You prioritize a simpler investor experience over pro-grade market access.
• Your use case is mostly buy/hold with minimal FX needs.
• You want a mainstream retail broker feel (support, UX, “set and forget”).

Choose IBKR if

• You care about tight FX conversion and multi-currency control.
• You want maximum product/market access (ETFs, options, global exchanges).
• You want pro-level execution tools and granular settings.

Fidelity vs IBKR: practical comparison

Category	Fidelity	Interactive Brokers (IBKR)
Eligibility (non-US)	Often limited; verify by residency/entity.	Typically broader international availability (still varies by country/entity).
FX + multi-currency	Not a “multi-currency hub” for cross-border workflows.	Strong multi-currency handling; FX workflow is a common reason non-US investors choose IBKR.
Market access	Excellent for US markets; global access depends on offering.	Broad global markets + products; scales with you.
Platform usability	Cleaner “traditional broker” feel for long-term investing.	More complex; best when you keep the plan simple and ignore extra knobs.
Costs that matter most	Great if you’re US-eligible and keep it simple.	FX/workflow + access often dominate the decision for non-US investors.
Best fit	US-eligible long-term investors who want a home base.	Non-US investors + anyone needing multi-currency + global access.

If you want to minimize FX leakage specifically, use: Best broker for cheapest FX (Europe → USD).

The real deciding factors (what actually changes outcomes)

1) Eligibility and product access

If you cannot open/keep the account, the comparison ends. Next, confirm you can buy the instruments you want (US ETFs vs UCITS alternatives, exchange access, restrictions by residency).

2) FX + funding workflow

For non-US investors, repeated conversions can quietly dominate “fees.” Your broker choice should minimize conversion spread, fixed FX charges, and deposit friction.

3) Platform friction (behavior tax)

A broker you dislike creates procrastination or overtrading. The best platform is the one you will actually use consistently for years (recurring deposits, boring buys, minimal tinkering).

If your goal is recurring investing, see: Best broker for recurring investing (Europe).

Pick based on your scenario

NON-US DEFAULT

IBKR

If you are outside the US, IBKR is usually the most “complete” answer because it’s built for multi-currency + cross-border investing.

Open with IBKR → Read IBKR review → Check IBKR pricing →

US HOME BASE (IF ELIGIBLE)

Fidelity

If you are eligible and want a traditional long-term broker experience with strong research, Fidelity can be the cleaner daily driver.

Open with Fidelity → Read Fidelity review →

Note: Fidelity links are non-affiliate as of this comparison.

If your objective is hands-off investing rules (recurring buys + simple rebalancing), use: Best broker for automated portfolios.

DECISION PAGES

If this comparison exposed a constraint (UCITS rules, FX drag, recurring investing), use these pages to pick the correct path:

Best broker for US ETFs (non-US) → Best broker for UCITS ETFs (EU/UK retail) → Best broker for cheapest FX (Europe → USD) →

Default sequence: access rules (US vs UCITS) → FX workflow → recurring investing.

CLUSTER

Next steps: choose the platform

Fidelity review Brokers

What Fidelity does well, where it’s restrictive, and who it fits.

Interactive Brokers review Brokers

Broad markets + multi-currency workflow. More tools, more complexity.

Fidelity vs Charles Schwab Brokers

If you want a “US broker” baseline, compare Fidelity vs Schwab first.

Best broker for long-term ETFs (non-US) Brokers

Long-run fit is about total drag, access, reliability, and repeatability.

CLUSTER

Next steps: costs, FX, and paperwork

Best broker for US ETFs (non-US) Brokers

Access rules + withholding + workflow: the real non-US decision framework.

W-8BEN explained Learn

The form that drives US dividend withholding for non-US investors.

Cheapest FX workflow (Europe) Brokers

If you convert currencies often, FX leakage becomes a recurring fee.

Study: FX drag Study

Why “small %” conversion costs compound into meaningful underperformance.

FAQ: Fidelity vs Interactive Brokers

Which is better for non-US investors: Fidelity or IBKR? +

Usually IBKR, mainly because it is designed for international clients and multi-currency workflows. Fidelity can be excellent, but eligibility for non-US residents is often the limiting factor.

What matters more long-term: commissions or FX costs? +

For many non-US investors, FX costs (spread, fixed conversion fees, and repeated small conversions) can dominate commissions. If you only optimize one thing, optimize FX and funding friction.

Is IBKR too complex for beginners? +

It can feel technical, but complexity is manageable if you keep the plan simple: a small set of ETFs, recurring funding, recurring buys, and minimal tinkering. Most “complexity” comes from optional tools you can ignore.

Can I buy US-domiciled ETFs from Europe using either broker? +

Often the constraint is retail access rules and broker policy (not which broker is best). If US ETFs are blocked for your profile, you typically use UCITS equivalents instead.

Which broker is better for long-term ETF investing? +

If you are US-eligible and want a traditional broker experience, Fidelity can be great. If you are non-US or you want a scalable global broker with multi-currency funding, IBKR is usually the better default.

What is the simplest decision framework for this choice? +

Step 1: confirm eligibility. Step 2: confirm product access (US vs UCITS). Step 3: optimize FX and funding. Step 4: pick the platform you will actually use consistently for years.

Bottom line Non-US investors usually end up at IBKR. US-eligible investors who want a traditional home base often prefer Fidelity.

Open with IBKR → Open with Fidelity → Back to Brokers hub →

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

Note: Fidelity links are non-affiliate as of this comparison.

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Educational content only. Not personalized investment advice. Eligibility, fees, FX pricing, and product access can change. Always confirm current terms and your local rules before opening an account or buying securities.