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Fidelity Review

Saturday, July 31st

2021 Online Stock Trading Platform Reviews

Fidelity Review 4.5 Star Rating

Fidelity

4.5 Star Rating
  • Cost: $4.95/trade
  • Free for mutual funds
  • Minimum Deposit: None

Named as the Best Online Broker by Investor's Business Daily in 2016-2018, Fidelity has the kind of longevity that many competitors can only hope to achieve. Created in Boston in 1946, this full-service brokerage traditionally comes in as the fourth-largest asset manager in the US, with assets under management of approximately $2.4 trillion.

You've got 3 general options when using Fidelity as your online stock broker: self-directed investing at $4.95 per trade (free for mutual funds), digital management with Fidelity Go at a fee of 0.35%/year, or full-service wealth management that requires a minimum investment of $250,000.

Fidelity has an intuitive, attractive suite of tools to help you plan, manage, and understand your investments. Their Stock Screener lets you use your desktop or mobile device to quickly find investments that are a good fit for the criteria you select; you can also get pre-determined stocks that have been screened by third-party experts. The Stock Research Dashboard gives you the ability to discover and validate possible opportunities with helpful research results and data visualization tools, including social trends, charts, and much more.

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Their customer service team is also available 24/7 - very helpful for investors who have a question before making a late-night stock trade or who can only devote time to their investment strategy on the weekends.

Another useful perk offered by Fidelity is the Full View feature. You can enter all of your financial information, whether it's a Fidelity account or held at another institution and see all of your online accounts in one place. The Full View capability allows you to track spending, create budgets, and see your transactions in a monthly display.

In fact, the only complaint we could find about Fidelity as an online stock broker was about their Active Trader Pro platform. Clients who participate in the stock market as active traders have said that the Fidelity platform doesn't have the breadth of functions that many competitor brokers offer. But, that won't apply to the large majority of investors, who are looking for an affordable, trustworthy way to manage their stock purchases and other investments.

When it comes to that - affordability, reputation, and helpful customer service - Fidelity is absolutely an online stock broker that measures up.

Who is the Best Online Stock Broker?

Whether you consider yourself an avid investor or a beginner just starting to look into the stock market, it's easy to get overwhelmed by all of the stock trading options. Although some people still use traditional stock brokers, many people have found they can save a lot of money by trading stocks themselves.

Besides significant cost savings, another great advantage to executing your own transactions is that you can avoid the time and energy necessary to deal with "professional" stock brokers. Many of these individuals try to convince you to buy or sell stocks, because they earn a commission every time you make a transaction. With online stock brokers, you never have to talk to any salesmen.

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Online Stock Trading Platform FAQ

No! In fact, most online stock trading platforms go out of their way to introduce beginners to the investment process. Online stock trading is appropriate for all levels of experience.
It's commonly accepted that investing in the stock market is an essential part of growing one's wealth. Using buying and selling stock online is a terrific way to get started or to continue expanding your portfolio. These stock trading platforms often have 24/7 assistance, in contrast with your local investment firm that operates according to traditional business hours. Plus, trading stock online can take off any pressure you might feel, letting you do the research and make your choices at your own pace and comfort level.
No matter which online stock trading platform you choose, you'll likely have a wealth of options at your fingertips. From access to third-party resources like Morningstar and CFRA, to plans that include professional management of your investments, you can get as much (or as little) input as you want.
Some stock trading platforms let you enter financial information from other institutions, so that you have an all-in-one place to track your net worth. You may also see tools for budgeting, tracking spending, and so forth. Also, if you choose a platform that's connected with your bank, you might get extra perks like free stock trades or seamless transfer of funds between accounts.
It's only as expensive as you decide to make it. You'll typically see per-trade fees, but some platforms have no-charge options. For example, you might be able to buy and sell mutual funds with no additional fees, or only pay fees for trades that require a live broker's assistance.
That depends on the stock trading platform you select. If you're just getting started, you may want to choose to invest with a service that has no minimum deposit. On the other hand, if you're an experienced investor and you're working with a larger investment amount, you'll be able to access more options among stock trading platforms.
Most stock trading platforms offer no guarantee that you'll be satisfied with their services. However, there are a small number of platforms that will refund your service fees and/or commissions paid if you're not happy, while working with you to address the problem.
Yes! This is a highly-regulated industry, and most of the stock trading platforms you'll find have been in business for decades (if not longer!). Where you decide to trade stocks will largely depend on your experience level with investing, the amount you're looking to put into the market, and what kind of investment help you want to have available.
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Continued from above...

And, of course, with fluctuations in the economy, and subsequent rises and falls in stock prices, some people panic and pull out significant investments - leaving the door wide open for others to take advantage of big opportunities to buy low and hopefully sell high later.

Of course, the best online stock brokers do have the option to work with a consultant if you choose. Especially if you're just starting to learn about investments, you may feel more comfortable knowing you can access an expert if the need arises. These services may be included, or you may have to pay for them a la carte.

So, when choosing the right online stock broker for your needs, how do you know which one is best? Before you jump in and start buying up your shares in Apple or Coca-Cola, here are some factors to keep in mind:

  • Information. From beginners to experts, having up-to-date information on the stock market is critical. What resources does the online stock broker have available to guide you in your decision-making?
  • Fees. When purchasing your stocks, will you be charged a percentage of your total buy or a flat fee? When the time comes to sell, what will you pay?
  • Reputation. What do other investors say about their experience buying and selling with the online stock broker? Have they had positive interactions with the broker when they've needed help? How many investors have chosen this particular broker's services?

TopConsumerReviews.com has reviewed and ranked the best online stock brokers available today. We hope this information helps you choose the right broker for your stock buying and trading needs!

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