First interaction with Fidelity is not the most appealing one. The website design creates a feeling of being back in time to the mid-’90s, with most of the information stowed away in other pages. It left us wondering how advanced the system can be when the first page of the site is so old-fashioned and lacking so much information.
The old-fashioned style makes more sense in light of Fidelity’s experience. The company was founded 1946, and established as the international arm of Fidelity Investments in 1969.
Fidelity has no account fees, no closing fees, no transfer fees, and no account minimum. This is as low as it can get to start trading with a broker. They do charge a $0.65 per-contract commission for options. Other than that, all trades are commission-free. Fidelity was also the first in the market with no expense ratio on index funds. Fidelity does offer other funds that charge an expense ratio, but even that is lower than most brokers.
Another feather in the Fidelity cap is a level of research that is unmatched by competitors. Thanks to many years in the industry, Fidelity can offer its clients data from 20 third-party sources such as Recognia, Ned Davis, and McLean Capital Management. Users can find an equity summary score for each stock quote derived from these research sources.
Fidelity has a live chat and phone service available 24/7, offering more than just service and support and education on various financial subjects. They also offer online educational resources and hold live seminars in company branches.
With its user-friendly system and straightforward and convenient apps, and desktop platform, this broker is definitely a top 10 broker.
That said, the website could use some sprucing up to join the current century. It could also stand to be more clear and easy to maneuver.