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Fidelity Investments customer reviews, complaints, service ratings, brokerage trading account pros and cons. Is Fidelity good and safe firm?

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Fidelity Investments Customer Reviews

by Wooten Epes, 2/11/2019

Pros: None

Cons: Money held unusable for a week.

They take money and do not allow it used for a week. A scam! Add up the thousands of accounts and they use our $ and we get paid $0.

by Jeannette Marie, 1/25/2019

Pros: Unfortunately there are non

Cons: Please see below

Phone call after phone call to attempt opening an account and moving an initial amount of $50K to be increased to $200K. Their online system continually did not allow me to log in instead requesting I call. Each and every time I spoke with a rep they assured me all was fine and I could transfer funds and begin trading. This never happened. Fortunately their system had yet another glitch and my funds were never transferred. The last person I spoke with stated the account had been closed with no reason or explanation.
"We do not have to give a reason and can close an account anytime with no notification".
Be forewarned and do business elsewhere.

by Keith bockmann, 1/23/2019

Pros: Make you lose hair if that's what you want.

Cons: They really truly are incompetent like others say.

They mailed my checks to the wrong address. Then after telling them AGAIN my address they said they would overnight the 5k check instead they spent 32 dollars to overnight a check for 40. They sent them to an address 4 states away! How are these people still in business? They cant even do a simple task I have to drive 1200 miles there and back to get my money because they literally cant figure out how to fix their problem.

by Micky, 12/27/2018

Pros: Low Fees

Cons: Really long telephone wait times

New Customer to Fidelity, needed to get my 2018 RMD, was told I could request it online but apparently this is not true. Every phone call takes at least 45 minutes on hold. Way to long for me I am switching to a company that cares about customer service.

by Matthew Lestina, 10/20/2018


Cons: arrogant, disrespectful of customers

Been with Fidelity for 20 years. I got annoyed at their exhaustive list of personal questions I must answer every time I called in. As a result, they sent me a letter stating that they are closing all of my accounts, and that they reserve the right to do this for any or no reason. Caveat Emptor!

by no, 10/5/2018

Pros: none

Cons: a lot, customer service, handling your money, secure communication

Three weeks ago I decided to open a trading account and change my current broker. So, I thought it will be easy like any other online broker Ally, E-trade, etc. But actually, it wasn't. My account was locked after a day. I had to call and I did. I called more than 10 times, every time for an hour behind a line, and every time everything was set to zero. I needed to explain the past phone calls with the previous agents. I faxed the requested documents more than 8 times. They never received it while I had the confirmation of the deliveries. I finally walked into one of their branches and handed over my documents. When I called the day after to unlock my account, they told me that things are moving in the right direction (not before giving a few minutes of summary where things were left off)and I should have my account is opened soon. An hour later, I received a call and they needed another document (they could have told me all in once). I faxed it. I called them the day after (an hour behind the line) and they told me that all the documents are somehow not readable and I need to send them again. Which is insane considering the precious agent confirmed they are okay. So, this is one of most insane and stupid experience I had with any bank accounts I had open with other brokers, Forex, etc.
Stay away from them

by John R, 9/16/2018

Pros: None yet

Cons: This company cost me a lot of money, time and frustration due to their incompentance.

I have a little over 7 figures invested with Fidelity and so we have a so called Portfolio Specialist (Matthew Faubion)
who is supposed to provide advice and review our portfolio quarterly. Well it's no secret the entire market has been on fire this year and Matt has made me ALMOST 1.4%! What a useless individual and company!!
We are currently shopping for a real wealth management company as I make much more than that with my money in two on-line banks (1.8%)! I would NEVER recommend this company to anyone and warn everyone I know to protect their money and stay away from these incompetent people!!!

by fidelity sux, 7/10/2018

Pros: Ned is still alive that old bag

Cons: abby and kathy worst managers

Fidelity is a green monster of pure hell. They hire kids out of highschool to give people advice and service. They have gotten so cheap that now it takes over 30 minutes to get a hold of a so called rep in the 401k world of la la la. Once you get there, you have to go through their stupid verification after being trf'd 3 times. I do not understand why all the cheap investors invest money with them. They are such a cookie cutter outfit that does not better than the market itself. Go to Vanguard and invest in cheap funds or their etfs.

by Rachel, 3/20/2018



I literally get more of a return on my checking account with my bank than I do with my 401k. Which is pathetic.

by Pau, 3/13/2018

Pros: Lot of options

Cons: Bad technology, things never work, poor service

As a Fidelity active trader, there have been times where I just cannot access the market. Fidelity will publicly never acknowledge their failing for fear that people will find out the truth. You have to contact their customer support, which itself is awful, to put in trades. What, this is not the 1990s. Stay away from them.

by Dan F, 3/12/2018



They lost, (deleted) my retirement account, it took Fidelity 5 months to find it, then gave me an incorrect amount. I told them it was too much but they insisted and verbally guaranteed it was correct due to a law suit settlement. Since I did not want to have any more problems, I withdrew the funds. A year and a half later they contacted me and said an audit detected the amount was incorrect and they wanted most of the money back. It seemed funny when I was trying to find my account, every time I called I had to talk to a different person. When they wanted a refund from me, they gave just one person to talk to. When I mentioned that maybe I should talk with my previous employer, they told me not to contact them because Fidelity was the company's retirement account manager.

by Dave F, 2/27/2018



I transferred my HP 401k account to Fidelity managed funds business January 2018. I discussed a strategy for minimal risk, and answered their question of Risk Tolerance with a 3 out of 10. That did not translate into what was purchased for me in my Fidelity managed account.

50% of my portfolio was invested in funds with a Morning Star risk rating of 6 which accounted for 85% of my loss! Why ask what your risk tolerance is? This is inexcusable on Fidelity’s part considering this is the exact situation that I wanted to avoid and specifically discussed with Fidelity.

Although promised the Managed funds person would contact me, that too never happened as promised. I was charged an advisory fee for this poor customer expectation management.

I closed the account.

by George lenkowitx, 2/27/2018



My investment was grossly mishandled by the all aspects of fidelity management. I would not recommend this company to anyone.
They cost me severe thousands by not properly investing my managed money in a timely manner.
Plus there is always a long waiting time on phone.
Since The error was totally a management error, they refused to recognize that gross mismanagement of my funds and correct their mistake. Therefor I am pulling all my money out if the company.

by Ben Fauk U, 2/23/2018

Pros: none

Cons: wont work with you. It is your money, you would assume that would mean something.

I might quit my company just to end my relationship with Fidelity.

by Drakkor, 2/16/2018

Pros: None

Cons: Idiots

Well, My employer uses Fidelity for our 401 k at work. I had some hard times due to medical issues and medical bills where I missed some work and got behind on my mortgage. I sent them ALL the paperwork three times for a small hardship withdrawal and they never contacted me saying they needed updated paperwork. I had to log on and hunt for the reasons that they never approved it ! Their own agent is the one that told me the amount was correct and SHE decided how much to request! I sent them the warning and DEMAND letter from my mortgage company and they say the amount requested is not right! Well, why don't they just adjust the damn amount then? They are playing games with me and they better pray to God that I don't lose my house over their BS. If I do, They WILL be sorry!

by Chuck Grandmason, 2/13/2018



Worst customer service I’ve ever experienced.
Reps are always nice but accomplish little except providing excuses for issues.
I have a traditional IRA and a Roth IRA, there are issues every year with deposits and moving funds.
In the process of deciding which investment company to move our accounts to.

by nk, 2/12/2018



This company lies to you and their customer service sucks. I had a managed Traditional IRA account, and I wanted to cash out my managed Traditional IRA account and move it to a regular Traditional IRA . I called on Monday and told them I want to do this. They told me it will take one day. By Friday nothing had happened and mean while I lost $4k. On Friday they told me it be done by next Monday. Well today is next Monday and nothing has happened. All I wanted was simple transaction.

by Bill McAndrew, 2/6/2018


Cons: Trumpian - autocratic

Long time customer -got obscure letter banning trading - cannot provide the services I require. Refuse providing a specific reason. Active Trader - Platform freezing so much - must have serious processing problems Schwab is far better- no fees re: ETF holding period.
0 replies 0 retweets 0 likes

by Bill McAndrew, 2/6/2018


Cons: Trumpian - autocratic

Long time customer -got obscure letter banning trading - cannot provide the services I require. Refuse providing a specific reason. Active Trader - Platform freezing so much - must have serious processing problems Schwab is far better- no fees re: ETF holding period.
0 replies 0 retweets 0 likes

by Perry, 2/6/2018

Pros: None

Cons: Website is terrible. I opened an account because I wanted better that Ally. WOW was I wrong. Fidelity makes Ally look really really good.

Stay away.

by stella, 10/5/2017

Pros: Some of the reps are kind but mostly are not.

Cons: Incompetent. Some of them and especially supervisors are rude.

Regret to be their customer. Going to move to E-trade

by W A Jones, 9/29/2017

Pros: Low prices. Lots of offerings.

Cons: Lousy online customer service.

I've had accounts with Fidelity for many years. Until recently, I didn't have any issues with them. Recently, I've noticed that their online customer service is a joke. No obvious way to contact them personally, although I've emailed and telephoned them in the past. Now all I get is the opportunity to type a question to some really stupid computer that seems incapable of understanding the question . They do offer the typical FAQ's section, but its extremely limited and I didn't see where I could ask my own question.
Why call it Customer Service if actually contacting them is so difficult and there is no actual "service"?
Just for fun, I googled Vanguard. Up popped all kinds of telephone numbers. Wondering if I shouldn't have stuck with them.

by CJ Williams, 8/22/2017



I am a disable military retiree who recently began working with a company partnered with Fidelity Investments (to provide their insurance). I told them from the beginning that I have insurance through the military. And when a short time later they pressured me again and told me they had automatically sign me up for it, I immediately call them to tell them that I don't want it and that I am not interested. A short time later I noticed that I was having money taken out of my pay check going to Fidelity. And then when the prescription medicines I need for my disability suddenly came with a huge charge (that had NEVER been there in the past), the prescription company said that my new insurance with Fidelity didn't pay it later me the military company, and that they were forced to use them since Fidelity had gone behind my back and told the company that they were my insurance even though I told them flat out that I DIDN'T want them. Well , when I called them today to discuss this they told me that it's too late to cancel the insurance (that I said from day one that I didn't want) and that I was stuck with them until 2017 when I could unenroll at that time. And when I said what if I didn't pay for the insurance, they said I didn't have a choice and that they would just continue to take it out of my check without my permission. Again, I am already insured through my military retirement! So now I'm stuck paying every pay check for something I don't want or need and now I'm forced to shell out a lot of money for prescriptions for combat related disabilities that had been provided for free with my other insurance that now I'm either forced to pay for or just to go without. While I guess I'm stuck in this very bad situation until 2017, but if they think I'm just going to roll over and take it, then Fidelity doesn't know me! I'm going to make sure that EVERYONE I can tell is warned about this DISHONEST sneaky underhanded company (Fidelity) using every source I van find (print and social media) and word of mouth. No one who knows me would ever call me a mean spirited or petty (or even a complainer), but I think Fidelity needs to learn not to mess with U.S. combat veterans and military retirees!!!

by Low Fees wanted, 8/7/2017

Pros: 4.95 trades on the back of high fees from employer plans

Cons: High Fees for Employer Accounts, High Expense Ratios

If you have a choice, stay clear of Fidelity. They are too expensive for employer spon plans and they know, you have absolutely NO options. We are being charged for 2-accounts quarterly for 1000s of employees. And, the expense ratios for the Mutual Funds are too high for funds that do NOT compete well. Mutual fund turnover rates are extremely high as well.

They will nickel and dime your retirement portfolio.

by Ted Cummings, 7/10/2017



Absolutely horrid customer service. I tried to deposit IRA rollover check only to be informed that my existing Fidelity IRA account had been closed without warning and without notice apparently on the same day that my IRA check arrived.

When I called back seeking some sort of explanation, the rep read out to me all of the brand new "notes" written into my account that same day which amounted to 'do not service this client' and 'do not provide him with further information'.

Very strange and very unprofessional.

by Jeffrey Semonian, 6/25/2017

Pros: The 2 Brokers that left voicemails both lied when they gave me a deadline to send in margin monies...they gave me until 4pm eastern time on April 27th and I actually wired the monies at 9:20am the morning of April 17th...they had just liquidated my shares CANCELLED my account...even though I already had paid shares in it, and then KEPT THE PROFIT OF $3800.


Fidelity treated me like a piece of dirt after closing my account, which by the way is still active and I have paid shares in it with an active account number. I cannot even sign in and see the progress of my shares. They lied to me when they gave me a deadline of April 27th, by 4pm eastern and when I sent the margin monies the morning of the 27th...they had CLOSED my account when SEC and FINRA regulations and Fidelity's own rules state the worse they can do is FREEZE YOUR ACCOUNT for 90 when the $8,575 I wired that morning hit the account they had just closed it AND THEY WIRED THE MONIES BACK TO ME. WHAT COMPANY SENDS YOUR MONIES BACK TO YOU? What company closes your account even though I have paid for shares in there and the account is actually active. I do not even have computer access to my account. They then stole my $3800 profit and I got a great fill on the XIV...and lost future profits of over $3,000. Sara Hogue, a very nice supervisor there said that my broker DOCUMENTED THE RECORD, that my deadline to send in margin monies was 4pm eastern the 27th. THIS IS TRULY RUTHLESS, unethical and yes, against SEC regulations. The people I wrote to said basically tough luck. One of the supervisors recently called me (and this is all recorded) asking me to "please take my business elsewhere and to liquidate the current stocks that I have") I contact many supervisors to get any email address of anyone and they all said THEY REFUSE TO GIVE OUT ANY EMAIL ADDRESSES!

by Roger Goddard, 5/31/2017

Pros: It was the "Go to site for clarity and Fidelity"

Cons: It has turned in to a Junk status operation concealing data

I have £190 K invested with Fidelity over 20+ years. I used to be able to see how much I had in a fund and if it had gone up. Now it is just a joke concealing performance data. Now all I want is to get out.
I have used Selftrade but that has now become pathetic. I might try Barclays.

by James, 5/8/2017

Pros: None

Cons: None

Tried to open an account on Sunday. Nothing but errors. Rep said tech would call today. NEVER HAPPENED. Called again today. Rep immediately blamed my computer. He then found out that there is a problem at Fidelity. At the end of the conversation he said try back in a week. How can I trust Fidelity with my life savings when the best a rep can say is Try back in a week? It's obvious they just don't care!

This is a total breakdown in leadership at Fidelity!

by Shanon, 4/18/2017

Pros: They are big on diversity and hire a lot of gay people at Tysons, VA location.

Cons: If you are not gay, they will find excuses not to help you and tell you to go on line. Take a gay friend with you who is a client and see for yourself.

The desk attendants are really sweet when tell you to go on line to find out more. They know exactly what they are not getting paid for.

by JCOHN, 3/20/2017




by nikhil agarwal, 3/2/2017

Pros: Easy to trade, all features

Cons: IPO is not transparent

"Hype vs Truth" - SNAPCHAT IPO. My experience at fidelity.

I had expressed my interest for the SNAP IPO (for the 6th time in 6th company) and they did not allocate me a single stock. When I contacted them to know the cause, they said they have an algorithm to select best customers with highest revenue, highest assets at fidelity. Which I didn't qualify. How can you compare assets of 29 yo individual to assets of a company or a 50 y.o. billionaire? Look at my YOY rate of return . You should qualify me based on return I generate. Why do you allow me to express interest first of all, if you think I won't qualify? It's a big scam. You are making rich more richer. At the end the representative asks me to put a limit order today - As if I am a fool, I will trade stock on first day when bear and bull both are highest and making the stock super volatile.

by IC, 1/16/2017

Pros: Good funds

Cons: Customer service is DISservice

Horrendous customer service. They made a mistake on a 401k distribution and acknowledged the error. However they are taking forever to correct it and in the mean time the problem is getting more compounded because of tax reporting and the calculation of the new years minimum mandatory distributions. I am helplessly waiting.

by Randy Smith, 12/22/2016

Pros: Well financed company with slick salesforce

Cons: Terrible website and online activity.

Too bad you have a large corner on the market. Your customer service is despicable and your IT services are even worse. Should we even mention your fund managers? Out of date and out of touch. Probably will find them on a beach somewhere laughing at their investors. Arrogant Fidelity!

by Thomas, 7/25/2016



I have spent 3 weeks and approximately 10 phone calls trying to transfer shares from one account to another. It is impossible to speak with the same person twice. I get letters requesting additional information, but the letter doesn't specify what information is needed. A reference number is in the letter, but when I finally get through to a live assistor, the reference number apparently means nothing to them. After considerable delays, each 'suggests' some thing I should mail or fax. They profess to not have email capability, and I don't have a fax machine. I did finally go to an office store, pay $24.50 to fax documents I had provided in the past by mail. It seems that when mailed, it is hit/miss whether the documents get associated with the correct account. By far the worst experience I've ever had with any financial institution.

by John, 6/2/2016



When I moved my IRA to Fidelity Investments I was told I would have a top level team of advisors to manage my IRA. Hogwash when they lost $37000 in the last quarter of 2015 - all I got from them when I called was a lot of double talk. They tried to explain that they have no control over the markets and that there are ups and downs. I did some research and found out that since my IRA was not in the quarter million dollar range my team was a bunch of 20 somethings out of college managing my $180,000 account. They were not moving with the market but trying not to lose a lot of money instead. Not once was I offered any kind of rebate on my fees for their service so I move elsewhere and are much happier with the new company. If you are thinking of using Fidelity Investments find someone else if you only have a small investment. They do not tell you the truth about who is handling your account.

by Wilbur Smith, 3/10/2015



On the phone I asked Fidelity for a roll over of the full balance of my 401K into another investment company's IRA. I was told the balance and that I would receive a check in that amount made payable to the new investment company. When I received the check it was short 12%. I called Fidelity to tell them it was a direct rollover and thus not taxable. I was told that it was a bookkeeping fee required by my prior employer (but retained by Fidelity). Think twice before you deal with Fidelity Investments!!!

by Jay, 3/2/2015


Cons: Fidelity's Active Trading Pro software stinks

Fidelity's Active Trading Pro software stinks! It looks like it was written in the 70s. Ugly (unchangeable fonts, barely changeable colors - how's black, white & blue?!). I trade foreign stocks - their software won't even give me the same information that their website does, much less stream it. They have nothing available for Linux users. It's amazing that such a large company could be so inept with their software. Their ATP software support has no chat; they don't pick up the phone...disaster.

by Wayne K, 2/25/2015


Cons: Account security problems

I have done business with Fidelity for more than 35 years. However, in the past 8 months our online accounts were hacked 3 times and Fidelity has provided no credible explanation how the online security of our (a) extremely strong login ID, (b) even stronger password, and the use of a hard token VeriSign ID Protection that generates a 6-digit random number (valid for only 30 seconds) were breached. Worse than the 3 cyber identity theft occurrences was the totally incompetent method Fidelity used to deal with the problems. They lost our account history and cost basis and refused to fix the accounting problems, they shut down our auto billpay and many of our bills went delinquent, it took them 10 days to notify us by mail that they locked us out of our account rather than call us into the local office to deal with the cyber security breaches, and after I filed a formal complaint with FINRA, Fidelity terminated my accounts.

by Jeb, 7/2/2014

Pros: No extra charge per share on penny/OTC stocks

Cons: No live streaming quotes

I've used Fidelity for a year+.
Their website:
For making a trade on US stocks, the website works. No panzy extra charge per share on penny/OTC stocks which is good.
The portfolio layout page is sorely lacking. Can't tailor/organize much eg. fonts, columns, colors, etc, etc
No live streaming quotes. You constantly have to refresh.
For international stocks, your options in trading are limited. ie No "Stop loss, trailing stop loss, Good til canceled", etc

Their Active Trader Pro software:
- It looks like it was written in the 70s. (no option to change the scratchy looking fonts, 3 ugly colors to choose from...)
- it doesn't show stock information on international stocks period. Something the basic website does.
- no option for it to work on Ubuntu/Linux computers

In short, any broker that can fulfill these major weaknesses in my opinion, has my attention.

by john zambrano, 11/26/2013


Cons: indifferent and slow workers

just had the same thing happen to me I'm transferring as well could not even get a manager to take my call !

by Gurpreet, 11/26/2013


Cons: too many errors

it sucks, too many false errors. they placed a false margin call on my account and did not remove it for 4 days even after i called them. They just kept saying it takes 48hrs for the request to go through. Go to schwab, it is much better and you will be thankful.

by Henc, 11/26/2013


Cons: rude staff, company had stolen money

Last month I performed a simple transfer of cash from my IRA account to my checking account which I do on a regular basis. Some how Fidelity's trading system sold all of my FB shares and transferred the entire proceeds to my checking account. When I complained to Fidelity they said it was exactly what I requested. They refused to allow me to speak with their security department and were quite rude._I have reported the same to the SEC who is investigating at this time although Fidelity's response to the SEC was that the transaction was what I requested. Although Fidelity has offered no proof of the actual command inputs to their trading system and subsequently the SEC told me that I would have to contract a lawyer to pursue it further._Has anyone else had a problem with incorrect online transactions, glitches in the Fidelity online trading system?_If so please contact me at Herc

by Mike, 11/26/2013


Cons: Charting system is not up to date

Love Fidelity but unfortunately they are behind in their charting system within the ATP platform compared to TOS and others. Charting tools, trend lines, chart types options are not up to date.

by John Sheppard, 11/26/2013

Pros: wide range of offers, always accessible, very polite and skilled specialists

Cons: a little high trading fees

I have been with Fidelity for 22 years and still satisfied. We have the following:
1) 401K
2) IRA, SepIRA, Roth IRA
3) 529 Plans for all of our children: paid for 16 years of college
4) Brokerage investment accounts
5) Option trading investment and, yes, retirement accounts
6) Corporate accounts
7) Charitable account
8) DRIP plans with free dividend reinvestment
9) Joint accounts and UTMA accounts

It is hard to beat Fidelity. The phone is always answered immediately after I enter the code and password. Always. Maybe because we have over $1 million with them, but they were always accessible even when I was just starting out.

The option trading fees are a little high, but I often sell or buy to open at a better price than my limit order!

They do a good job on fees for microcaps with 10,000 shares for example, but costs higher for foreign exchanges.

I can buy stocks on just about any foreign exchange, albeit at higher costs.

Some mutual fund families are not no-load and therefore expensive, but there are so many with similar track records that we are not missing any investment strategies.

Professionals may like faster, cheaper, fancier, but for average investors who want everything in one place, use Fidelity.

by Elliot J. Stamler, 11/26/2013

Pros: quick, helpful, courteous with a huge range of services.


I've been with them a bit over 4 years and find them the best of the 5 brokerages I've used. I don't understand these carping criticism..I've found Fidelity to be quick, helpful, courteous with a huge range of services.

by Ken Lazerberg, 11/26/2013

Pros: quick e-mail response


You have to expect that with many financial firms. Call during the seriously off hours and you'll get someone pretty quick. Also, when I have a single questions, I always send an email. I'll get a response and I'll not waiting around.

by abigal johnson, 11/26/2013


Cons: veyt slow

I hear you the same is happening to me. They gave me special number 800-544-4442 referred as Fidelity PREMIUM Services. My hold time with a specialist now less than 45 minutes.

by Been There, 11/26/2013



Have you contacted Muriel Siebert & Co.? Excellent customer service, lowest rates for mutual fund trades, negotiated commissions available for equity and option customers and the phones are answered promptly.

by josh, 11/26/2013


Cons: non-professional reps

have been with them for 17 plus years. They have all my money. I am leaving because I am tired of being on hold with therir so called professional reps who have made several mistakes and being nickled and dimed to death. Unfortunately I have to leave my business service and 401k with them.

by Rudy, 11/26/2013

Pros: quick and helpful chat support


I dont know why there's so many bad comments about Fidelity. I just started investing about a year ago and i never had a problem with fidelity. I dont know much about calling and being on hold because If i have any questions i use the live chat support and they're really quick and helpful. The longest time i had to wait was 8 minutes. People are so damn NON patient these days and expect everything to be quick. Anyways, fidelity is great and i would never switch to any other brokerage company.

by John, 11/26/2013

Pros: great company

Cons: none

Fidelity is a great co. Usually day traders complain the most. The reason is they're probably losing $.. Instead od trying to pick the next big stock move why not buy the entire mkt.? Ex. Spartan Total Stk. Mkt. Index Fund. for US holdings & hold for the long term reinvesting div.

by Jim, 11/26/2013


Cons: slow and unskilled staff

Fidelity had me on hold for 25 min. yest. and 1/2 hr. today. Trying to get ahold of someone to trace my lost check.
Waste of my time!!!!!!!!!!!

by Ankinchandra, 11/26/2013


Cons: very slow service, expensive

I found numerous issue with Fidelity ONLINE Trading.
1) When I place order to sell stock or option, I do not find selection of "All or None". Something Fishy.
2) Be aware of margin, Balance may not indicate that you are under margin call or short in funds, but according to Fidelity guide line they may sell your shares with Hefty commission to cover margin that you may not have any Idea.
3) Wrote a calls on shares and sold the call, when I buy back that call customer should be able to sell their Shares. But I could not place order.
These are the issues I cam across. There may be more!!!!!
Issues like these I have to ask rep to place an order for me and it takes between 15-45 minutes.
I am tired and fed up with issues and they not cheap, I am running away from Fidelity.

by Disgruntled, 11/26/2013


Cons: terrible customer service

I will NEVER refer anyone to Fidelity. I was referred to Fidelity because I was told it was a great service as a new investor. I was told I would get so many free trades/time frame, but that was false. Once I signed I was informed i need to have at LEAST $25000 in the account. As I am speaking to these people over the phone, my customer service agent was terrible. Extremely rude and condescending. I have 1 account opened with them and as soon as I sell, I will be switching to Scott Trade.

by Ingrid, 11/26/2013


Cons: very high fees and expenses

I have been investing my IRA and non-qualified investments with a small financial advisor firm for 23 years. I just learned that I am paying very high fees and expenses. Now that I am closer to retirement and the ROI has been much lower, I want to make a change.
I have interviewed both Fidelity and Charles Schwab. The advisosr at C.Schwab suggests a 5% ROI based on historical data from 1970-2010 for a moderate conservative portfolio. Is that realistic for 2010- 2040 ?
I do not think that I am able to self-direct my own investments. My question is if I should go witha larger firm or find a more ethical smaller firm whith lower expenses ? Having read some of the comments here and for the Fidelity Reviews has me wondering about the Customer Service of these firms.

by Penny, 11/26/2013

Pros: improved website, very low options contract cost


I've been with Fidelity for about 10 years. I like the improvements they made to the website over the last few months. I primarily use their for trade submissions. It is a lot better than the basic Fidelity website. The two are integrated. There are capabilities on that do not exist in their desktop application. Their options contract cost is about the lowest of any that I've found. I really like ThinkOrSwim and Trademonster but am concerned about their Clearing House (Penson). I keep small account with each of them so I can use some of their analysis tools.

by Ron, 11/26/2013



Thanks for replying, 41p.

Well, I would feel kind of bad doing that. (Since I wrote this, I've played around with all the others and actually opened accounts at ETrade and Scotttrade. Having a big hassle with ETrade which I will detail in their review comments. Scotttrade fine, ditto comments).

The whole purpose of this exercise is to find one shop shopping; a place where I can research and invest on one platform. Now I'm zigzagging around between 4 or 5 sites to get the info I need. I do have an IRA brokerage account with Vanguard which is suitable for that portfolio, but I need a taxable brokerage to invest RMD money, buy MLPs (not good in an IRA) and a place to put some other taxable funds to work. Even though I get $7 trades, Vanguard's crude research tools are not up to that task

I've gotten more comfortable with Fidelity's tools and research and they are not probably, but definitely, far superior to anything else out there for us non-professionals. Next, surprisingly enough, is ETrade, in my opinion. Great format, easy to use, lots of information.

"But most people don't do much research" ?? I don't quite agree with that. I've been self-researching my portfolio of stocks and mutual funds for many years now, and I haven't done too shabbily. I don't think I've done any worse than the "professionals." Up to now, I'm a dividend growth investor and don't do a lot of trading or speculating. Therefore, that narrows my scope considerably so I can concentrate on a smaller segment.

Enjoy your side and feedback.

by Dave, 11/26/2013



Why is Fidelity closing the purchase of to many of the better (not closed to new buyers) Morningstar rated non-Fidelity funds?

by Dave, 11/26/2013



Why is Fidelity closing the purchase of to many of the better (not closed to new buyers) Morningstar rated non-Fidelity funds?

by Ron, 11/26/2013

Pros: imazing research. good customer service

Cons: slow website, high commissions

I have an IRA brokerage account with Vanguard, which is satisfactory @ $7/trade, on-line or broker assisted. However, I need a taxable account for MLPs, also as a spillover for my RMDs which I have to take this year.

I'm looking for a brokerage which has some decent research tools. Vanguard's, to be polite, is crude at best. I went to the Fidelity site and was impressed with the research they offer. I was disappointed to read all the negative comments here, however, particularly with regard of their site slowing down during peak periods. Now, it's a Sunday afternoon, so I'll try during the height of the trading day tomorrow and see how it is.

As far as customer service, that's in the eye of the beholder. Some people require more attention and are more critical than others. I have read many comments slamming Vanguard's customer service, which I find acceptable overall.

Finally, I wish Fidelity's stock commissions were lower. Although, for the 10 trades or less a year that I do it's not a deal breaker. Their broker assisted fees are onerous, however.

by Pradip, 11/26/2013

Pros: wonderful advice, helpful reps

Cons: quite high fees

I have been Fidelity customer may be over 20 years now. I will say I am a well satisfied customer, and never had a problem of any of the kind the critics have expressed here. I trade stocks and options averaging probably one trade a week. Their fees may not be the lowest in the industry, but they are not too far off from the lowest to be upset about. I must specially mention that on retirement related matters I have found their advice just wonderful which helped me plan things a whole lot better in a short time; it amazed me that my CPA could not provide such crisp actionable advice.

by Larry, 11/26/2013



Think MF Global. You don't want to get MF'ed Globally.

by Larry, 11/26/2013

Pros: good iPad app

Cons: hard to navigate their site

They have a good iPad app. Its easier to trade with than using their website. Its ok for swing trading but I wouldn't want to try to day trade with it. Whoever designed their app should redo the website. The review is spot on about the website. There is a ton of good information and research available but its hard to navigate their site.

by Randy, 11/26/2013


Cons: terrible company

I have to say I was a buy and hold investor and they were absolute garbage for that as well. They should be avoided at all cost, a terrible company!

by X-Fidelity Custome, 11/26/2013


Cons: very slow service

I totally agree. I have had numerous phone calls and e-mails to Fidelity to resolve problems with their new and so called improved online format. They are still debugging it, and saying they need more time to resolve it. They should have done that before going live.

by disgusted Client, 11/26/2013

Pros: NONE



by anonymous, 11/26/2013

Pros: website is already easy to use,competent English-speaking reps

Cons: more cluttered than before

I have been a Fidelity customer over 15 years now. I used to find the web site easy to use and intuitive, but they have REDONE THE WEBSITE as of last Thursday. Beware, all the comments about the web site are probably no longer applicable.

I'm still trying to decide whether I like it or not. If I had to say today, I'd say not - it's more cluttered than before, and the layout is not what I would have chosen. Also, it takes many more clicks to navigate to a different account page than before. (This would not be an issue if you had only one account, such as a single IRA or a single investment account). Real time quotes are now SLOW since the revamp.

I came across this web site wondering what else was out there.

On the plus side, if you call customer service, you do get an American who speaks competent English. The quality of support varies depending on which representative you get, from disappointing to mind boggling awesome. Luck of the draw!

by anonymous, 11/26/2013

Pros: website is already easy to use,competent English-speaking reps

Cons: more cluttered than before

I have been a Fidelity customer over 15 years now. I used to find the web site easy to use and intuitive, but they have REDONE THE WEBSITE as of last Thursday. Beware, all the comments about the web site are probably no longer applicable.

I'm still trying to decide whether I like it or not. If I had to say today, I'd say not - it's more cluttered than before, and the layout is not what I would have chosen. Also, it takes many more clicks to navigate to a different account page than before. (This would not be an issue if you had only one account, such as a single IRA or a single investment account). Real time quotes are now SLOW since the revamp.

I came across this web site wondering what else was out there.

On the plus side, if you call customer service, you do get an American who speaks competent English. The quality of support varies depending on which representative you get, from disappointing to mind boggling awesome. Luck of the draw!

by Seeker4, 11/26/2013



I've been searching for a very good investment/brokerage firm for weeks. I have a buy and hold strategy for mutual funds, but am interested in some stock trading. However, on almost every forum I've read about every brokerage I read very similar complaints from investors--from mild criticism to strong hostility. None of the well-known firms receive good reviews except in cases where the investor has little or no regular contact (buy and hold) with the firm...and what a shame! I'm almost out of ideas of where to turn to find a good firm, but I'll continue to search.

by John, 11/26/2013

Pros: good research, good customer service, good trading

Cons: weak performance info

I've had a fidelity brokerage acct for 20+ years. Research is good, customer service is good, account info is ok, trading is ok, performance info is weak. Overall I give them a solid average. I keep some of my funds with them since I believe strongly in brokerage diversification.

by fgdfg, 11/26/2013



John, why would you recommend brokerage diversification?

by Beth, 11/26/2013

Pros: good trading platform

Cons: high commissions

I've been with them for 15 years but they are not keeping up with the times. Their trading platform is just ok. Their lowest commission rate is too high and now all their cost data and realized sales info is wrong for 2012. Very frustrating!

by Burned By Fido, 11/26/2013


Cons: bad trading platform, bad technical support, inefficient staff

I have been dealing with Fidelity for over 20 years. Most of that time my assets were held in Fidelity Funds and held long term with little trading. A year ago I began to trade equities very actively, generating close to $50,000 in commissions. I am sorry to say I have now left Fidelity because a.) their trading platform, acivetrader pro, is dated -very dated - and full of bugs. Technical support is an absolute joke, with no mechanism to get an answer for urgent problems. Instead, everything is put in a queue (read black hole) with no response to the customer regarding resolution - ever.

Fidelity is an excellent company for the buy and hold investor or funds investor. For active traders it is an absolute joke. The representatives try hard, but can do nothing in many cases to resolve even minor problems. And, oh yes, don't try to trade with a representative in the after hours market. Despite the fact that it is disclosed nowhere, you can only trade after hours online, not with a representative, even if the creaky software isn't working (and with active trader pro, you can't use ARCA for odd lots - though that's a bug that will be fixed "sometime, maybe").

I would challenge the reader to find a positive review of Fidelity's active trading software or support by an actual living customer who has used the sorry product for more than a week.

by jack, 11/26/2013



They did below average in their managed accounts, losing 3% to4% more than other investment firms.

by alan k, 11/26/2013

Pros: professional broker


free etf trades and active trader pro>> need i say more

by RippedOffByFidelit, 11/26/2013


Cons: bad advice that caused loss of money

Fidelity is HORRIBLE when it comes to Roth Conversions. They don’t have a clue as to what they are talking about. Their bad advice cost me an estimated increased tax expense of $10,000 to achieve the same conversion amount. The tax law is fairly straight forward but the representatives at Fidelity don’t understand it. Because of their advice I rolled over my 401k before doing the conversion. That was an irreversible transaction that immediately gave me one of two bad choices: Convert less money to the Roth (and have a lower benefit of tax free growth in retirement) or pay $10k more in taxes over the next two years.

When I confronted them about it all I got was the runaround. Basically “tough luck.” Then they fall back on the “we don’t give tax advice”, yet their investment advice has SERIOUS tax implications. Ridiculous.

I called T Rowe Price and TD Ameritrade and they both seemed to understand it. It’s too bad, I loved Fidelity until they cost me $10,000 now or even more later. I would definitely recommend using a different brokerage house if you’re shopping around. I’ve moved all my money to T Rowe Price.


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Fidelity Investments reviewed by former and current clients. Fidelity Investments customer reviews: 76. Rating: 2.