Fidelity ACAT Fee
Fidelity ACAT fee is $0 for full and partial account transfer (mutual funds, stock positions, and ETFs). There is also no ACAT transfer fee
for all IRA accounts: traditional IRA, ROTH, SEP, and SIMPLE IRA.
If you decide to cancel your retirement account, Fidelity does not have an IRA account closing
fee.
To learn how to move your Fidelity Investments account to a different broker,
read this article »
Fidelity Wire Transfer Fees
Outgoing wire transfers at Fidelity are $10 per transfer online, $15 through a representative.
Incoming wire transfers are no charge.
Fidelity Comparison
Does Fidelity Reimburse Transfer Fee?
Fidelity will cover an INCOMING ACAT account transfer fee charged by your current broker, but
only if an account that you are moving has at least $25,000 in assets.
Some brokerages, however, offer reimbursements of other brokers transfer fees for account balances as low as $2,500. While the average ACAT transfer fee is around $75,
TD Ameritrade offers up to $125 ACAT reimbursement if you transfer an account
with at least $2,500 to them.
Fidelity Pros
Fidelity Investments selection of financial products, combined with 24/7 customer service, gives the broker an edge over other brokers.
Firstrade, for example, doesn’t offer 24/7 customer service; and Webull doesn’t offer robo-advisor.
Fidelity clients can access bank accounts, retirement products, equities, fixed-income all with one log-in.
The vast majority of brokers don’t have such a wide variety, TD Ameritrade being a rare exception.
Fidelity Cons
Fidelity touts its advanced trading platforms, but limits them to active traders. TD Ameritrade, in comparison, has no such requirements for its
advanced platforms.
Fidelity’s standard commission on mutual funds of $49.95 is higher than at both Ally Invest and
Firstrade, which charge $9.95 and $0 respectively.
In 2001, the broker had a variable commission schedule that started at $20 trades. It took a million dollars in household
assets to get the rate down to $8. But in 2010, the broker switched to a simpler flat-rate system for all clients. The new
commission was just $8, and it was big news.
The most recent move by the broker has changed standards in the industry yet again. Traders are going to expect a lower level
of fees for all types of transactions in the future. Firms that were once viewed as cheap now look overpriced.
This is exactly how Schwab felt after Fidelity announced its new commission. The broker immediately responded by lowering its equity commission
to Fidelity’s level. It also matched Fidelity’s option commission.
Non-Fidelity mutual funds can be purchased at the broker for $49.95. Selling mutual funds is free unless a customer
sells within 2 months of purchasing - then Short Term Trading Fee of $49.95 applies (does not apply to Fidelity family funds).
Fidelity does seem to have the advantage when it comes to its mobile
app, because having just one platform makes it easier to know which one to use. TD Ameritrade's offering of three apps is a little cumbersome, although
sophisticated traders might prefer the advanced level of trading technology on the thinkorswim platform.
Fidelity recently lowered its commission to $0; and TD Ameritrade has done the same. Frequent
traders would probably be better off with TD Ameritrade.
Fidelity ACAT Fee Disclaimer
For the most up-to-date information on Fidelity ACAT fee (partial and full Fidelity account transfer out, ACH and wire transfer charges, ACAT
eligible status) visit their website.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
|