Fennel.com Review: Key Takeaways
• Fennel Financials LLC is a new broker-dealer that lets you trade securities through a mobile app.
• Fennel does not give investment advice, manage portfolios, offer cash accounts, or do financial planning.
• Fennel is watched over by several regulators in the securities industry.
If you found Fennel online and are considering opening an account, you’re in the right place. We did a lot of research, and here’s what we found:
History of Fennel Brokerage
Fennel Financials started in 2022 with a goal to “drive positive change and create a more sustainable future” in the brokerage world. This shows Fennel is focused on certain values. The company gives its customers ESG data and information about shareholder voting, along with its trading app.
B Corp Status
Fennel is B Corp certified, which means B Lab has tested the company’s social, business, and political practices. These tests include:
- Commitment to serving stakeholders, not just shareholders
- Looking at Fennel’s effect on workers, the environment, customers, and the community
- Seeing if Fennel fits B Lab’s Theory of Change
B Corp certification doesn’t say anything about Fennel’s performance as a broker, but it does show Fennel is a real company. Fennel has had this certification since 2023.
Is Fennel Investing Safe?
Along with being certified by B Lab, Fennel is closely watched by U.S. securities regulators. It is registered with the Securities and Exchange Commission as a broker-dealer (since 2022), with SEC number 8-70779. It is also registered with the Financial Industry Regulatory Authority (FINRA) with registration number 316281.
On Fennel’s BrokerCheck profile, there are no disclosures. This is mostly because Fennel is new and hasn’t been around long, not because of business performance.
Fennel is allowed to do business in all 50 U.S. states, Puerto Rico, the District of Columbia, and the U.S. Virgin Islands. Being registered does not guarantee skill or reliability, but it means regulators are watching the firm. This oversight gives clients important protection.
Fennel is not an investment advisor, because it does not manage accounts or do financial planning.
Clearing Firm
Fennel uses Apex Clearing Corporation to handle its back-office work, including keeping client assets safe. This is a very important role. Like Fennel, Apex is registered with the SEC and FINRA (with numbers 8-23522 and 13071). Apex has been in business since 1979 and works with many other brokerages, so it is well-known in the industry.
Is Fennel Investing Insured?
Fennel accounts are protected by the Securities Investor Protection Corporation (SIPC) up to $500,000 (not counting losses from market decline). Through Apex, Fennel also has extra SIPC insurance for accounts that are larger than this amount.
Fennel Brokerage Reviews
Fennel does not yet have reviews at Trustpilot or the Better Business Bureau. We will update this if that changes.
Is Fennel.com Safe Judgment
Fennel is a real company working as a broker-dealer. There are several safeguards for its clients, but remember that investing in securities always has risks. Now let’s take a look at Fennel’s trading features.
Fennel Review Highlights
• Fennel offers securities trading through a mobile app only.
• There are no commissions at Fennel, but the broker does charge a monthly fee.
• Fennel does not accept payment for order flow (PFOF).
Overview of Fennel Trading
Fennel is a new brokerage firm. With its simple mobile app, customers can trade stocks and ETFs. However, many other services are not offered. Here are the details:
Investments Choices
At Fennel, you can trade stocks and ETFs through self-directed accounts. There is no investment advice or financial planning, and other types of investments like bonds and mutual funds are not available.
Cash Management
Fennel does not have any major banking features. You can connect an outside checking or savings account for ACH transfers.
Opening an Account
Fennel only offers one type of account right now: the individual taxable account. There are no joint or tax-deferred accounts, and you cannot add a beneficiary.
To open an account, download the Fennel app. Sign in with your email, and you can try the app for 7 days. If you want to start live trading within those 7 days, tap the button at the bottom and provide all the required information. Right now, only U.S. citizens and non-professional traders can open accounts.
Fennel Trading Software
You can trade and do research only through Fennel’s mobile app. The website is for information only and does not have a login. There are no other platforms.
When we tried the Fennel app, we found it easy to use. At the bottom, the main menu has five icons:
Portfolio:
Here, you can see details about your account, like your positions, average ESG score, and market-cap breakdown.
Watchlist:
This tab lets you make and view different watchlists.
Explore:
On this tab, you can browse different investment categories. Just scroll and tap on a sector. Some examples are:
- Cybersecurity
- Outer Space
- Infrastructure
- Consumer Staples
If you select a category, you’ll see each stock’s profile. Basic info is given, like market cap and industry. There are news articles and analyst ratings. Each stock has an ESG score. There is a chart at the top, but it cannot be rotated and has no extra tools. There is also a trade button at the bottom to place an order.
Voting:
This section gives info on executive decisions at various companies.
Profile:
Here you can adjust the app’s settings.
Pricing Schedule
Fennel charges $4.99 per month for its service. If a monthly payment fails, there’s a $4 fee. There is no minimum deposit required, and trades have no commissions. An ACAT outgoing transfer costs $75.
Margin Service
Fennel does not have margin accounts. All trades are made with cash only.
Security Research
Fennel focuses heavily on security research, especially ESG (environmental, social, and governance) topics. The app has a lot of information on companies.
The Voting tab shows past shareholder votes on topics like executive pay and worker social responsibility.
A stock’s profile page has three main tabs (under the chart): News, Analytics, and Impact. News shows articles from many sources, each with a thumbnail image.
The Analytics tab has many financial statistics from company reports, like EPS, revenue growth, and book value per share. Some data is shown in charts. At the bottom, you’ll see analyst recommendations and average price targets.
The Impact tab shows a company’s ESG score. For Apple, we found a score of 45, which is low by ESG standards.
Miscellaneous Services
DRIP Service: Unknown at time of publication.
Individual Retirement Accounts: No IRAs are available at Fennel.
Initial Public Offerings: Unknown at time of publication.
Fractional Shares: Fennel only offers whole-share trading.
Fully-Paid Securities Lending Program: Not available at Fennel.
Extended Hours Trading: Unknown at time of publication.
Our Recommendations
Mutual Funds: Fennel does not offer mutual funds, but Firstrade does.
Long-Term Investors and Retirement Savers: Fennel does not have tax-advantaged accounts, so it is not a good fit. Charles Schwab offers these, as well as investment advice, branch offices, annuities, and more.
Beginning Investors: Fennel does not provide paper trading, robo accounts, or financial help. We recommend Schwab, which has automated accounts, simulated trading, full-service advice, and more.
Active Stock Trading: Fennel can be used for frequent trading of stocks, but desktop users are left out. Advanced features like Level II quotes and technical analysis are not offered at Fennel.
Small Accounts: Because Fennel charges a monthly fee, it’s not good for small investors. Robinhood is a better choice.
Fennel Investments Review Judgement
Being a legitimate business does not always mean being a top broker. Fennel still has a lot to improve if it wants to compete with the best brokerage firms in the U.S.
Updated on 6/20/2025.
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.
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