Fidelity Minimum Deposit Amount
| Fidelity minimum investment to open brokerage account | $2,500 in cash and/or securities |
| Fidelity minimum amount to open brokerage margin account | $2,500 in cash and/or securities |
| Fidelity minimum initial deposit to open ROTH IRA, Traditional IRA, Simple IRA, or SEP IRA | $2,500 or $200 per month for ROTH and Traditional IRA |
| Fidelity minimum balance requirement for brokerage or IRA | none |
Fidelity vs Competitors
Fidelity Account Types
- Saving for Retirement
- Rollover IRA
- Roth IRA
- Traditional IRA
- SEP-IRA
- Inherited IRA
- Self-Employed 401(k)
- SIMPLE-IRA
- 401(k) Plan for Large Business
- Managed Accounts
- Portfolio Advisory Services
- Saving for Education
- 529 Account
- Custodial Account
- Charitable Giving & Estate Planning
- Fidelity® Charitable Gift Fund
- Fidelity Private Foundation Services
- Trust
- Estate
- Non-Trust Fiduciary
- Annuities and Term Life Insurance
- Tax Deferred Annuities
- Income Annuities
- Term Life Insurance
Fidelity Mobile App Overview
Fidelity's website has more features than their mobile app, especially when it comes to research. The app has fewer analyst reports for stocks, and charts on the website have more
technical indicators compared to the mobile app.
Trading and Charting on Fidelity App
The Fidelity app has the capability to trade stocks, ETF's, options, and mutual funds. Trades can be placed from a watch list or a current positions list. Entering a ticker symbol or company name in the search bar also produces a trade button. Tapping on the word 'Trade' automatically produces a simple trade ticket, which displays a real-time price quote. The ticket can be reviewed before submitting it to the exchange.
On a stock's information page, tapping on 'Option Chain' displays current put and call prices for derivative contracts. Various option strategies such as straddles, iron condors, and strangles are pre-programmed into the app. Tapping on an option price displays a trade ticket. Traders can search by strike price and expiration date.
Charts are available for stocks and ETF's. A graph can be shown in candlestick, bar chart, area, or line format. The chart rotates when the device is held horizontally. The graph range can be set up to 20 years, with a trade frequency of 1 minute or higher. A simple or exponential indicator can be shown the graph, with volume below the chart.
Fidelity App Versus the Competition
The Fidelity app falls short in some areas, compared to the mobile platforms of some other brokers. For example, the Fidelity app doesn't have paper trading.
OptionsHouse and TD Ameritrade do have a practice platform integrated in their mobile apps. Fidelity's app also has no charting for mutual funds. On Schwab's app, a chart can be displayed for a mutual fund's price action. Furthermore, option chains are not very customizable on the Fidelity app. Mobile traders with OptionsHouse can customize the columns in option search results to display criteria such as open interest, volume, expiration date, and standard deviation. The Fidelity app doesn't have such capability. Vanguard's and E*Trade's apps have video libraries on financial topics that users can watch, whereas the Fidelity app has no such videos.
Charting on Fidelity's app is also rudimentary. TD Ameritrade mobile app, for example, has countless technical indicators that can be added to a chart. The Fidelity app only has two technical indicators: simple and exponential moving averages.
Fidelity's app does have several advantages compared to some of its competitors. Vanguard's app, for instance, has no option trading capability. The Fidelity app has a customer service contact, whereas other brokers, such as OptionsHouse, don't provide a method to contact customer service. Furthermore, there is live streaming of Bloomberg financial news in HD on the Fidelity app free of charge. Schwab and TD Ameritrade provide streaming of CNBC in standard definition, while E*Trade clients must meet frequent trader requirements or pay a fee to receive the service. The Fidelity app also has mobile check deposit, a useful feature, but it's missing on Scottrade's app.
Awards
The business newspaper Barron's awarded Fidelity 4½ out of 5 stars, which made it the highest ranked on-line broker in 2021. The publication mentioned that Fidelity
has made improvements in options trading, including a single charge for multi-leg trades, which most brokers don't offer.
Fidelity Minimum Investment Summary
Fidelity has a very good mobile platform that can be used for a variety of investment purposes. With the broker's $0 trading commission, Fidelity
is hard to beat.
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