Fidelity Paper Trading
Fidelity does not offer paper trading (also known as simulated or virtual trading) service (not even
on its Fidelity Trader+ platform). For a completely free virtual trading account, learn about
Charles Schwab Paper Trading.
Free Charles Schwab Paper Trading
Fidelity Overview
Fidelity Investments (member of SIPC) is a low-cost broker that manages to deliver
above-average services. Going beyond traditional stocks and bonds, the brokerage firm offers a large selection of funds, advanced trading tools,
a robo-advisory service, cash management features, and more. Let's see how the firm performs in major categories, and what are its major
strengths and surprising weaknesses.
ETFs
The Fidelity website has an ETF section that displays many helpful tools. These include videos, webinars, and articles that overview exchange-traded funds. They are organized by skill level. There is a comparison tool that presents up to five ETFs side by side, analyzing such issues as expense ratio and price performance.
Another useful ETF tool is a search-by-stock feature that allows the user to input a stock symbol and find ETFs that invest in the equity. Searching by Meta Platforms (META), for example, returns IYW, the iShares U.S. Technology Fund, among other ETFs.
There is also an ETF screener available. It can search by many criteria, including volatility, past performance, analyst ratings, investment
philosophy, and number of holdings. Results can be sorted by these and other variables. Results can also be printed or downloaded as an Excel
file.
A fund's profile page at Fidelity.com has very extensive information on it. Holdings are shown, along with a chart, trade data, geographic breakdown, and top holdings. There are also free research reports available in pdf format.
Mutual Funds
Fidelity also provides tools for mutual fund investors. Fund Picks From Fidelity are mutual funds that are pre-screened by the broker. These
securities must meet certain criteria in order to appear on the list. The standards include three-year performance and no transaction fee.
Currently, there are 411 of these products.
The broker's mutual fund section has links to articles that cover a range of mutual fund topics, such as basic introduction on funds to types
of funds that can be traded.
Fidelity's mutual fund screener returns 11,053 securities that are available for purchase by new investors. This is a large selection.
Slightly more than 3,700 funds have no transaction fee. Unfortunately, the Fidelity search tool doesn't have the ability to look for no-load
funds. Approximately half of the 3,700 have no load. That's around 1,900.
A mutual fund's profile page on Fidelity's website hosts some very useful data, including Morningstar ratings, minimum investment amount, and hypothetical growth of $10,000.
Fidelity manages its own lineup of mutual funds, and each Fidelity fund has detailed information posted on its profile page, including a
commentary from the fund's manager.
Customer Support
A Fidelity associate can be contacted over the phone any time of the day or night, 365 days out of the year. MyVoice is a feature that customers can enroll in to bypass the need for a password or PIN. Different Fidelity departments have their own phone numbers, which is a good thing if you want to talk to the right person. Some examples include portfolio advisory services, retirement, charitable planning, and international trading. The Fidelity website also has a feature for clients who prefer the broker to call them.
The broker's website has an online chat feature for customers who prefer to use the Internet. Fidelity also has the Fidelity Assistant that can answer some questions, although it struggles at times. Internal messaging is another route that can be used to communicate with the broker.
Fidelity operates a nationwide network of branch locations, with at least one location in most states. These offices are open during the weekday, although appointments outside of these hours can be made. Currently, there are more than 190 locations. The brokerage house also has a long list of global phone number for customers who travel outside the U.S.
IRAs
Fidelity does a good job of offering a wide selection of financial services, and so retirement savers have good resources at the broker, including several IRAs. These comprise Roth, Traditional, SEP, SIMPLE, Rollover, Inherited, and Roth accounts for minors. Fidelity does not charge any annual fees for Traditional, Roth, SEP, and Rollover IRAs. SIMPLE IRA plan fees can depend on how the plan is set up. There is no minimum required opening deposit for any account, and a $50 account closeout fee may apply. Several broker-dealers have eliminated IRA termination fees. Vanguard is one example.
The Fidelity website has many articles that cover a variety of retirement topics. These include 401(k) rollovers, IRA contributions, required minimum distributions, and more. There are also calculators that can evaluate important retirement issues, such as choosing between a Roth and a Traditional, estimating Social Security Benefits, and figuring how much to save each year prior to retirement. In total, there are twelve calculators, which is more than most brokers offer.
Financial Advice and Managed Accounts
Besides self-directed accounts, Fidelity has investment advisors who make trading decisions for clients in return for a fee. Depending on the service selected, advisory fees range
from 0.35% up to 1.50%. The major competitor in this area, Charles Schwab, provides robo-advisory investing
completely free.
For 35 basis points, customers can use Fidelity Go. There is no minimum amount required to open the account, although at least $10 is needed before Fidelity will invest the money. Balances under $25,000 have no advisory fee, while balances of $25,000 and above pay 0.35% per year. A step-by-step questionnaire at the start of the program determines asset allocation, and this can be adjusted in the future.
For a higher fee, the brokerage firm offers several packages that drop the robot and use human advisors instead. Fidelity Wealth Services lists annual advisory fees of 0.50% to 1.50%, depending on assets and service level. The exact fee depends on total assets invested.
Managed FidFolios charge 0.40% or 0.70% annually and require a $5,000 minimum investment. Some other managed portfolios have higher minimums, although. A domestic stock account charges just 0.20%, but may require a high balance for this rate. The maximum fee is 0.65%.
Updated on 4/2/2026.
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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