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Fidelity Review Forex Broker & Trading Markets, Legit or a Scam

Fidelity
Score

3/5

Min Deposit

N/A

Min Spread

N/A

Regulation

Unregulated

Max Leverage

N/A

Positive Ratings
80%
Neutral Ratings
10%
Negative Ratings
10%

Company Summary

Aspect Information
Registered Country/Area United States
Founded Year 1998
Company Name Fidelity
Regulation Unregulated
Minimum Deposit 0
Trading Platforms Desktop, WebTrade, and Mobile App
Customer Support 24/7 support via Live chat, Calls 800-343-3548 and Virtual Assistant.
Payment Methods Electronic Transfers, Wire transfers, and direct/check deposits.

Introduction

Fidelity is an investment and training platform. It caters to traders with different financial goals and offers guidance for better trades. The platform offers solutions to different goals like, whether you want to spend and save, invest, trade, or a retirement plan.

The platform ensures technological solutions to businesses and firms to help them grow. It offers wealth management services for traders to help them grow and protect their wealth.

Apart from these money management processes, the platform offers multiple trading tools and instruments. If you are looking for your desired domain for trading, you can get it at Fidelity. These instruments include mutual funds, options, ETFs, crypto, and more.

Pros

  • Multiple trading instruments
  • Numerous Account Types
  • Comprehensive Educational Material

Cons

  • Limited regulatory information
  • No Forex Trading

Trading Instruments

Fidelity provides traders with a range of financial instruments to trade in. It caters to traders with different trading requirements and interests. The top trading instruments you get access to are:

ETFs

The platform offers a variety of exchange-traded funds. At Fidelity, traders get access to ETFs like equity, thematic, fixed income, and more.

Mutual Funds

At Fidelity, you get to trade in multiple mutual funds including stocks, bonds, and short-term investments.

Options

The options trading at fidelity make it easier and simpler to trade. The traders get to enter the market and use opportunities mindfully.

Crypto

If you want to explore digital currencies, then you must invest in the Fidelity crypto market. It offers multiple opportunities to trade and grow.

Fidelity trading instruments

Account Types of Fidelity

Fidelity provides multiple account types designed to cater to the different needs of the traders. Each account has features and benefits that align perfectly with your financial goals.

The top trading accounts on the platform are:

Brokerage Account

The platform offers zero commissions on multiple trading instruments like ETF and option trades.

IRAs

The retirement account is a way to save your funds for your future. Here, you get access to exceptional tools and investment guidance for making informed decisions.

Health Savings Accounts

You get to save and invest in health plans. With these, you qualify for your medical expenses and get tax advantages.

Account types of fidelity

How to Open an Account at Fidelity?

Fidelity allows you to create specified accounts based on your financial goals. To create an account, you need to follow the given steps:

Step 1: Visit the Fidelity website and discover open an account option.

Step 2: Select the type of account from the multiple options that meet your needs.

Step 3: After you choose the account type, fill in the required details on the page.

Step 4: Verify your account via mail or code received on your registered number.

Step 5: Complete your application and add money to your account.

If you are confused in choosing the account type, the platform also offers guidance for your better decision.

Security and Regulations at Fidelity

Fidelity is a nonregulated trading platform, that increases the chances of risks. The platform has no financial body regulating and has no authorization. All this results in an unsafe trading environment.

The user’s data is not safe and has a higher chance of fraud.

Security at Fidelity

If you want tot trade with regulated brokers, you can opt for Capplace, FXRoad and Capitalix.

Funding Process

Fidelity offers users different methods of payment on the platform. This ensures their comfort and provides convenience to the traders. The deposits can take up to 3 business days whereas withdrawals via wire transfers are processed instantly.

Traders can use electronic transfers, and wire transfers and also do direct or check deposits to fund their trades. The platform does not charge any additional fees for the deposits and also has no minimum deposit for multiple accounts.

Customer Support

The platform offers 24/7 customer support and proper guidance to new investors. The platform offers support via multiple channels like:

Phone Support

A 24/7 calling line is available for the users. They can call 800-343-3548 and resolve their issues and queries.

Live Chat

The live chat on the platform offers real-time communication with the team. Here, you get chat support for your trade-related issues.

Educational Resources

The platform also offers a range of educational materials. These help traders learn and understand the different trading styles and make better decisions.

Conclusion

Fidelity offers a wide range of trading instruments and processes that enhance your wealth management process. The platform guides you in understanding and learning the proper way to invest your funds. You also get the option of developing different accounts based on your needs.

However, Fidelity has not been authorized and regulated by any financial authority. The platform is unregulated which increases the concerns about the safety of data and funds of the users. Without any regulations, the platform might face numerous challenges in solving the client issues or any technical issues of the platform itself.

At last, Fidelity offers multiple features with some intriguing drawbacks, which are needed to process.

  • Wide Range of Trading Instruments
  • Multiple Account Types
  • Comprehensive Customer Support
  • No Minimum Deposit
  • Lack of Regulation
  • No Forex Trading
FAQs

Frequently Asked Questions

Does fidelity offer Forex trading?

Fidelity does not offer the forex trading options.

Does Fidelity charge commissions?

The platform does charge commissions and fees on some funding processes.

What types of accounts does Fidelity offer?

Traders can open multiple account types at Fidelity. These include individual accounts, margin accounts, health savings accounts, and more.

How long does it take to open an account?

To create an account at Fidelity can take a few minutes., The process is done online so the verifications might take longer.

What is the minimum deposit required?

The platform has no minimum deposit for the basic account types, whereas it can also vary for the different account types.

What financial instruments are available?

At Fidelity, you can trade in ETFs, crypto, mutual funds, and more.

Does Fidelity offer demo accounts?

No, Fidelity does not have any provision for demo accounts.

What are Fidelity’s customer support options?

At Fidelity, you get 24/7 customer support via calls, live chats, and virtual assistants.

Is Fidelity regulated?

Fidelity is not regulated by any financial authority.

Trusted Score

4.3/5

Trusted Score

4.1/5

Trusted Score

4.2/5

Trusted Score

4.5/5

Trusted Score

4.8/5