Fidelity investment platform review: features and fees for individuals

Disclaimer: The information in this article is for reference purposes only. Wise does not offer to buy or sell stocks, and all information on this page should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. Remember that investments, even in low-risk funds, are never guaranteed and your capital is at risk.

Interested in investing? If you want to start trading in stocks and shares in the UK, a relatively straightforward way to do it is via an online investment platform.

A popular option for both new and experienced UK investors is Fidelity International.

Based in Bermuda, the investment management specialist has offices all over the world, including London. Fidelity offers investment accounts, shares trading, funds, pensions and many other services.

In our comprehensive Fidelity review below, we’ll cover everything you need to know about Fidelity in the UK.

We’ll look at who it’s best for, account features, commission fees and how to get started with trading.

Who is Fidelity best for?

Fidelity is a solid option for beginners, as its website is easy to use and it offers lots of information to help new investors. The company is also good if you’re looking for other financial products, such as ISAs and pensions.

Who can open an account?

To open an investment account with Fidelity, you’ll need to be at least 18 years old and live in the UK.

You’ll also need to provide your National Insurance (NI) number, along with either your debit card or bank account details.¹ You might also need to provide proof of ID and address on application, along with other personal details.

What currencies are supported?

You can only hold GBP in your Fidelity account, but it is possible to trade in international shares. These will be carried out in the currency of the foreign market you’re trading in, and foreign exchange fees will apply to convert your GBP to that currency.²

Fidelity features

Now, let’s take a look at what kind of features you can expect when you open an investment account with Fidelity:³

• Invest either a lump sum or set up a regular savings plan
• Choose from 3000+ Uk and international funds and shares, including individual stocks and shares, ETFs, investment trusts and mutual funds
• Access to online tools and expert insights
• 24/7 management of your investments both online and via the Fidelity mobile app
• UK and Ireland-based support teams available 6 days a week
• No limit to the amount you can invest.

Fidelity fees

Now we come to the really important part - how much it will cost you to open an account and trade with Fidelity International.

Here are the main Fidelity fees and charges you need to know about:²

Fees	Amount
Account management fee	For value of investments under £25,000: 0.35% a year for regular savings plans £90 a year otherwise For investments between £25,000 and £1 million+: 0.20% to 0.35% a year
Deposit fee	None
Withdrawal fee	None
Currency conversion (applies to trades in international shares not in GBP)	0.25% to 0.75% depending on value
Trading/commission fees	£1.50 per transaction (buy/sell) for regular savings plans £7.50 per online transaction without a regular savings plan
Inactivity fee	None

Does Fidelity have an account fee?

Fidelity International does charge an annual account fee, which varies depending on the value of your investments and whether or not you have a regular savings plan set up.

Let’s take a look:²

Value of investments	Annual account fee with Regular Savings Plan	Annual account fee without Regular Savings plan
Less than £25,000	0.35%	£90
£25,000 to £250,000	0.35%	0.35%
£250,000 to £1m	0.20%	0.20%
£1 million+	None	None

Trading fees with Fidelity

Let’s dive a little deeper into trading fees with Fidelity, so you can assess how much it’ll cost you to start trading on the platform.

How much does Fidelity charge for UK stocks?

Fidelity has a charge for each buy and sell transaction. This is just £1.50 per trade if you have a regular savings plan, or £7.50 otherwise.²

There are also some costs not charged by Fidelity which may apply. For example, there’s UK Stamp Duty of 0.5% when you buy UK shares, and Irish Stamp Duty of 1% when you buy Irish shares.²

Fidelity withdrawal fees

Fidelity doesn’t appear to charge any fees for withdrawals, as it should be covered under the annual service fee.

Fidelity commission fees

Fidelity doesn’t charge any commission fees in most cases, although you’ll need to remember that foreign exchange charges will apply to international trades.

How to buy stock with Fidelity

Here’s a quick step-by-step on how to buy stock with Fidelity:⁴

1. Login to your Fidelity account online or via the mobile app
2. Select the account you want to use for trading
3. Enter the stock ticker/trading symbol for the stock you want to buy
4. Select ‘Buy’
5. Choose whether to enter the amount of money you’d like to invest, or the number of shares you wish to buy
6. Choose an order type - either ‘Market’ or ‘Limit’, and enter any further details or specifics required
7. Preview the order and check the details carefully
8. Select ‘Place Order’ to confirm.

Buying stock in another currency?

Buying or selling a stock or shares that aren’t traded in your local currency? Don’t let the currency conversion trip you up. Convert your stocks or shares into any currency with our handy tool, and you’ll always know what you’re getting.

Check out our international stock ticker tool.

Check international stocks🌍

Disclaimer: Wise's international stock ticker provides information for reference purposes only. This tool and platform does not offer to buy or sell stocks, and the data displayed here should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. We make no guarantees regarding the accuracy or completeness of the information provided, and users should exercise caution and seek professional guidance when making investment choices.

How is the Fidelity mobile app?

The ‘Fidelity - Manage Investments’ app is available from Google Play for Android devices and the App Store for iOS devices.

It’s free to download (although you will need to open an account) and it offers all of the main features as the online Fidelity platform.

At the time of writing, the app currently has a 4.3 score on Google Play (from 3,540 reviews)⁵ and a 4.5 score on the App Store (from 17,900 ratings).⁶

Fidelity customer service

Need help? You can contact Fidelity customer service using the following methods:

• Call 0800 414161⁷
• Login to your account and send a secure message.

Alternatives to Fidelity

There are lots of alternatives to Fidelity available to UK traders and investors, including:

• Trading 212
• IG Trading
• XTB
• Webull
• Interactive Brokers
• Charles Schwab
• eToro

FAQs about investing with Fidelity

Can I make a transfer from Fidelity to my Wise account?

You should be able to make a transfer from Fidelity to Wise, by entering your Wise UK account details on the transfer screen.

Is Fidelity beginner-friendly?

Fidelity International is a good option for new traders, as its website is easy to use and it offers lots of information (including handy how-to videos) to help beginner investors.

How long does it take to withdraw money from Fidelity?

It generally takes around four working days to withdraw cash from Fidelity to an already verified bank account.⁸ However, it could take a little longer if you’re adding a new account - as it needs to be verified first.

How much does Fidelity charge?

Fidelity has annual service charges of 0.35% or £90, and trading fees of either £1.50 or £7.50 per trade, depending on whether or not you have a regular savings plan set up.²

Is there a fee to close a Fidelity account?

No, there doesn’t appear to be a fee to close a Fidelity investment account.

Is Fidelity covered by the FSCS?

Yes, Fidelity is covered by the Financial Services Compensation Scheme (FSCS). If you hold cash in your account, Fidelity may keep this with one or more registered UK banks. If any of these banks become insolvent, up to £85,000 of your money held with them will be covered under the FSCS.²

Save money when selling or buying international stocks with Wise

If you are buying or selling international stocks and funds listed abroad, you might be hit with extra costs for cross border money transfers.

But if you use Wise money transfer, you can avoid hidden currency exchange markups. Open a Wise account and you’ll be able to conveniently manage your money in up to 40+ currencies. This means you can convert your money into other currencies when the time is right for you at the mid-market rate for only a small, transparent conversion fee*.

Open your Wise account 🌍

Already have an account? Did you know you can turn on Interest, to help boost your balance? Earn returns on GBP, USD and EUR by opening a Wise account and investing in a fund that holds government-guaranteed assets.

Learn more about Wise Interest

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

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Sources used:

1. Fidelity - opening an account with Fidelity
2. Fidelity - supported currencies, coverage and key features
3. Fidelity - Investment Account features
4. Fidelity - How to trade stocks
5. Google Play - managing Fidelity investments
6. App Store - Fidelity - Manage Investments
7. Fidelity - contacting Fidelity
8. Fidelity - How to withdraw cash on Fidelity

Sources last checked on date: 14-Oct-2024