Fidelity Brokerage Account Reviews

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Moved from Schwab for a rep available anytime, but the advisor grew unhelpful with vague answers and later pushed an SMA three times after being told they were not interested, so they moved to a fee-based fiduciary.

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Nearly 20 years at Fidelity with most net worth there, but a routine transfer to the CMA was held 26 days without notice, leaving bills unpaid and meeting no empathy; moved everything to Schwab and is pleased with it.

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They call Fidelity Baskets horrible because some of their positions are stuck in limbo. They were told the engineering team would take about a week to respond.

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Long-time clients with a supposed advisor and team who never contacts them; zero contact is the worst experience in about 40 years with Fidelity.

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A customer since the 1990s who noticed a terrible drop in service after being dropped from the Private Client Group, with questions unanswered and promised callbacks that never came.

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Thinks Fidelity service beats Robinhood and Coinbase and is near Schwab, but at times got incorrect information and had to call several times to resolve a problem or two.

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Fidelity was always helpful and they moved most things over, but bad and conflicting information before and after a move was only clarified by a supervisor while secure messages went unanswered.

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Generally happy with Fidelity support but has learned not to take it as gospel after being told things in error, and says second-tier help is hard to reach.

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Support and ops were great about researching an unexplained old transfer fee, but the advisor they were sent to belittled their Boglehead investing strategy.

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After a parent's death it took over a month, two visits to different Fidelity offices and countless calls and emails to transfer an IRA to them, so they are moving it to another company.

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Fidelity is their least favorite of three brokers; a fraudulent debit charge on the cash account took months to recover and support was rude and bad on other calls, until they wrote the executive office.

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Deposit was held for a month after being told three days, with support unable to help and many others reporting similar holds, which pushed them to choose Vanguard.

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Was locked out of Fidelity for six weeks, lost money as a result, and split investments across two brokerages afterwards.

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Employer direct deposits were held two weeks in a row in the CMA, tying up thousands of dollars, so they returned to a real bank for spending.

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Called after hours about a possible phishing message and Fidelity locked all accounts and cards, cancelled pending bill payments and gave different answers on every follow-up call.

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Loves Fidelity but was locked out for two weeks during an investigation, which was nerve-wracking and is why they keep some money separate.

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Had Fidelity as a one-stop shop for years until it rolled out a 20-day hold with no prior notice, which showed it was no longer customer-service aligned.

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Fees and a very hard time closing the account; the agent would not let them move their investment.

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After a hacker bought worthless puts, Fidelity eventually made it right, but the fraud team seemed clueless about access from two IP addresses while the owner was abroad.

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Has Fidelity accounts only because of an employer 401k and cannot wait to close them, finding the site difficult and not intuitive and customer service middling, with no bank behind it.

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Two weeks of secure emails, four form submissions and phone calls have failed to get their retirement accounts unrestricted after a data-refresh letter in an obscure folder, with no email or text warning beforehand.

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After transferring in $100k, had a terrible customer service experience over an old 401k that was never fully closed, with about 10 cents left, and was told closing it would cost a $75 fee they had already paid.

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For several years has been unable to change the primary beneficiary online, getting an error each time, and also needs multiple tries to log in with the system reporting wrong credentials.

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Has held FXAIX for ten years but is cutting ties with Fidelity, citing a clunky user interface, poor IT, incompetent assistance and childish responses when closing accounts.

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Was burned badly by Fidelity over an IRS payment and no longer trusts it as a one-stop shop, though it has a good secondary credit card and a functional cash account with debit card.

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Likes Fidelity's platform but is fighting after it inappropriately disbursed their entire 457(b) from a previous employer without the 60-day decision window, with hours on the phone and a big tax hit looming.

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Says Fidelity is fine and has the easiest site to navigate, but its money market funds yield worst of the three and its advisors feel like an aggressively sales-driven team.

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They opened a Fidelity account but, after changing phone numbers, could not log in or verify it. Two calls to customer service confirmed only an in-person visit could unlock it, so they went elsewhere.

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Says deposits initiated from within Fidelity were put on hold last year for 10 days to a month due to security scams, while transfers started from the bank took at most three days.

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Moving most money from Fidelity to Schwab after noticing customer service slip over the past year, with inaccurate information and no urgency to solve problems caused by Fidelity's system limits; leaving only a small amount behind.

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Tried to set up an IRA with Fidelity and found customer service unhelpful, then got quick assistance at Schwab, where the IRA opened fast and the 401k rollover was easy.

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Living overseas, tried three times to withdraw from Fidelity, which needed to phone to verify identity but apparently could not place an overseas call; moved everything to Schwab once back in the States.

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Premier customer of 18 years who got a mailed notice that Fidelity was closing all accounts with no warning or explanation; can only sell or transfer out, and the Premier rep could not say what triggered it.

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Tried for weeks to open an account at Fidelity, talking to multiple support reps who filed several tickets without getting it done, then opened a Schwab account instead and calls Fidelity's customer service incompetent.

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After 40 years finds the new Trader Pro very user unfriendly, and says Fidelity told them they were out of luck on several complaints, so plans to close their accounts.

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A payroll direct deposit was held two weeks for fraud protection with no recourse, so after release they closed all Fidelity accounts except a 401k they are stuck with.

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A minor account name change took 15 minutes at Schwab, but Fidelity's branch forced a separate appointment a week later and the reps were rude and not punctual.

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Held a Fidelity account for about 18 years, but moving a 401k to an IRA took five weeks the first time and three weeks the second, unlike Schwab where problems were resolved the same day.

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A 401k to rollover IRA move within Fidelity became a runaround of repeated notarizations that were then left to expire, and only a transfer request from Schwab finally got the money out.

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Started with Fidelity after Vanguard, then had accounts locked for fraud over a transfer from their own bank, waited an hour on hold, and got access back after about three weeks without explanation.

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Fidelity held deposits for six weeks at a time and fractional shares vanished on transfer, so everything moved to Schwab with no regrets.

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Warns that Fidelity cancels and freezes accounts without any notice and then tells customers they have 30 days to transfer out, with protests going nowhere.

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Has both and finds Fidelity customer service far worse than Schwab's; after a nasty exchange with the active trading group, which would not match Schwab's per-contract fee, plans to close Fidelity and move to Robinhood.

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Prefers Schwab's trade ticket, and a Fidelity phone agent gave empty, noncommittal and likely incorrect answers on a straightforward account question.

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Heavy rapid day trading in one stock led Fidelity to permanently shut down their account without warning, though they say Fidelity has excellent price improvement.

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Has accounts at both and prefers researching on Fidelity, but finds Vanguard's service far more patient and says Fidelity customer service steered them toward high-cost actively managed funds.

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Liked getting ATM fees reimbursed overseas but dislikes the account overall; after reporting unauthorized card use and cancelling the card, got only one call and no follow-up on the dispute.

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Used both for years and closed Fidelity because Schwab has hands-down better customer service, gradually migrating everything there.

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Active Trader Pro does not save chart or configuration changes, and recently dividends were sent to cash instead of being reinvested; an issue reported over a year ago was never fixed.

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Says Fidelity customer service ends when the CMA has a problem because the banking is outsourced; they were bounced back and forth for a long time and moved banking elsewhere about ten years ago.

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They paid extra for Fidelity Baskets after consolidating M1 accounts there, hit a failed rebalance with funds stuck pending, and got no callback for weeks, leaving them regretting the move.

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Had many issues opening the account, cannot log in via Chrome, and transfers are slow: one took three weeks and a Roth transfer took two months, so most money went to Vanguard.

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Agrees with Fidelity's positives but is dipping into Schwab because the CMA is not a true FDIC checking account, check images fail on mobile, fraud holds are long, and card transactions are often rejected.

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Moved a significant Fidelity account to Schwab because Fidelity seems to give bad customer service to anyone who is a DIY investor.

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Long-term Fidelity customer who finds the extended holds ridiculous and says its customer service model seems to have changed for the worse, so is looking for a new home and moved many assets to IBKR.

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Says the Fidelity advisor pushed hard to move their 401k into a managed account for a larger fee and kept calling afterwards, leaving a poor impression.

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Almost 30 years as a customer, account locked for three months when trying to withdraw.

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Plans to move all Fidelity assets to Schwab after finding administrative tasks a nightmare, with reps giving different answers each time, the back office dropping the ball, and archaic manual forms as power of attorney.

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Was erroneously banned from Fidelity and still has not been reinstated, so would be reluctant to consolidate on its platform.

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An experienced options trader says a market order on an illiquid option filled far below the bid shown in the Fidelity app, and Fidelity support would not reverse it, so they advise always using limit orders.

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Locking an HSA with Fidelity's transfer lock earlier this year blocked reimbursing themself from the HSA with an unhelpful error.

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They hit a bug in Fidelity Baskets where one basket would not save ticker changes and recurring investments kept buying unwanted stocks. Support called baskets a niche product, and they are now looking at alternatives.

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Based on their own experiences, finds Fidelity customer service horrible when dealing with complex issues.

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Moved IRAs from Fidelity to Schwab because of the website and customer support, after their spouse also disliked the Fidelity site.

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Years ago asked Fidelity for advice on a 403b and says they would not give any, only becoming helpful once they wanted the account, so is skeptical that any brokerage firm is really good.

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After decades of stellar service, the latest advisor appointment turned into a hard annuity sales pitch that a financially trained customer found tacky and deceptive.

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Complains that Fidelity keeps calling at odd hours even after being asked to stop, and the person calling was rude.

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They say Fidelity closed their long-held account after they withdrew funds to buy ETFs, gave no details when they called support, then asked for proof of their job while their money sat idle.

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Thought Fidelity was great versus Vanguard but dislikes the options approval process and slow fills.

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Fidelity locked their account once and since then they moved to Schwab, which they say is way better.

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Stuck with Schwab for over a decade because Fidelity tends to hold deposits for weeks and its CMA is not a fully regulated bank, with horror stories when a problem lands with its partner banks.

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A branch visit to learn how to transfer a pension to a Roth IRA meant a two-hour runaround in the lobby before the staff said they needed more research.

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Owners of a ticker-changed stock were locked out of selling for hours after the open while other brokers allowed it, turning a 40% profit into a loss, with customer care unhelpful.

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Despises Fidelity's customer support after hours of calls bounced between the 401k, brokerage and security teams, and needing their employer to intervene twice to unblock an account locked multiple times.

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Account locked for days after a scam with dismissive, unhelpful customer service.

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They say Fidelity incorrectly reversed an executed transfer from their cash account and it took weeks to get fixed. After those experiences they say they will never use Fidelity again.

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They report repeated bad phone calls with Fidelity customer support, where some reps did not understand the issue and described restrictions that were not actually on the account.

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Complains that every Fidelity call turns into a full profile and financial planning pitch and first-call agents are very junior, unlike Schwab which has no agenda beyond their need.

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Says Fidelity terminated all their accounts after a FINRA complaint, with a small deposited check held for weeks and no clear explanation.

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An ACH deposit promised in 1-2 business days was still unavailable five days later because of a blanket 16-day fraud hold; Fidelity said to call their bank, which could not reverse it.

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Fidelity refused to pay a trust beneficiary, forcing probate before eventually paying.

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Long list of grievances: calls Fidelity monthly and the site goes down every few days.

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Moved about 400k to Fidelity and regrets it: customer service was abysmal and the money was tied up so they could not trade online for about a month, versus 2-3 days at other brokerages.

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Says Fidelity has garbage customer service because of understaffing, with waits of about two hours and being unable to reach anyone about 60% of the time, so account setup has dragged for over a month.

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Says Fidelity is placing 20-plus-day holds on ACH and EFT transfers, which makes timing a real estate closing impossible; had 90% of cash there before moving some elsewhere.

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A Fidelity Youth account sat in pending verification for two weeks and a check from the CMA bounced because transferred funds took 10-14 business days to become available.

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A ten-year customer leaving because deposited checks and EFTs now take up to four weeks, despite advertised 7-10 days, leaving money in limbo.

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After waiting 1.5 hours on hold to be told to send in many documents to access their own money, is leaving for Schwab, where they never wait on hold.

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Spent two hours on the phone with Fidelity without reaching a human, whereas the longest wait for a Schwab rep was under five minutes.

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Has spent five years trying to resolve a beneficiary claim with Fidelity; reps are friendly on the phone but nobody calls back as requested and they say claims are processed overseas.

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Calls Fidelity's software the worst in the industry and its customer service non-existent, and is moving to Schwab.

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Switched from Schwab after its T-bill auto rollover failed at a cost of several hundred dollars and reps shrugged it off; Fidelity's auto roll keeps them invested and SPAXX pays far more.

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After more than 30 years at Fidelity, says a representative who disliked their crypto investments locked them out of their own account with no access to their money, and acted as if Fidelity owned it.

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Had an awful experience inheriting a grandmother's 401k from Fidelity, which took about a year and required involving the IRS to get Fidelity to follow the law.

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Fantastic until the account was locked for over a week with no reason; cleared with no explanation.

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A diehard Fidelity customer until a CMA issue was not resolved and cost a $30 insufficient-funds credit card fee despite ample balance; CFPB could not help, so banking moved to Schwab.

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Adding brokerage accounts was easy at Fidelity, but linking bank accounts to fund them took two months of online chats, messages and phone calls before it was sorted.

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Deposit held for weeks citing fraud with no way to stop or reverse it; will close the CMA.

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Fidelity placed a 22-day hold on small EFT deposits.

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Consolidated to Fidelity but regrets it after poor fee-driven advice from its planner.

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The Fidelity app has not allowed deposits for months and both app and site throw errors nobody can explain; only the HSA is there, while IRAs at Schwab never had an issue.

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Electronic transfer held and Fidelity will not talk for 15 days; employer 401k also frozen.

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Fraud department stonewalls and strings customers along; only going to a physical branch got things moving.

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Never had a deposit issue, but says Fidelity has a clear support model issue.

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Found Schwab's phone service possibly the best they have experienced, while Fidelity required multiple calls, transfers between reps and contradictory information.

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Transferring a deceased parent's accounts went smoothly everywhere except the Fidelity 401k, which took two months, mishandled the beneficiary form and failed to notify them of another beneficiary.

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Uses Schwab for taxable and Fidelity for retirement and would choose Schwab because Fidelity passed them to many different people on the rare occasions they needed to call.

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Schwab service is unmatched while Fidelity's was frustrating: the rep did not know how to help, passed them around and hung up on them often.

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After an unexplained sale drained part of the account, followed up with Fidelity for months and its representatives never got back to them, leaving them doubting account security.

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Found weekly that all assets, including cash (about $73k), were moved via a fraudulent ACATS transfer to E*Trade; Fidelity contacted E*Trade, and the customer only then enabled lockdown, saying no one had mentioned that feature.

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Leaving Fidelity after feeling duped over its handling of GME shares, saying a broker should not trick customers for its own benefit and fearing it does the same elsewhere.

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Long-time customer told small check deposits would be held 16 business days.

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A stranger from Fidelity called with access to their information after one branch meeting.

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Account blocked for months with the runaround on every call; moving retirement funds to Vanguard.

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Says Fidelity would not let them update information and keeps their money.