Fidelity International is one of the world’s award-winning brokerage that deals with stocks, ETFs, funds, and investment trusts. They are considered to be one of the largest brokers in the USA.
In this article, we will be rating the services provided by Fidelity International. Out of the things, we will be rating them out of include, the regulatory bodies that have recognized and licensed Fidelity International and deemed it secure for trading, the type of trading platforms that are offered by Fidelity International, the types of accounts available, the minimum deposit fee, funding methods for depositing money into the trader’s account, availability of different financial tools, access to educational tools and many other things.
The aim of this review is that by the end of this article, the reader should get a clear idea of what constitutes trading with Fidelity International and whether if you should open an account with them or maybe consider another forex broker.
Fidelity International – Overview:
1. Safe – having a multitude of financial services licenses under their wing and in particular being recognized by the prestigious Financial Conduct Authority (FCA) of the UK, makes Fidelity International completely safe to trade with.
2. Good Customer Service: Fidelity International offers its clients valuable customer service ensuring that the client is always left satisfied with the answers.
3. User Friendly – Their platform is available on iOS and Android devices as well as for traditional means of computers as well. The AI-based platforms have made trading hassle-free and easy.
Company Profile – Fidelity International:
Fidelity International was founded in 1969 as the international investment subsidiary for the group Fidelity Investments which was based in the USA. They became an independent company in the year 1980. They have been a massive success ever since. This makes fidelity International one of the oldest online trading brokers in the world.
The company has acquired its license from the Financial Conduct Authority (FCA) of the UK. As a company, they deal with traders from the UK as well as international traders.
Fidelity International also has an investment platform especially for the UK financial advisors, called the Fidelity Funds Network. Through this network, advisors can invest and manage their clients’ money with much ease.
Globally, Fidelity International has acquired over 2.5 million clients, a million of which belong to the United Kingdom. They are responsible for over 450 billion GBP worth of client assets.
Fidelity International Regulations:
Since they only have offices within the United Kingdom, Fidelity International is licensed and regulated by the top-tier Financial Conduct Authority (FCA) of the United Kingdom.
Fidelity International Trading Platforms:
Their platform is user friendly and very easy to use. The more casual and retirement investors the platform can place their buy and sell orders through their phones and browsers. On the contrary, the more involved and seasoned traders will better benefit from Fidelity’s Active Trader Pro which is a downloadable desktop trading platform.
The active trader Pro is a unique platform. It is very comprehensive and is extremely user-friendly that even the most novice beginner traders will quickly get a grasp of the many tools provided by the platform. The various types of tools provided by the platform include the pre-built market shortcuts, hotkeys, watch lists, and various types of research-based tools.
The platform’s layout can be customized, including the color of the layout and the font type and size. The importance of the ability to color customize would be best appreciated by the visually impaired (color blind) traders.
A wide range of basic to advanced screening and order tools are also available. The use of such tools makes the entire process of trading more efficient. Traders can screen stocks through the 45 different types of marker filters and the various types of technical indicators available.
To ensure customer comprehension, Fidelity also offers a tutorial for learning how to use their platform. As soon as the trader logs in on the platform for the first time, they will receive a quick tutorial that will go over all the basic features of the platform.
Their platform is hence, easy to navigate, comprehensive, and extremely user-friendly which makes it ideal for the beginner level traders as well.
Fidelity International offers its clients 5 primary types of accounts, they include:
1. Fidelity Investments ISA: This type of account enables you to invest in a tax-efficient environment. Investments can be made up to the limit of 20000 GBP. Such type of account can be started for as little as 25 pounds per month. You can invest in a range of funds, ETFs, and unit trusts.
2. Fidelity Junior ISA: With such type of account, parents and guardians can safeguard a decent sum of amount in a tax-efficient environment that can be accessed by their child once he/she turns the legal age of 18. Investments can be made up to the allowance of 9000 pounds. This type o account can also be started with as little as 25 pounds. You can invest in a range of funds, ETFs, and investment trusts.
3. Fidelity SIPP: The SIPP is the Fidelity Self Invested Personal Pension. It is aimed at people who are looking for ways to save for their retirement period. Such type of account can be started for as low as 25 pounds. Investments can be made up to 40000 pounds per year, depending upon the earnings. A 20% tax relief is also provided. Withdrawing your pension is allowed from the age of 55. You can invest in funds, ETFs, and investment trusts.
4. Fidelity Junior SIPP: This type of account is made by the parents and guardians on behalf of their child that will start to eventually build a fund for their future retirement. Tax relief of around 20% is also provided. The control of the account would be given to the child when they will turn 18. Such type of account can be started for just 25 pounds as well.
5. Fidelity International Trading Account: This is a general trading account and it allows you to invest in a wide range of funds, ETFs, investment trusts with NO upper limit to the investment amount. However, the tax is applied. Such type of account can be started with as little as 25 pounds.
Initial registration for the account takes a meager 20 to 25 minutes. The entire process of opening an account with Fidelity International is completely digital, fast, and hassle-free. However, the account opening is only available for residents of the United Kingdom only.
The minimum deposit at Fidelity International reaches up to 1000 pounds on average.
Deposit And Withdrawals:
Fidelity International offers only 1 base currency which is the GBP.
Fidelity International charges absolutely no deposit fees. Deposits can be made using credit or debit cards, or bank transfers. Except for bank transfers, which usually takes up to 1 day, the rest of the payment methods will take less than 30 minutes on average.
No fees are charged on withdrawals either. The money can be put directly into the debit cards, or into the trader’s bank account. Bank wire deposits can take upwards of 2 days to 5 days to get processed.
Fidelity International does not have e-Wallets available as a mode of depositing and withdrawing money.
As per Fidelity International UK’s policy, they do not accept payment from third parties.
Market and Trading Products:
Since Fidelity International is based in the UK, they only offer products that are traded on the London Stock Exchange. Their trading products include stocks, ETFs, funds, shares, and investment trusts.
Fidelity International offers various educational services to its clients. Some of them include:
1. Stocks and ETF screeners: For the stock screener, multiple expert screens and thematic screens are built-in and can be easily customized. The ETF screener is essentially similar to the stock screener but has an analyst rating as well.
2. Mutual Fund Evaluator: This tool gives you access to deeply dive into each fund’s characteristics.
3. Options screener: these are powered by LiveVol with built-in scans. This feature allows you to create custom screens from approximately 200 individual criteria.
4. Fixed income screener: Fixed income investors can use this screen to their benefit. The yield table generally updates every 15 minutes based on live accumulated data. The layout of this scanner is not much appealing.
You can contact Fidelity International via phone and email. The emails were promptly replied to. Their phone support is great. The team was very cooperative and patient. They were able to deliver informative answers. The biggest disadvantage of their customer support is that they do not offer live chat.
Fidelity International is regulated by the FCA. This makes trading with Fidelity International a safe option.
Their account opening is easy and swift. There are multiple options for deposits and withdrawals, all absolutely free of charge. They don’t have the option of online payment.
The drawbacks of their services include the lack of variety in their product range, and the high minimum account deposit, and the lack of live chat.