Does Fidelity charge for stock trades?

No. Fidelity charges $0 commission on US stock and ETF online trades. There is no per-share surcharge on penny stocks, though OTC access is limited to OTCQX and OTCQB tiers.

What is the default cash sweep yield at Fidelity?

Fidelity sweeps cash into SPAXX (Fidelity Government Money Market Fund) at a 7-day yield of 3.26% as of May 12, 2026. The sweep is automatic with no minimum, opt-in, or subscription required — among the most generous in the industry.

Does Fidelity offer 24-hour trading?

No. Fidelity supports pre-market (7:00–9:28 a.m. ET) and after-hours (4:00–8:00 p.m. ET) limit orders, but not 24/5 overnight equity trading. Schwab thinkorswim, IBKR, Robinhood, Webull, and Firstrade do offer overnight sessions.

Can I buy fractional shares at Fidelity?

Yes. "Stocks by the Slice" lets you buy from $1 across 7,000+ stocks and ETFs — the lowest minimum among major brokers (Schwab requires $5 and limits to S&P 500; E*TRADE does not offer fractional shares).

Does Fidelity accept payment for order flow?

No on US equity trades, yes on options. Fidelity is one of the only major retail brokers to refuse PFOF on equities and reports $24.50 in price improvement per 1,000-share market or marketable limit order — more than 5× the industry average of $4.34.

Does Fidelity offer crypto?

Yes, but with significant limits. Fidelity Crypto supports BTC, ETH, LTC, SOL, and the FIDD stablecoin in 38 states, with a ~1% spread built into the price. External wallet transfers (in or out) are not supported.

What's the margin rate at Fidelity?

Fidelity uses a tiered schedule effective 12/12/2025: 12.575% under $25K, dropping to 7.50% above $1M. The base rate is 10.575%. IBKR Pro is structurally 2–4 percentage points cheaper at most tiers.

Fidelity review

4.7 / 5

Last reviewed May 13, 2026

Visit Fidelity

Best overall broker for long-term investors, retirement, mutual funds, and cash management. Industry-leading sweep yield, zero-expense-ratio funds, and no PFOF on equities.

No PFOF on equities
$0 stock/ETF/options base
SPAXX 3.26% auto-sweep
Zero-expense-ratio funds
Fractional from $1

At a glance

Founded: 1946
AUM: $7.1T
Customers: 50M
Minimum deposit: $0 (Fidelity Go robo requires $10 to invest)
Regulators: SEC · FINRA · NYSE
FDIC sweep: Up to $5M

Strengths and weaknesses

Strengths

Only major broker with zero-expense-ratio index funds (FZROX, FZILX, FNILX, FZIPX)
Best automatic cash sweep — SPAXX 3.26% with no minimum or opt-in
No payment for order flow on equities; $24.50 price improvement per 1,000 shares
~20 third-party research providers — broadest in retail brokerage
24/7 phone, live chat, and 215+ in-person investor centers
NerdWallet Best App for Investing 5 years running (2022–2026)
Strong retirement ecosystem: Solo 401(k), HSA, 529, custodial, youth
Fractional shares from $1 across 7,000+ stocks and ETFs
$0 transfer-out, $0 IRA closure, $0 wires (USD)
Direct physical precious metals via FideliTrade — rare among brokers

Weaknesses

No futures or futures options
No forex
No 24/5 overnight equity trading (extended hours stop at 8 p.m. ET)
No public retail API or algo access — significant gap vs. IBKR
Crypto limited to BTC, ETH, LTC, SOL + FIDD stablecoin; unavailable in ~12 states
Base margin rate (10.575%) runs 2–4 percentage points above IBKR Pro
Transaction-fee mutual fund buy is $49.95
International direct trading covers 25 countries vs. 170+ at IBKR
Fidelity Crypto blocks external wallet transfers in or out

Best for

Sub-ratings

Commissions & fees: 4.6
Platforms & tools: 4.4
Mobile app: 5.0
Research: 5.0
Education: 5.0
Customer service: 4.9
Range of investments: 4.2
Active trading: 4.3

Pricing & fees

Full fee schedule

Category	Item	Price	Notes
Stocks & ETFs	US stock / ETF commission	$0	—
Options	Options base + per-contract	$0 + $0.65	No exercise/assignment fee
Mutual funds	Mutual funds — Fidelity & NTF partners	$0	10,000+ NTF funds
Mutual funds	Mutual funds — transaction-fee	$49.95 buy / $0 sell	—
Bonds	US Treasuries (online)	$0	—
Bonds	Corporate / muni bonds, CDs	$1 per bond	$250 max; rep-assisted has $19.95 min
Crypto	Crypto commission	$0 commission, ~1% spread	—
Account & service fees	Broker-assisted trade surcharge	+$32.95	—

PFOF: Does not accept payment for order flow on equities; accepts PFOF on options. Famously does not accept PFOF on equity trades; receives PFOF on options (industry standard).

Margin rates vs. peers

Effective interest rate by debit balance. Lower is better. Step-line — rate is constant within each tier.

Cash sweep

Default cash sweep

3.26%(SPAXX (Fidelity Government Money Market Fund))

30-day yield 3.29%. FZFXX Treasury MMF 3.28% / 3.30% available as alternate core position.

As of May 12, 2026

Asset coverage

US stocks (NYSE/Nasdaq/AMEX)
Yes
OTC / penny stocks
OTCQX/OTCQB only; no Pink Sheets/Grey; no extended hours for non-listed OTC
Limited
Fractional shares
$1 minimum, 7,000+ stocks/ETFs
Yes
Options (up to Level 4)
Yes
Mutual funds
10,000+ funds incl. 4 zero-expense-ratio (FZROX, FZILX, FNILX, FZIPX)
Yes
ETFs
Yes
US Treasuries
$0 online, auction + secondary
Yes
Corporate / muni bonds, CDs
$1/bond; 75,000+ new issues + 120,000+ depth-of-book
Yes
IPOs
Households with $100K+ assets or Premium tier
Limited
International direct
25 countries, 16 currencies
Yes
Forex
No
Futures / futures options
No
Crypto (direct)
BTC, ETH, LTC, SOL + FIDD stablecoin; 38 states; ~1% spread; no wallet transfers
Limited
Spot crypto ETPs
FBTC, FETH, FSOL plus all third-party
Yes
Pre-market trading
7:00–9:28 a.m. ET, limit only
Yes
After-hours trading
4:00–8:00 p.m. ET, limit only
Yes
24-hour overnight equity trading
No
Precious metals (physical)
Gold/silver/platinum/palladium via FideliTrade
Yes

Platforms & tools

Platform deep-dive

Web
Fidelity.com
- Integrated trade ticket with conditional orders
- Full screener suite (stocks, ETFs, mutual funds, bonds, options)
- Portfolio analysis and planning tools
- +1 more — see platform deep-dive
Desktop
Active Trader Pro (ATP)
- Real-time streaming Level II quotes
- Options chains with strategy builder + multi-leg ticket
- ~40 charting indicators, multi-timeframe analysis
- +3 more — see platform deep-dive
Windows/Mac; Linux unsupported
Desktop
Fidelity Trader+
- Next-gen multi-monitor desktop rebuilt from ATP
- Positioned as direct response to thinkorswim and Trader Workstation
Announced 2025
Mobile
Fidelity Mobile
NerdWallet #1
- NerdWallet Best App for Investing 2022–2026
- Active Trading mode with full options chains
- Fractional shares + Fidelity Crypto integration
- +1 more — see platform deep-dive
API
Public retail API
- Not available to retail customers
Institutional APIs exist via WealthScape but not for individual investors

Key capabilities at a glance

Commission: $0
Fractional shares: Yes
Stocks by the Slice, 7,000+ stocks/ETFs, from $1
Extended hours: Yes
Overnight (24/5): No
Options: $0.65
OTC access: 2/5 full, 0/5 limited
Short locate: limited

OTC market access by tier

OTC Markets organises non-exchange-listed securities into five tiers by disclosure quality. Fidelity’s coverage:

OTCQXFull
OTCQBFull
Pink CurrentNo
Pink LimitedNo
Grey MarketNo

Awards & recognition

2026 Best App for Investing — NerdWallet
2026 Best Broker for Beginning Investors — NerdWallet
2026 Best in Class — StockBrokers.com
2026 #1 Research Tools, Customer Service, Trade Execution, Website Security — Investor's Business Daily
2025 Best HSA — Morningstar
2025 Best App for Investing — NerdWallet
2025 Best in Class — StockBrokers.com
2024 #1 Overall Broker — StockBrokers.com

Recent changes

Dec 12, 2025pricing
Updated commission and margin schedule; base margin rate set to 10.575%
2025product
Launched in-house spot crypto ETPs (FBTC, FETH, FSOL)
2025product
Fidelity Trader+ announced — next-gen multi-monitor desktop platform
Aug 2024regulatory
Third-party vendor data incident affecting ~77,000 customers; credit monitoring offered, no funds lost

Frequently asked

Does Fidelity charge for stock trades?: No. Fidelity charges $0 commission on US stock and ETF online trades. There is no per-share surcharge on penny stocks, though OTC access is limited to OTCQX and OTCQB tiers.
What is the default cash sweep yield at Fidelity?: Fidelity sweeps cash into SPAXX (Fidelity Government Money Market Fund) at a 7-day yield of 3.26% as of May 12, 2026. The sweep is automatic with no minimum, opt-in, or subscription required — among the most generous in the industry.
Does Fidelity offer 24-hour trading?: No. Fidelity supports pre-market (7:00–9:28 a.m. ET) and after-hours (4:00–8:00 p.m. ET) limit orders, but not 24/5 overnight equity trading. Schwab thinkorswim, IBKR, Robinhood, Webull, and Firstrade do offer overnight sessions.
Can I buy fractional shares at Fidelity?: Yes. "Stocks by the Slice" lets you buy from $1 across 7,000+ stocks and ETFs — the lowest minimum among major brokers (Schwab requires $5 and limits to S&P 500; E*TRADE does not offer fractional shares).
Does Fidelity accept payment for order flow?: No on US equity trades, yes on options. Fidelity is one of the only major retail brokers to refuse PFOF on equities and reports $24.50 in price improvement per 1,000-share market or marketable limit order — more than 5× the industry average of $4.34.
Does Fidelity offer crypto?: Yes, but with significant limits. Fidelity Crypto supports BTC, ETH, LTC, SOL, and the FIDD stablecoin in 38 states, with a ~1% spread built into the price. External wallet transfers (in or out) are not supported.
What's the margin rate at Fidelity?: Fidelity uses a tiered schedule effective 12/12/2025: 12.575% under $25K, dropping to 7.50% above $1M. The base rate is 10.575%. IBKR Pro is structurally 2–4 percentage points cheaper at most tiers.