• Fidelity Investments

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Overview

Fidelity Investments has a rating of 1 star from 3 reviews, indicating that most customers are generally dissatisfied with their purchases. Fidelity Investments ranks 270th among Personal Finance sites.

  • Service
    2
  • Value
    2
  • Quality
    2
Positive reviews (last 12 months): 0%
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How would you rate Fidelity Investments?
Top Critical Review

“Fidelity is the worst of all of the trading platforms”

Rob B.
7/19/21

I hardly ever complain to a business, but when I can't access funds for over a trading week, and then have no access to sales, trades, or option premium until it is settled too, and then contact support that either can't add, can't understand simple call options, or can't understand the problem... its a complete waste of human employment. In addition, I will not trade there anymore because each deposit or trade has to cure (settle) 6 trade days before I can access funds. NO WAY!... The chat session was over one hour total. I was trying to close an option with sufficient cash in the account but could not for a couple of days. It expires today so it will close on its own, but the protocol that sets fidelity aside from all other brokerage firms is that you are promised to use unsettled cash as deposited, however the unsettled cash cannot actually be used in any way other than trading stocks above 3 dollars, otherwise even if you deposit more cash, that too can't be used for six trading days. Fidelity is not worth the trouble as none of my other accounts do that. I could not close a position until the days have passed because of it. One of the reps that helped me also did not understand how options worked; she thought selling an option cost me money and went above my balance; it didn't. Their customer service is comparable to robinhood... and they dont have any! I think because the money was transferred out of my account last friday, and won't settle until next monday, that they are investing your money and delaying the time for a week and a day. Because chase bank said they transferred it last weekend but its still not settled and not useable on anything other than buying stock above three dollars. Fidelity sux - BUYER BEWARE!

Reviews (3)

Rating

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Thumbnail of user robb398
2 reviews
0 helpful votes
July 19th, 2021

I hardly ever complain to a business, but when I can't access funds for over a trading week, and then have no access to sales, trades, or option premium until it is settled too, and then contact support that either can't add, can't understand simple call options, or can't understand the problem... its a complete waste of human employment. In addition, I will not trade there anymore because each deposit or trade has to cure (settle) 6 trade days before I can access funds. NO WAY!... The chat session was over one hour total. I was trying to close an option with sufficient cash in the account but could not for a couple of days. It expires today so it will close on its own, but the protocol that sets fidelity aside from all other brokerage firms is that you are promised to use unsettled cash as deposited, however the unsettled cash cannot actually be used in any way other than trading stocks above 3 dollars, otherwise even if you deposit more cash, that too can't be used for six trading days. Fidelity is not worth the trouble as none of my other accounts do that. I could not close a position until the days have passed because of it. One of the reps that helped me also did not understand how options worked; she thought selling an option cost me money and went above my balance; it didn't. Their customer service is comparable to robinhood... and they dont have any! I think because the money was transferred out of my account last friday, and won't settle until next monday, that they are investing your money and delaying the time for a week and a day. Because chase bank said they transferred it last weekend but its still not settled and not useable on anything other than buying stock above three dollars. Fidelity sux - BUYER BEWARE!

Tip for consumers:
Choose a firm that credits your deposit after it leaves your bank; so far that's everyone BUT FIDELITY!

Thumbnail of user ellef16
2 reviews
0 helpful votes
July 20th, 2023

Upon Fidelity pitching us to stay with them when planning to open a self-directed rollover IRA, we inquired whether a specific investment fund was available. We provided the specific (CUSIP) codes and they confirmed that the REIT investment we were planning to invest in was available via their Self-directed or Roll-Over IRA. A few weeks after opening the account, upon funding and completing all the documentation and paper, only then did they return stating that it's not available to invest in without $1 million minimum investment holdings at Fidelity. Now we will lose weeks of interest, and time as we must open up a different SD-IRA with another investment co., await account transfer and funds to clearing before we can begin the investment process again. Zero accountability from Fidelity, barring a response that this will be a coaching opportunity for them, and sorry for the misinformation. And for the customer --- no solution except to pick a different investment that they offer. Overall, misinformation, poor representation, lack of accountability, transparency, and knowledge -- a terrible mix when relying on or trusting an investment co.

Tip for consumers:
Investors beware

Products used:
Roll Over IRA

Service
Value
Quality
Thumbnail of user derrickn55
1 review
0 helpful votes
December 16th, 2023

Still advertising online and attending forex expo to trick people, G L O B A L S C A M H U N T N E T gave me an aid

Service
Value
Quality

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