Fidelity Bitcoin, Ethereum, Dogecoin Crypto-currency Trading (2021)


Fidelity BAT, Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Ethereum, Litecoin, NEO, Ripple, and Stellar crypto currencies trading account in 2021.



Cryptocurrency Trading at Fidelity


Investors who are looking to trade popular cryptocurrencies, such as BAT, Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Ethereum, Litecoin, NEO, Ripple, Stellar, cannot do it on Fidelity. The broker simply does not offer them. For Ethereum, Bitcoin, Bitcoin Cash, Litecoin, Dash, Zcash, Stellar, and Dogecoin trading, investors can use a $0-fee Webull. For all other coins we recommend using Coinbase.


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Is Fidelity Good Company for Long-Term Investors?


The price of trading isn't that important to buy-and-hold investors because they don't trade that often anyway. They will instead want to see better customer service and financial planning resources. Fidelity certainly has both. The broker offers 24/7 customer service over the phone and through on-line chat. There are more than 180 Fidelity locations throughout the U.S. Fidelity associates have a history of being well trained, too.

Many financial services are also available from the broker, including free stock reports and portfolio management services. Several other brokers, including Firstrade and Vanguard, don't have the same level of investment services. Despite all of Fidelity's amenities, the broker manages to charge a low $0 commission. Schwab, by comparison, charges $0, and TD Ameritrade customers pay $0.

Mutual funds are popular with long-term traders, and Fidelity has a good selection of them. The broker's fund screener generates 11,500 products. Of these, roughly 1,800 have neither load nor transaction fee. Merrill Edge has more no-load, no-transaction-fee funds, while Capital One Investing has fewer.

Fidelity performs fairly well here.


Is Fidelity Good Company for IRA's?


Retirement savers can open several different IRA types at Fidelity, including Traditional, Roth, SEP, SIMPLE, Rollover, Inherited, and Minor Roth varieties. There are ten IRA's at E*Trade, while Firstrade customers can choose from just five.

There is a lot of information on Fidelity's website devoted to retirement issues. Articles, videos, and self-guided courses cover topics such as creating a retirement plan and securing a stream of income. The broker also has several IRA calculators, including one that determines the amount of money that must withdrawn from a Traditional account per year under IRS guidelines.

A Fidelity IRA comes with no annual, low-balance, or maintenance fees. However, the broker does impose a $50 charge for closing an IRA. Some other brokers, such as TD Ameritrade, don't charge a fee to close a retirement account. On the other hand, E*Trade IRA's carry several fees, while an Interactive Brokers IRA comes with a $7.50 quarterly fee. Fidelity doesn't require a minimum deposit to open a retirement account. Schwab, by comparison, requires $1,000 to open an IRA.

Fidelity does pretty well here.


Is Fidelity Scam


Is Fidelity Good Firm for Beginners?


Beginning traders can benefit from a good supply of learning materials. The Fidelity website has an excellent selection of resources on a section called Learning Center. Here, investors will find a very large assortment of articles, videos, infographics, and courses on a wide range of topics. These include technical analysis, trading in options, and bond investing. There are also materials on issues beyond the world of securities, including college planning, commodities, and charitable giving. Fidelity's educational resources can be sorted by experience level, one option of which is beginner. Fidelity also operates live on-line webinars. An upcoming one discusses how to write covered calls. Older webinars are archived on Fidelity's website. Most other brokers, including OptionsHouse and WellsTrade, don't have nearly as much learning material.

Unfortunately, Fidelity does not offer paper trading. This would allow new investors the opportunity to practice trading before committing real money. TD Ameritrade and optionsXpress do offer this useful feature. On the other hand, Fidelity provides 84 ETF's that can be traded free of charge. This would be an opportunity for new investors to practice trading without paying commissions. Scottrade, by comparison, doesn't have any commission-free ETF's.

Fidelity seems adequate here.


Is Fidelity Safe


Is Fidelity a Good Choice for Active Traders and Shorting Stocks?


Frequent traders especially need a low trading commission and a good platform. Fidelity's $0 charge for stock and ETF trades. Fidelity's additional charge of 65¢ for derivative contracts is the industry norm. Tradestation is lower at 50¢.

Fidelity does offer an advanced trading platform called Active Trader Pro. It comes with pretty steep requirements, though. At least 36 trades must be placed per year in order to access the software. This is a stricter requirement than Schwab, who only requires a $1,000 account balance. Merrill Edge requires 60 trades per year to use its trading software. TD Ameritrade is one of the few brokers to offer a sophisticated platform with no strings attached.

Shorting stocks requires margin, and Fidelity has competitive margin rates. A loan under $10,000 right now costs 8.825%. Currently, Capital One Investing customers pay 8.2%, and WellsTrade charges 9.5%.


Recap


Fidelity is a good overall value in financial services. The broker also does well in specific areas, especially those that require customer service options and educational resources.