Fidelity Forex Trading Review: Is It The Right Platform For You?
Forex trading has gained more popularity over the years as individuals and companies look for ways to invest their money and gain high returns. Fidelity Forex Trading is one of the most reputable investment companies in the world that provides trading services to its customers. In this review, we will look at the services Fidelity Forex Trading offers, its fees and commissions, customer support, and other features.
What is Fidelity Forex Trading?
Fidelity Forex Trading is a trading platform offered by Fidelity Investments, one of the largest financial service providers in the world. Fidelity Investments provides a wide range of financial services, including brokerage, retirement planning, and investment management.
With Fidelity Forex Trading, customers can trade in over 25 currencies, including the US dollar, the Euro, the Japanese yen, and the British pound. The platform offers trading services around the clock, allowing customers to trade whenever they want.
Fidelity Forex Trading Features
Trading Platform
Fidelity Forex Trading provides a user-friendly trading platform that is easy to navigate. The platform offers advanced charting tools, risk management tools, and real-time market analysis, making it easy for customers to make informed decisions.
The platform supports various order types, including limit orders, stop-loss orders, and trailing stop orders. The platform also allows customers to set up alerts, notifying them about changes in the market.
Research and Analysis
Fidelity Forex Trading offers extensive research and analysis tools, including daily and weekly market reports, economic calendars, and trading ideas. The platform also provides access to news sources such as Reuters and offers real-time quotes on currency pairs.
Education and Support
Fidelity Forex Trading provides excellent customer support to its clients, offering online chat, email, and phone support. The platform also offers educational resources, including webinars, trading guides, and video tutorials, aimed at helping its customers trade successfully.
Account Types
Fidelity Forex Trading provides two types of accounts, a standard account, and a managed account. The standard account is suitable for customers who want to take an active role in trading. The managed account is ideal for customers who want Fidelity Forex Trading's professional traders to manage their trading accounts.
Fidelity Forex Trading Fees and Commissions
Fidelity Forex Trading charges a commission for each trade, with rates ranging from $9.95 to $32.95, depending on the trade size. The platform does not charge any inactivity fees or minimum deposit requirements.
Pros and Cons of Fidelity Forex Trading
Pros
- Fidelity Forex Trading provides a user-friendly trading platform that is easy to navigate and offers advanced charting tools.
- The platform provides access to extensive research and analysis tools, including daily and weekly market reports, economic calendars, and trading ideas.
- Fidelity Forex Trading provides excellent customer support, with options for online chat, email, and phone support.
- The platform offers a managed account option, allowing customers to entrust their accounts to professional traders.
- Fidelity Forex Trading offers educational resources, including webinars, trading guides, and video tutorials.
Cons
- Fidelity Forex Trading charges a commission for each trade, with rates ranging from $9.95 to $32.95, which can be costly for customers who trade frequently.
- The platform does not offer a wide range of tradable assets, limiting customers' options.
Conclusion
Fidelity Forex Trading is an excellent choice for customers looking for a user-friendly trading platform backed up by extensive research and analysis tools. The platform also provides excellent customer support, educational resources, and a managed account option, making it suitable for both beginner and experienced traders.
Overall, Fidelity Forex Trading offers a reliable and reputable forex trading platform that should be considered by anyone looking for a forex trading partner they can trust.