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Fidelity® Investments is one of the largest online brokers in the world, with more than 43 million investors and $11.7 trillion in assets under administration. So, if you're looking for a new investment account, Fidelity is one to consider.

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Whether you're new to investing or you're looking to switch from your existing brokerage firm, the Fidelity Starter Pack℠ includes two accounts with no account fees or minimum balance to get started. Additionally, you can earn a $100 reward as an incentive to open the accounts. Here's what you need to know about the Fidelity Starter Pack before you apply.

Fidelity Starter Pack Review

The Fidelity Starter Pack is a bundle of accounts that provides you with The Fidelity Account®, a basic brokerage account for investments*, and a Fidelity® Cash Management Account, a brokerage account which functions similarly to both a checking account and a high-yield savings account.

Here's what you can expect from the Starter Pack.

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Fidelity Starter Pack Reward

When you open a Fidelity Starter Pack, use the promo code FIDELITY100, and you'll receive $100 when you deposit $50 or more into the account within the first 15 days. The brokerage firm will deposit the reward into your account within 25 days of opening.

Even if you're not interested in the Starter Pack, you can still earn the reward if you follow the same rules when opening any of the following accounts individually:

  • The Fidelity® Account
  • Fidelity® Cash Management Account
  • Fidelity Go®
  • Roth IRA
  • Traditional IRA

The Fidelity Account

The Fidelity Account is a low-cost brokerage account that includes a suite of features for all kinds of investors. Here are some of the features to know about.

Fees

Like many other online brokers, Fidelity offers commission-free trading with The Fidelity Account. That includes no commission for online U.S. stocks, exchange-traded funds (ETFs), and options.1 There's also no annual account fee.

Note, however, that there is a fee of $0.65 per options contract. Sell orders are also subject to an activity assessment fee, which typically ranges from $0.01 to $0.03 per $1,000 of principal.

There is also an Options Regulatory Fee that applies to both option buy and sell transactions. The fee is subject to change.

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Investment Options

The brokerage account offers a variety of investment options, including:

Fidelity offers fractional shares, which allows you to buy U.S. stocks and ETFs for as little as $1, making it easier for beginner investors to get started and for all types of investors to achieve a more diversified portfolio.

Other Account Features

Fidelity offers a variety of features and resources, including:

  • Free, independent market research from more than 20 providers
  • An accuracy-weighted score to help you evaluate stock picks
  • Customized alerts and watch lists
  • Margin trading
  • International investing in 25 markets and 16 currencies
  • Extended-hours trading
  • Advanced tools for active traders
  • 24/7 access to support

Fidelity® Cash Management Account

While it's technically not a checking account, the Fidelity Cash Management Account offers up to $5 million in FDIC insurance coverage on your uninvested cash balance by maintaining your deposits with FDIC-insured program banks.2,3 Here's what else to know about the account.

Fees and Interest

The account doesn't have any monthly account fees, and it also offers ATM fee reimbursements worldwide when you use ATMs with a Visa®, Plus®, or STAR® logo.4

Additionally, the account offers 2.72% APY on your balance. While that's not as good as what you'd get with some of the best high-yield savings accounts, it's still a nice perk.

Ready to save more?

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Other Account Features

The Fidelity Cash Management Account also offers other features to make it easy to manage your everyday spending and saving, including:

  • Debit card
  • Digital wallet compatibility
  • Mobile check deposit
  • Bill pay
  • Real-time spending reports
  • Check-writing privileges

Is the Fidelity Starter Pack Right for You? Consider the Pros and Cons

If you're thinking about opening a brokerage account and cash management account, here are some of the advantages and disadvantages to consider with the Fidelity Starter Pack.

Pros

  • Low costs: You don't need to worry about costly trading commissions or account fees. With no minimum balance requirement, you can also start small if you need to, and fractional shares make it easy to invest in your favorite stocks and ETFs with just $1.
  • Full of features: Despite their low cost, both accounts are chock-full of valuable features that can make it easy to both make good investment decisions and manage your everyday finances.
  • Mobile access: The Fidelity mobile app makes it easy to manage your money on the go, earning solid customer reviews. The app is available on Apple, Android, and Amazon devices.

Cons

  • Professional coaching requires high balance and additional fees: While Fidelity Go offers users access to a robo advisor free of charge, professional coaching doesn't unlock until your balance exceeds $25,000, at which point additional fees apply. This requirement is on the high end, and may be difficult for some new investors to achieve.
  • No separate checking and savings: If you like to keep your checking and savings balances separate to keep track of your savings goals, it might be difficult with this account.
  • No other banking products and services: If you like to have all of your everyday finances under one proverbial umbrella, it may make sense to get a checking and savings account with a bank or credit union that offers more financial products and services.

As you consider whether the Fidelity Starter Pack is the right fit for you, take some time to research and compare brokerage and cash management accounts from other top online brokerage firms. Consider your goals and determine which features and resources make the most sense for your situation.

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Disclosures

* Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., managed accounts) and comissions, interest charges, or other expenses for transactions may still apply.

1 Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read [Characteristics and Risks of Standardized Options](https://www.theocc.com/Company-Information/Documents-and-Archives/Options-Disclosure-Document). Supporting documentation for any claims, if applicable, will be furnished upon request.*

2 The Fidelity Cash Management account is a brokerage account designed for investing, spending and cash management. Investing excludes options and margin trading. For a more traditional brokerage account, consider the Fidelity Account.

3 The Cash Balance in the Fidelity Cash Management Account is swept into an FDIC-Insured interest-bearing account at one or more program banks and, under certain circumstances, a Money Market mutual fund (the "Money Market Overflow"). The deposits swept into the program bank(s) are eligible for FDIC Insurance, subject to FDIC insurance coverage limits. Balances that are swept to the Money Market Overflow are not eligible for FDIC insurance but are eligible for SIPC coverage under SIPC rules. At a minimum, there are 20 banks available to accept these deposits, providing for up to $5,000,000.00 of FDIC insurance. If the number of available banks changes, or you elect not to use, and/or have existing assets at, one or more of the available banks, the actual amount could be higher or lower. All assets of the account holder at the depository institution will generally be counted toward the aggregate limit. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring

4 Your Fidelity Cash Management account will automatically be reimbursed for all ATM fees charged by other institutions while using the Fidelity® Debit Card at any ATM displaying the Visa®, Plus®, or Star® logos. The reimbursement will be credited to the account the same day the ATM fee is debited. Please note, for foreign transactions, there may be a 1% fee included in the amount charged to your account.

BL

Ben Luthi

Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.