Fidelity makes money for it's subscribers
Written: Dec 24 '99 (Updated Jan 03 '00)
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Product Rating:
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Pros: tremendous facilities, well organized, reliable
Cons: none to speak of
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| edd777's Full Review: Fidelity Investments |
I’ve had an IRA account with Fidelity since about 1985 and I’ve traded stocks and mutual funds on-line through Fidelity Investments for about 3 years. In 1999, I have made approximately 90 on-line stock trades within my IRA through Fidelity. I prefer to trade stocks, which usually end up being short-term investments, through the IRA account due to tax considerations. I have never seen Fidelity’s server overload or die, had a trade go bad or fail to execute as expected
Market orders for NYSE and NASDAQ stocks are a snap and usually turn around in a matter of 5 to 10 seconds, whereas market orders for NASDAQ BB (bulletin board) stocks can take several minutes and sometimes much longer, due to thin trading volume. Limit orders are another matter…often taking hours to execute, and many times, even with what I think is a very reasonable limit price, never execute at all. I don’t think these problems are originating with Fidelity however. A more likely culprit is the NASDAQ automatic trading software that seems to give preferences to everyone but me. I rarely use the limit order feature as a result.
Fidelity’s website is well organized and easy to navigate. One feature I especially like is the ability to get virtually real-time trade confirmations, with the total cost of the trade identified, including SEC fees on sales. Monthly statements are also easy to read and understand. Transactions are clearly identified, along with all costs of the trade. The on-line research facilities are first rate, with interactive screening tools designed to narrow your investment choices based on criteria you establish.
The Fidelity Ultra Service is for non-IRA (not tax deferred) type accounts and offers all sorts of features like stock and mutual fund trading, margin accounts, check writing on your cash balances, a credit card, automatic bill payment…and assets in your account are insured up to $500,000.
Fidelity is a winner. Have a look at http://www400.fidelity.com for more information. Good trading!
Recommended:
Yes
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Epinions.com ID:
edd777
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Reviews written: 19
Trusted by: 15 members
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