Fidelity IRA Review
When it comes to saving for retirement, Fidelity Investments is a strong contender. In addition to offering a wide selection of IRA options, it also provides a robust set of self-directed tools and advisory services that can be very useful for retirement planning.
Fidelity IRA Overview
Fidelity provides six types of IRAs: SEP, SIMPLE, Roth, Traditional, Minor, and Inherited. The inherited IRA can be structured as either Traditional or Roth, depending on the situation. The Minor IRA is only available as a Roth account.
Investors can open multiple IRAs at Fidelity under a single tax ID, and all accounts—including taxable ones—can be accessed and managed through a single login.
Fidelity IRA Minimums and Fees
Fidelity does not require a minimum balance to open or maintain an IRA. There are no annual, maintenance, or closeout fees for these accounts.
Like other major discount brokers, Fidelity offers $0 commissions for online trades of U.S.-listed stocks and ETFs, and this pricing applies to IRA accounts as well.
Tradable Assets
In general, the same investments available in taxable accounts can also be traded inside an IRA when using a self-directed setup. At Fidelity, this includes:
- Option contracts
- Funds (mutual funds, ETFs, and closed-end funds)
- Stocks (including OTC securities and some international equities)
- Bonds and other fixed-income products
Using Fidelity’s mutual fund screener (available on the website but not the mobile app), we identified 460 target-date mutual funds. These funds are specifically designed for retirement investing and gradually shift to more conservative allocations as the target retirement date approaches.
IRA Modes at Fidelity
An IRA at Fidelity can be opened either as a self-directed account or a managed account. Managed options are available in multiple formats, including a robo-advisor and several traditional advisory programs.
While IRAs themselves have no account fees, there are costs associated with portfolio management services. Fidelity’s robo-advisor, Fidelity Go®, charges 0.35% annually once the account balance reaches $25,000. Below that level, the service is free.
The broad list of tradable assets mentioned above applies only to self-directed accounts. Managed accounts offer a more limited selection. The robo-advisor primarily invests in a small group of Fidelity mutual funds that have no expense ratios.
Opening an IRA at Fidelity
Opening an IRA with Fidelity—whether self-directed or robo—is simple using either the website or mobile app. On the website, look for the option to open a new account near the top of the page. The next screen will display links for Roth and Traditional IRAs, with additional account types available through a separate link.
On the mobile app, tap the More icon (three dots) in the bottom menu. Then scroll down to find the option to open an account and follow the prompts to complete the process.
Fidelity Rollover Service
Fidelity provides a dedicated option for opening a Rollover IRA, which is available on both its website and mobile app.
This type of account allows you to move funds from a previous employer’s retirement plan—such as a 401(k) or another qualified plan—into an IRA at Fidelity.
To begin the rollover, simply select the Rollover IRA option and follow the instructions. If you already have an IRA at Fidelity, it can still be used to accept a rollover from a qualified plan. In that case, contact your previous employer’s plan administrator and request a transfer of funds into your Fidelity IRA.
The employer’s plan administrator may send paperwork to the following address:
- Fidelity Investments
- ATTN: Corporate Rollovers Department
- 100 Crosby Parkway KC1H
- Covington, KY 41015-0037
If the plan distributes cash, a check can be used and should be made payable to “Fidelity Management Trust Company, FBO [your name],” with your IRA account number listed on the memo line.
Funds can also be transferred via wire. The plan administrator will need the following details:
| Wire funds to | J.P. Morgan Chase, NY |
|---|
| Routing number | 021000021 |
| For credit to | National Financial Services LLC |
| Account number | 066196–221 |
| For the benefit of | List all owners on the Fidelity account (for IRAs, also include contribution type here). |
| For final credit to | Your account number (letters included if applicable) |
| Address | 383 Madison Avenue
New York, NY 10017 |
If your 401(k) is already held at Fidelity, you can complete the rollover directly through your NetBenefits® account.
IRA Transfer
Moving an IRA from another brokerage into Fidelity is generally simpler than transferring an employer-sponsored plan. This process is known as a trustee-to-trustee transfer and avoids employer involvement.
To initiate the transfer, open a Fidelity IRA and request a transfer of assets from the current provider. This can be done through Fidelity’s website or mobile app.
On the website, hover over the Accounts & Trade tab and select Transfers. Then choose the option to deposit, withdraw, or transfer money.
On the next page, select “Transfer an account to Fidelity” from the From field. Enter the required information and submit the request. You may need details such as the existing IRA account number from your current brokerage.
The same process can be completed on the mobile app by going to the Transact tab and selecting Transfer, then choosing “Transfer investments from another firm.”
Transferring between identical IRA types (e.g., Roth to Roth or Traditional to Traditional) generally does not trigger taxes. However, converting a Traditional IRA to a Roth IRA may create a tax liability. It’s best to consult a qualified tax advisor before proceeding.
The outgoing brokerage may charge a transfer fee. Fidelity may reimburse this fee if the transferred amount is $25,000 or more.
Contributions and Withdrawals
Once your Fidelity IRA is open, adding or withdrawing funds is straightforward. Funding can be done through several methods available on both the website and mobile app.
On the website, start with the Transfer link at the top of the page. Available funding methods include ACH transfers and PayPal. Funds can also be added via wire transfer or internal transfer from another Fidelity account.
On the mobile app, you can deposit checks electronically using the Transact tab. ACH transfers are also supported, although PayPal is not available through the app.
You can set up recurring contributions, such as monthly deposits, and Fidelity will track your total annual contributions automatically.
Withdrawals can be initiated online once a linked bank account is established. A maximum of $100,000 per day can be withdrawn from a Fidelity IRA.
Fidelity also offers a lockdown feature that prevents withdrawals. This can be enabled through the Security Center on the website.
Limited Margin
Federal rules do not allow full margin trading inside an IRA, but some brokers—including Fidelity—offer limited margin. This feature allows trading with unsettled funds, which can make more active strategies such as day trading possible.
Adding limited margin can be done through the Accounts & Trade tab by selecting Account Features and then enabling the limited margin option.
Retirement Advice
Clients using Fidelity’s robo-advisor service can access phone consultations with financial advisors once their balance reaches $25,000. This can be valuable, as retirement planning is a key focus of these advisors.
Traditional advisory services are also available with multiple tiers, some of which include a dedicated advisor. These services generally require higher balances and come with higher fees. You can compare Fidelity’s pricing with other
financial advisors in your area.
Retirement Education
Fidelity offers a large library of educational resources for self-directed investors. These can be found in multiple areas of the website. A good starting point is the retirement planning section under the Planning & Advice tab.
Under the News & Research tab, there is a personal finance section focused on retirement saving. Some examples include:
- Getting started with IRAs
- Traditional or Roth account? 2 tips to help you choose
- 7 things you may not know about IRAs
Fidelity also provides a range of calculators and planning tools, some specifically designed for IRA and retirement scenarios.
Other Financial Services
Fidelity offers annuities that can be held within IRAs. It also provides access to long-term care insurance and life insurance products.
Fidelity Top Competitors
Fidelity IRA Review Assessment
With its extensive lineup of IRA options, tools, and educational resources, Fidelity stands out as one of the top choices for opening an IRA.
Written by Alex Bost
Updated on 4/22/2026.
|