Fidelity IRA Review
Fidelity Investments is a top choice for retirement saving. It offers many IRA options and useful tools for both self-directed and advised accounts.
Fidelity IRA Overview
Fidelity offers SEP, SIMPLE, Roth, Traditional, Minor, and Inherited IRAs. Inherited IRAs can use the Roth tax setup if you choose. The Minor IRA is only available as a Roth.
You can open multiple IRAs under one tax ID and manage them, plus any taxable accounts, with a single login.
Fidelity IRA Minimums and Fees
Fidelity IRAs have no fees or minimum balances. You can open an account without a deposit, and you won’t pay annual, maintenance, or closeout fees.
Like other discount brokers, Fidelity has $0 commissions on online trades of U.S. stocks and ETFs. This applies to IRAs too.
Tradable Assets
You can trade most of the same assets in an IRA as in a regular account. At Fidelity, this includes:
- Options
- Mutual funds, ETFs, and closed-end funds
- Stocks (including OTC and some foreign exchanges)
- Bonds and other fixed-income products
Using Fidelity’s fund screener, we found 460 target-date mutual funds. These funds shift to safer investments as they near their retirement date.
IRA Modes at Fidelity
You can open a Fidelity IRA as self-directed or managed. Managed options include a robo service and traditional advice plans.
While IRAs themselves are free, managed services cost extra. Fidelity Go® charges 0.35% per year on balances over $25,000; below that, it’s free.
Self-directed IRAs can trade all the assets listed above. Managed IRAs trade only a small number of no-fee Fidelity funds.
Opening an IRA at Fidelity
Opening any Fidelity IRA is straightforward on the website or app. On the site, click “Open an Account,” then choose Roth or Traditional, or view all account types. On the app, tap More (three dots), find “Open an Account,” and follow the steps.
Fidelity Rollover Service
Fidelity has a clear link to open a Rollover IRA on both the site and app. This moves your old employer plan into a Fidelity IRA.
A rollover transfers your 401(k) or other qualified plan into a new or existing Fidelity IRA. Just click the Rollover IRA link and follow the on-screen steps.
To complete a rollover, contact your old plan’s HR department and ask them to send paperwork or funds to:
- Fidelity Investments
- ATTN: Corporate Rollovers Department
- 100 Crosby Parkway KC1H
- Covington, KY 41015-0037
If they send a check, make it payable to “Fidelity Management Trust Company, FBO [Your Name]” and include your Fidelity IRA number on the memo line.
You can also wire funds. Give your plan administrator these 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 | All account owners (include IRA type) |
| For final credit to | Your Fidelity account number |
| Address | 383 Madison Avenue
New York, NY 10017 |
If your 401(k) is already at Fidelity, you can roll it over yourself through NetBenefits®.
IRA Transfer
It’s much easier to move an IRA from another brokerage into Fidelity. This is a trustee-to-trustee transfer, which means the IRA moves directly from one firm to another with minimal paperwork.
To do this, open a Fidelity IRA and request an asset transfer from your old IRA. You can start the request on Fidelity’s website or mobile app.
On the website, hover over Accounts & Trade in the top menu and click Transfers. Then choose the option to deposit, withdraw, or transfer money.
On the next page, select the From field, pick “Transfer an account to Fidelity,” fill in the details, and submit. You may need your old IRA’s account number, which you can find on a statement from your previous broker.
In the mobile app, go to the Transact tab, tap Transfer, select “Transfer investments from another firm,” and complete the same form.
Moving a Roth IRA into a Roth IRA or a Traditional IRA into a Traditional IRA has no tax impact. Converting a Traditional IRA to Roth could have tax consequences, so talk to a tax professional before you start.
Your old broker may charge a transfer fee. Fidelity will reimburse that fee if your transfer is $25,000 or more.
Contributions and Withdrawals
Once your Fidelity IRA is open, adding or taking out money is simple. Fidelity offers several funding methods on its website and app.
On the website, click the Transfer link in the top-left corner. You can use ACH or PayPal to move money into your IRA. You can also wire funds or transfer from another Fidelity account.
In the app, use the mobile check deposit tool under Transact, or make an ACH deposit. The PayPal option isn’t available in the app.
You can set up a monthly deposit schedule. Fidelity tracks your yearly contributions automatically.
To withdraw, link a bank account first. Then request a withdrawal online. You can take out up to $100,000 per day.
You can lock down your IRA to prevent withdrawals. Go to the Security Center under Accounts & Trade and turn on lockdown mode.
Limited Margin
Federal rules prohibit full margin in IRAs, but some brokers, including Fidelity, offer limited margin. This lets you trade with unsettled funds, enabling day trading.
To add limited margin, go to Accounts & Trade → Account Features. Under Brokerage & Trading, click Limited Margin and follow the steps.
Retirement Advice
IRA customers in Fidelity’s robo program get free phone calls with advisors if their balance is at least $25,000. These advisors specialize in retirement planning.
Traditional wealth management is also available with higher fees and minimums. These packages include a dedicated advisor focused on retirement. Compare Fidelity’s rates to other local advisors: financial advisors in your area charge.
Retirement Education
If you manage your own IRA, Fidelity’s website has a large library of retirement resources. Start on the retirement planning page under Planning & Advice.
Under News & Research, look for Saving for Retirement. 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 offers calculators and tools for IRAs and retirement planning.
Best IRA Accounts
Other Financial Services
Fidelity also offers annuities, long-term care insurance, and life insurance options that IRAs can purchase.
Fidelity IRA Review Assessment
With so many IRA tools and resources, Fidelity is one of the best places to open an IRA.
Find a Financial Advisor
If you are looking for a professional money management service in your area, you can
find a Financial Advisor on the Wiser Advisor.
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Updated on 4/8/2025.
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