Fidelity Review 2026

Fees

• Stock commission: £7.50 per online share, ETF or investment trust deal (£30.00 by phone); £1.50 for regular savings plan trades and dividend reinvestment; funds free
• Withdrawal: Free to a linked UK bank account
• Inactivity: None
• Currency conversion: Tiered FX charge on international shares and non-sterling funds, applied per deal: 0.75% on the first £10,000, 0.50% on the next £10,000, then 0.25% above £20,000
• Custody and spreads: Service fee 0.35%, falling to 0.20% once you hold £250,000 or more - the rate applies to your whole balance, not just the slice above the threshold, so £300,000 costs 0.20% of the full amount. Charged on the first £1m only, giving a £2,000 annual maximum across all your personal accounts. £7.50/month flat below £25,000 without a regular savings plan; capped at £90/year for shares and ETFs in an ISA or SIPP, and not charged at all on shares and ETFs held in an Investment Account

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Who Fidelity is best for

Fidelity suits fund investors who want a very large range with in-house research, and ETF or share investors who can use the £90 cap in an ISA or SIPP, or hold exchange-traded investments in an Investment Account where the service fee is nil. It is a weaker fit for active share dealers, because £7.50 per trade is one of the highest online dealing charges, and for small accounts: below £25,000 without a regular savings plan the flat £7.50 a month is £90 a year, which on a £5,000 pot is 1.8% before you buy anything.

Fidelity fees in plain English

The service fee is banded, not tiered: 0.35% a year up to £250,000, and 0.20% on the whole balance once you hold £250,000 or more, so £300,000 pays 0.20% of the full amount. It is charged on the first £1m only, giving a £2,000 annual maximum across your personal accounts. Accounts under £25,000 with no regular savings plan pay a flat £7.50 a month instead. In an ISA or SIPP the service fee on shares, ETFs and investment trusts is capped at £90 a year; in an Investment Account it is not charged on those holdings at all, while funds pay the full rate everywhere. Dealing is £7.50 per online share, ETF or investment trust trade (£30 by phone), £1.50 for regular savings plan trades and dividend reinvestment, and free for funds. Currency conversion on international shares and non-sterling funds is tiered per deal: 0.75% on the first £10,000, 0.50% on the next £10,000, then 0.25% above £20,000. There is no withdrawal fee and no inactivity fee, and you can start from £25.

ISA and SIPP: the £90 cap in practice

Hold £100,000 of ETFs in a Fidelity ISA and the service fee is £90 for the year, not the £350 that 0.35% would imply. The same £100,000 in funds pays the full £350. That one rule turns Fidelity from a mid-priced percentage platform into a cheap home for a large ETF or investment-trust portfolio inside a tax wrapper, as long as you trade rarely enough that £7.50 a deal does not eat the saving. Twelve trades a year add £90, the same again.

The Investment Account: no service fee on shares and ETFs

Once your £20,000 ISA allowance is used, shares, ETFs and investment trusts held in Fidelity's Investment Account pay no service fee at all; the only cost is the £7.50 dealing charge when you buy or sell. Funds in the same account still pay the banded service fee with the £7.50 monthly floor and £2,000 cap. For a buy-and-hold ETF investor with money outside a wrapper, that is as cheap as holding gets on a mainstream UK platform.

Safety and regulation

Fidelity is authorised and regulated by the FCA, and client assets are held separately from the firm's own. Eligible investments are covered by the Financial Services Compensation Scheme up to £85,000 per person if the firm fails. Fidelity International dates to 1969 and is one of the largest fund managers in the UK. As always, protection covers firm failure, not falls in the value of what you hold. Capital at risk.

How Fidelity compares on cost

Against AJ Bell, which caps its charge on shares and ETFs at £42 a year in an ISA or dealing account (£120 in a SIPP), Fidelity's £90 ISA cap is dearer, but Fidelity's nil service fee on exchange-traded holdings in an Investment Account beats both. Against the app brokers, Trading 212, InvestEngine and Lightyear charge no platform fee at all and far less per trade, so an ETF investor who does not need Fidelity's fund range or research pays less there. For a pure fund investor the 0.35% rate sits well above the cheapest platforms. Our fee calculator prices all of them against the portfolio you actually hold.