Fidelity does not charge per-trade commissions for stocks, ETFs, or options on its standard brokerage accounts

Fidelity eliminated per-trade commissions in 2019. When you buy or sell stocks or exchange-traded funds (ETFs) through a Fidelity brokerage account, you pay no commission to Fidelity itself. The same applies to options trades — Fidelity charges no per-contract fee.

This does not mean trades are entirely free. You may encounter other costs depending on what you trade and how you trade it. Mutual funds, bonds, and certain other securities have their own fee structures. And some trading methods or account types carry different rules.

Key Takeaways

  • Stock and ETF trades carry no commission on Fidelity brokerage accounts, whether you trade online or by phone.
  • Options trades also carry no per-contract commission, though the bid-ask spread still applies.
  • Mutual funds sold through Fidelity may carry sales loads or transaction fees depending on the fund and whether it is a Fidelity fund or a third-party fund.
  • Bonds purchased through Fidelity include a markup that Fidelity does not separately disclose as a fee.
  • Margin accounts and certain retirement accounts have different fee structures; check your account type to confirm.

What you actually pay when you trade stocks or ETFs

When Fidelity says there is no commission, it means Fidelity takes no fee from you for executing the trade. But you still encounter the bid-ask spread — the difference between what buyers are willing to pay and what sellers are asking. This spread goes to the market, not to Fidelity, and it varies by stock or ETF. A highly traded stock like Apple might have a spread of a penny or two per share. A thinly traded ETF might have a spread of several cents.

You also pay any fees your bank or payment processor charges if you transfer money into or out of your Fidelity account, though Fidelity itself does not charge for transfers between Fidelity and most U.S. banks.

Mutual fund transaction fees and sales loads

Mutual funds work differently from stocks. Fidelity charges transaction fees on many mutual funds, especially those from other companies. A Fidelity mutual fund typically has no transaction fee. A mutual fund from Vanguard or another provider may carry a fee of $49.95 or more per transaction when you buy it through Fidelity.

Some mutual funds also carry sales loads — upfront or back-end charges that go to the fund company, not to Fidelity. These are built into the fund's prospectus and apply whether you buy through Fidelity or anywhere else. Fidelity's website shows which funds carry loads and what the cost is before you buy.

Bond purchases and markups

Bonds do not have a commission structure like stocks do. Instead, Fidelity adds a markup to the price of the bond when you buy it, or a markdown when you sell. Fidelity does not itemize this as a separate fee on your trade confirmation — it is built into the price you see. The markup varies by bond type and market conditions. Treasury bonds typically have smaller markups than corporate or municipal bonds.

If you want to know what markup Fidelity charged on a specific bond trade, you can call Fidelity's bond desk and ask. They can tell you what the bond cost them and what they charged you, though they are not required to disclose this before you trade.

Account types that may have different fees

Most Fidelity brokerage accounts — individual, joint, IRA, and 401(k) rollovers — follow the same commission-free structure for stocks and ETFs. Some account types have restrictions or additional fees:

  • Fidelity Go (automated investing) charges an annual advisory fee of 0.35% of assets under management, separate from any trading commissions.
  • Fidelity Wealth Services (managed accounts) charges advisory fees starting around 0.50% annually, depending on account size.
  • Margin accounts charge interest on borrowed money at rates that vary based on the amount borrowed and current market rates.
  • Certain retirement accounts may have annual maintenance fees if the account balance falls below a threshold, though Fidelity often waives these for electronic statements.

Options trading costs

Fidelity charges no per-contract commission on options trades. You pay the bid-ask spread on the option itself, which can be wider than the spread on the underlying stock, especially for less-traded options. Some options strategies also trigger multiple trades — for example, a spread involves buying one option and selling another — but each leg counts as one trade with no separate commission.

If you trade options on margin (borrowing to fund the trade), you also pay margin interest on the borrowed amount. The interest rate depends on how much you borrow and Fidelity's current margin rates.

How to check fees before you trade

Fidelity's website shows transaction fees for mutual funds before you buy. Search for the fund by name or ticker, and the fee (if any) appears on the fund detail page. For stocks and ETFs, the fee is always zero, but you can see the current bid-ask spread by looking at the real-time quote.

For bonds, Fidelity does not show the markup in advance. You see the price Fidelity is offering, and that price includes the markup. If you want to compare, you can call the bond desk and ask what the markup is before you commit to the trade.

Frequently Asked Questions

Does Fidelity charge to buy and sell stocks?

No. Fidelity charges no commission on stock trades. You pay the bid-ask spread, which is the difference between the buy and sell price in the market, but that is not a Fidelity fee.

Are there any hidden fees I should know about?

There are no hidden per-trade commissions. However, mutual funds may carry transaction fees or sales loads, bonds include a markup in the price, and certain account types (like Fidelity Go) charge annual advisory fees. Check the fund prospectus or account terms before you open an account.

Do I pay a fee to transfer money into my Fidelity account?

Fidelity does not charge for electronic transfers from most U.S. banks. Your bank may charge a fee on its end, but Fidelity's side is free. Wire transfers and transfers from non-U.S. banks may have different rules.

What about options — do they cost more than stocks?

Options carry no per-contract commission at Fidelity, just like stocks. The bid-ask spread on options is often wider than on stocks, so your actual cost per trade may be higher, but that is market-driven, not a Fidelity fee.

If I use a financial advisor at Fidelity, do I still pay no commissions?

Fidelity's advisory services (Fidelity Go and Fidelity Wealth Services) charge annual advisory fees instead of per-trade commissions. You do not pay commissions on individual trades, but you pay a percentage of your assets each year for the advisory service.