Abstract：Fidelity Investments has been grabbing attention of late for negative reasons. These include complaints concerning withdrawals, account closure without notice, technical glitches in trade order processing, and inept customer support service. As the complaints continue to grow, we prepared a Fidelity review article showcasing some of them. Read on as we share details.
Fidelity Investments has been grabbing attention of late for negative reasons. These include complaints concerning withdrawals, account closure without notice, technical glitches in trade order processing, and inept customer support service. As the complaints continue to grow, we prepared a Fidelity review article showcasing some of them. Read on as we share details.
Fidelity - Product Portfolio & Trading Platform
Fidelity Investments is a full-fledged brokerage house with services across a wide range of instruments, including stocks, cryptocurrencies, mutual funds, bonds, CDs, options, etc. For traders, it offers Fidelity Trader+Web and Fidelity Trader+. Fidelitys trading platforms are available across mobile, web and desktop applications. As an experienced brokerage house, Fidelity not only promises exciting trade opportunities but also offers insightful updates on several investment products on its platform.
While these seem impressive, the latest complaints against the broker tell a different story. Check out the complaints as we present them to you below.
Investigating the Top Trading Complaints Against Fidelity
Endless Withdrawal Delay Accusation Against Fidelity
A Germany-based trader recently highlighted the sufferings caused due to endless withdrawal delays by the broker and the numerous excuses given by its official to support this alleged move. The trader stated having taken support from a legal firm to recover the stuck funds. While investigating the complaints, we found this Fidelity review. Take a look.
A Similar Withdrawal Denial Complaint
After a good experience, where the trader received confirmation through emails on trading activities, came the worst one on the withdrawal application. The broker remained silent on it with zero communication, as alleged by the trader. Suspecting a potential fund trap, the trader shared this Fidelity review that sums up his overall experience with the broker.
Tax & Liquidity Fees on Withdrawals
This complaint talks about a trader who was encouraged to invest a large amount on the back of a promise that withdrawals would become easier then. However, the real-time experience turned out different for the trader as he was asked to pay taxes & liquidity fees on withdrawals. Felt deceived, the trader took help from a legal firm to recover the stuck funds. The attempt turned successful for the trader, as per this screenshot. Have a look!
The Account Closure Allegation Against Fidelity
A trader from the US was left stunned after Fidelity closed his account without any prior explanation or notice. The trader admitted having lost a big trade opportunity because of this restriction. Going back, the trader earned on the platform and invested heavily into stocks and was approved for options trading too. However, the latest account closure move by the broker undid the trader‘s gains. This critical Fidelity review is worth reading, given a massive change in the trader’s perception about the broker over time.
Trading Losses After Platform Glitch on Fidelity Investments
Another US-based trader reported a serious technical malfunction on the Fidelity platform where buy orders were confirmed as filled, but the purchased shares did not appear in the account positions for nearly an hour. As a day trader, this delay prevented timely selling within the intended price window, leading to substantial financial losses after the stock price dropped. Although customer service acknowledged a platform-wide issue, the trader expressed frustration over the lack of accountability, compensation, or meaningful support, calling the situation unacceptable for a major brokerage firm. Disappointed by the lack of reflection on the Fidelity login, the trader shared this negative review online.
Missing Wire Transfer & No Clear Resolution from Fidelity Investments
A user recently reported having sent a wire transfer from his cash investment account. However, the funds never reached the receiving bank. Fidelitys system reportedly showed no federal tracking reference number, making it difficult to trace the transaction. Despite repeated follow-ups with customer service, no resolution was offered, leaving investments trapped and causing significant frustration. To know more about it, check this Fidelity review.
Poor Customer Support Service Accusation Against Fidelity
Several traders have complained about the broker‘s customer support team, which, according to them, lacks professionalism. As per an accusation, the support team remained rude and pressured the trader into following advisors without their consent. The trader even alleged that the team constantly changed appointments without informing him. While many of the broker’s tools promised healthy returns, the traders account was left in the red, causing further frustration and this negative Fidelity review.
No Account Corrections by the Customer Support Team
Writing this complaint, the trader expressed frustration over no corrections made by the customer support team for the errors it committed on the account despite following up with it for a month. The trader even questioned the lack of training for the support team based on the conversations with them. Concerned by the lack of response on the account status, the trader made this complaint public.
Fidelity Review by WikiFX: The Broker‘s Regulatory Status and Score Update
While the complaints against Fidelity Investments are serious and deserve attention, especially from the broker’s top management, it is regulated in Japan, as shown on WikiFX, an independent broker regulation inquiry app. These complaints, if they continue to grow, can result in a poor score for Fidelity. As of now, the WikiFX team has assigned it a respectable 7.09 out of 10.
