Fidelity International Review 2026: Free Fund Dealing, a Big Name, and a Mid-Table Bill

Score: 66/100. Rank 9 of 10. Verified 19 September 2026.

Cost 30%	Accounts 15%	Range 15%	Research 10%	App 10%	Cash 10%	Trust 10%
4.3	8	8	7	7	7	8

Verdict in one paragraph

Picture an investor with £60,000 in funds at Fidelity, drip-feeding £300 a month into three of them and switching occasionally. Every one of those transactions is free, and the 0.35% service fee is £210 a year. It feels reasonable, and for a fund investor under £250,000 who values a global brand, it is.

Where Fidelity loses ground in our model is everywhere else: £7.50 share dealing, 0.75% FX, and a 0.35% fee that only drops to 0.20% at £250,000. Its true 20-year cost for a £100,000 SIPP in ETFs is £8,958, in the same band as AJ Bell and Interactive Investor and well above the app-based platforms. Two quirks matter: exchange-traded investments are free of service fees in the general Investment Account, and Fidelity is one of the few platforms that will keep US-connected clients, on the condition they hold only shares and cash.

Who it is for

Fund investors with under £250,000 who want free dealing and a trusted name, and share or ETF investors who want to use the Investment Account, where exchange-traded holdings carry no service fee at all.

Fidelity International Fees

Item	Charge
Service fee on funds	0.35% under £250,000; 0.20% from £250,000 to £1m; nothing above £1m (maximum £2,000 a year)
Under £25,000 without a regular savings plan	Flat £90 a year (£7.50 a month) instead of 0.35%
Shares, ETFs, investment trusts in ISA or SIPP	0.35% (0.20% above £250,000), capped at £90 a year
Shares, ETFs, investment trusts in Investment Account	No service fee
Junior ISA and Junior SIPP	No service fee
Fund dealing	Free
Share dealing	£7.50 online; £1.50 for regular savings plan deals and dividend reinvestment; £30 by phone
FX	0.75% to £10,000, 0.50% to £20,000, 0.25% above
Interest on cash (from 1 September 2026)	2.30% ISA and Investment Account; 2.35% SIPP
Exit fees	None; Fidelity reimburses up to £500 of a previous provider's exit fees when transferring in

The fee is calculated on your total investments across all accounts, not per account, which is an advantage over Hargreaves Lansdown's per-account tiering.

Accounts

Stocks and Shares ISA, SIPP, Investment Account, Junior ISA, Junior SIPP, joint accounts, and a Cash Management Account for paying fees. Drawdown is available. No Lifetime ISA. International shares are not available in the Fidelity SIPP, an odd gap for a global manager.

Investment range

Thousands of funds including Fidelity's own, hundreds with negotiated discounts, plus UK and international shares, ETFs and investment trusts. Fidelity's Select 50 list and guidance tools help less confident investors choose.

Research and tools

Solid fund research, guidance tools and market commentary. Weaker on share analysis than HL, ii or IBKR, which is consistent with Fidelity's roots as a fund manager first.

The catches

• 0.35% until £250,000. Both AJ Bell (0.25%) and Interactive Investor (flat) are cheaper across the range we modelled for funds.

  
  

• £7.50 share dealing is the dearest of the ten alongside HL's £6.95.
  

• No international shares in the SIPP.
  

• The £90 flat fee for small accounts without a regular savings plan is 0.9% on £10,000; set up a monthly plan to avoid it.
  

• US persons can stay only if they hold individual shares and cash; funds, ETFs and other collectives are blocked, and existing holdings may have to be sold.
  

US citizens and US persons

Fidelity International applies restrictions to US-connected clients (citizens, green card holders, substantial-presence residents) that prohibit holding OEICs, unit trusts and UK or EU-domiciled ETFs on the platform. Individual equities, cash and certain bonds remain available. That makes Fidelity a usable, if limited, option for an American in the UK who wants a mainstream brand for a shares-only ISA or SIPP.

Trust

Fidelity International is privately owned, FCA-authorised and FSCS-covered, and one of the largest asset managers in the world. Trustpilot rates the UK platform around 4.4 on some 7,000 reviews.

Pros and cons

Pros: free fund dealing; household-wide fee tiering; no service fee on exchange-traded holdings in the Investment Account; 2.3% on cash; exit-fee reimbursement; will keep US-connected clients in shares. Cons: 0.35% on funds to £250,000; £7.50 dealing; 0.75% FX; no international shares in SIPP; no LISA; collectives blocked for US persons.

Frequently asked questions

What does Fidelity charge for an ISA? 0.35% a year on funds up to £250,000, 0.20% above, with shares and ETFs capped at £90 a year. Fund dealing is free; share dealing is £7.50.

Is Fidelity cheaper than Hargreaves Lansdown? Slightly, in every scenario we modelled: the same 0.35% headline but a lower ETF cap (£90 against £150), free fund dealing, cheaper FX, and tiering across all your accounts rather than per account.

Can a US citizen use Fidelity UK? Yes, with restrictions: shares and cash only, no funds or ETFs.

Sources

• Fees and charges: https://www.fidelity.co.uk/services/fees-charges/

• Charges summary: https://www.fidelity.co.uk/services/charges-fees

• International shares and FX tiers: https://www.fidelity.co.uk/international-shares/

• Cash interest (effective 1 September 2026): https://www.fidelity.co.uk/statutory-and-regulatory-disclosures/how-we-manage-your-cash/

• US-person restrictions: https://cameronjamesusa.com/fidelity-pfic-restrictions-what-us-connected-us-persons-need-to-know/

• Trustpilot: https://uk.trustpilot.com/review/www.fidelity.co.uk

Alpesh Patel is a fund manager and the founder of Campaign for a Million. This page is information and opinion, not a personal recommendation or financial advice. Capital is at risk. Tax treatment depends on individual circumstances and may change. Campaign for a Million receives no payment from any platform listed.