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Fidelity is a privately owned investment management company best known for its managed mutual funds and low-cost index funds. However, it offers an impressive range of services, including investment advice, wealth management, life insurance, fund distribution, retirement services, and securities execution and clearance.
Many investors choose Fidelity because of its simple, transparent prices. They do not take commissions on ETF, stock, and options trades and are transparent with their commissions, fees, and margin rates elsewhere.
So, does Fidelity offer gold IRA investments?
Fidelity offers gold IRA investments and allows users to invest in precious metals inside an IRA. However, these individual retirement accounts are not self-directed.
We will cover what Fidelity offers gold investors, how to invest with Fidelity, your gold buying options, the trading fees, and the process of buying physical gold through Fidelity. We even talk about the fine print of gold purchases through Fidelity. Without further ado, let's get into it!
Does Fidelity Offer A Gold IRA?
Fidelity does not offer a self-directed gold IRA. They offer other gold-related investment options for retirement plans, such as paper gold assets, ETFs, funds, and stocks. You can put physical gold into a Fidelity IRA, but this account is not self-directed.
Gold IRAs via Fidelity are not nearly as common as other companies because their options are limited, their fees are higher than competitors, and the process is complex.
Here are some of the top Gold IRA Companies:
Can You Invest In Gold Through Fidelity?
You can invest in gold through Fidelity. Your options are physical gold, ETFs, stocks, or mutual funds.
Purchasing physical gold through Fidelity is not common because their fees are steep, but it is an option.
With Fidelity, investing in ETFs that own gold, mining stocks, individual mining stocks, gold futures, and gold mutual funds such as Fidelity Select Gold Portfolio (FSGAX) are much more common.
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Buying Gold Through Fidelity
Fidelity requires a minimum initial investment of $2,500. You can order either whole ounces or whole numbers of coins and buy these pieces directly or purchase a select few to go into your IRA. We'll cover that in greater depth below.
Fidelity Investments offers the following:
You can also purchase other precious metals through Fidelity Investments. These different metals are silver, platinum, and palladium. Here are your options:
It's important to note that Fidelity charges fees for purchasing and selling precious metals.
The fees are as follows for purchasing:
And here are the selling fees:
Fidelity isn't the one fulfilling the order when you "buy" or "sell" your precious metals.
Instead, Fidelity will take your order and send it to an affiliate, FideliTrade or ScotiaMocatta. One of these affiliates then makes the trade. This is where a good portion of their trade fees originate. You can read more about this in the small fine print at the bottom of this page.
If you want to avoid transaction fees, consider Fidelity's flagship gold mutual fund, Fidelity Select Gold Portfolio (FSGAX). This fund puts approximately 75% to 80% of its capital into gold-related companies and 20% to 25% directly into gold and other precious metals.
You may also purchase exchange-traded funds. The most common gold ETFs that Fidelity offers are SPDR Gold Trust, iShares Gold Trust, and SPDR Gold MiniShares Trust. They have a management fee that is included in their valuation, but on the bright side, they are traded commission-free.
Does Fidelity Investments Offer Precious Metals IRAs?
Fidelity offers precious metal IRAs but is not self-directed, and your options are limited.
You can only purchase gold ETFs, gold stocks, or a handful of precious metals in the IRA account. These metals are:
You can purchase precious metals inside of a Fidelity IRA. You can also roll over your Fidelity 401(K) into a Gold IRA.
How To Buy Gold On Fidelity?
While it is possible to add gold to your IRA on Fidelity, it's not necessarily the best option.
Fidelity is a powerhouse in actively managed mutual funds but does not offer a strong nor competitive gold IRA. Your purchasing options are quite limited, the account is not self-directed, the fees are much higher than what other gold IRA companies offer, and Fidelity does not execute the gold trades. Instead, the orders are passed onto their affiliates.
If you are a steadfast, loyal Fidelity user, the option stands to purchase gold for your IRA. However, we believe there are better options available to you.
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