Softwr

Software · head to head

Fidelity vs TransferWise

Fidelity logo

Fidelity

Software

Building a better financial future

From
On request
Rated
-
Full reviewWebsite
TransferWise logo

TransferWise

Software

The cheapest way to send money abroad

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only TransferWise has a free tier, so it costs nothing to try first.
  • Each has a real cost: Fidelity options trades carry a 0.65 USD per contract fee on top of zero commission; TransferWise wise Card only available in selected countries, excluding major markets like UK
  • They diverge on capability: Fidelity covers Commission-free trading, TransferWise covers International transfers.

Where they differ

Only the attributes on which Fidelity and TransferWise actually diverge.

Attributes where Fidelity and TransferWise differ
AttributeFidelityTransferWise
Starting priceOn requestFree
Pricing modeltransactionUnknown
Free tierNoYes
Founded19462011

Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Fidelity

  • Commission-free trading
  • Retirement planning
  • Advisory services
  • Research tools
  • Investment accounts

Only in TransferWise

  • International transfers
  • Real exchange rates
  • Currency conversion
  • Multi-currency accounts

Both cover

  • Bank accounts
  • Web support
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Fidelity

  • Commission free trading of US stocks and ETFsnot TransferWise
  • Holding IRAs, 401(k) plans and taxable brokerage accountsnot TransferWise
  • Trading bonds, options and mutual funds from one accountnot TransferWise

TransferWise

  • Budget Managementnot Fidelity
  • Expense Trackingnot Fidelity
  • Investment Trackingnot Fidelity

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Fidelity

  • Options trades carry a 0.65 USD per contract fee on top of zero commission
  • Non Fidelity mutual funds carry a 49.95 USD transaction fee per purchase
  • Secondary market bonds cost 1.00 USD per bond, while new issues are free
  • A foreign settlement fee of 50 USD applies per trade
  • Margin rates are tiered by debit balance, from 11.825 percent below 25,000 USD down to 7.50 percent at 1 million USD or more, against a base rate of 10.575 percent effective 12 December 2025
  • Margin liquidation by the broker costs 32.95 USD per liquidation

TransferWise

  • Wise Card only available in selected countries, excluding major markets like UK
  • Mid-market rate is still 0.33-0.5% plus spreads higher than interbank rates
  • Business accounts have additional requirements and higher minimums

Pricing, plan by plan

Fidelity

On request
  • Brokerage$undefined/month
    • Commission-free trading
    • Research tools
  • Advisory$undefined/month
    • Personal advisor
    • Wealth management

TransferWise

Free
  • Personal AccountFree
    • Free account opening
    • Transfer in 40+ currencies
    • Mid-market exchange rates
  • Transfer fees$undefined/per-transfer
    • Transparent fees shown upfront
    • Average total cost 0.5-1%

Which should you pick?

Choose Fidelity if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Fidelity review

Choose TransferWise if

  • You need international transfers.
  • You want to start without paying.
  • You work on Web, iOS, Android.
  • You also want real exchange rates.
TransferWise review

Questions people ask

Is Fidelity or TransferWise better?
Neither clearly leads. Fidelity starts at On request and TransferWise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Fidelity or TransferWise?
TransferWise has a free tier; the other does not. Paid plans start at On request for Fidelity and Free for TransferWise.
Does Fidelity or TransferWise run on more platforms?
Fidelity runs on Web, IOS, Android. TransferWise runs on Web, iOS, Android.
Can I use TransferWise for free?
Yes. TransferWise has a free tier, so you can try it without paying. Fidelity starts at On request.
What is Fidelity best used for?
Fidelity is most often used for commission free trading of us stocks and etfs, holding iras, 401(k) plans and taxable brokerage accounts, trading bonds, options and mutual funds from one account. Of those, commission free trading of us stocks and etfs and holding iras, 401(k) plans and taxable brokerage accounts are not what TransferWise is typically brought in for.
What can Fidelity do that TransferWise cannot?
Fidelity covers Commission-free trading, Retirement planning, Advisory services, Research tools. TransferWise covers International transfers, Real exchange rates, Currency conversion, Multi-currency accounts. Both handle Bank accounts, Web support, IOS support, Android support.

Answered from the vendors’ own pages

TransferWise: How much does Wise charge for transfers?

Wise charges a small fee (typically 0.33% to 0.5% of transfer amount) plus shows you the mid-market exchange rate. Total costs are usually 0.5-1% compared to banks charging 3-6%.

Source
TransferWise: Can I open a Wise account for free?

Yes. Opening a Wise personal account is free with no monthly or annual fees. You only pay when you actually make a transfer.

Source
TransferWise: How many currencies does Wise support?

Wise allows you to hold and exchange money in 40+ currencies, and send payments to 160+ countries with spending available in 150+ countries.

Source
TransferWise: Does Wise offer a debit card?

Yes. Wise Multi-Currency Card is available in selected countries including Australia, Brazil, Canada, Japan, and others. It uses mid-market exchange rates and has no annual fee.

Source
TransferWise: How does Wise work without traditional banking?

Wise holds local bank accounts in each country it operates. When you send USD to EUR, Wise receives your dollars in the US and releases euros from its local European account to your recipient.

Source
ShareXLinkedInRedditWhatsAppEmail

Related pages

More on Fidelity

More on TransferWise

Keep looking

Other head to heads