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Personal Finance · head to head

Fidelity vs Wally

Fidelity logo

Fidelity

Personal Finance

Building a better financial future

From
On request
Rated
-
Full reviewWebsite
W

Wally

Personal Finance

Smart expense tracking for travel and daily life

From
Free
Rated
-
Full review

The short version

  • Only Wally 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; Wally the Internet Archive's capture of wally.me on 2 January 2019 stated the app is free ('Control your money seamlessly. And, it's free.'), and claimed rankings as the #1 finance app in 22 countries and top 10 in 52 countries at that time.
  • They diverge on capability: Fidelity covers Commission-free trading, Wally covers Receipt OCR scanning.

Where they differ

Only the attributes on which Fidelity and Wally actually diverge.

Attributes where Fidelity and Wally differ
AttributeFidelityWally
Starting priceOn requestFree
Pricing modeltransactionfreemium
Free tierNoYes
PlatformsWeb, IOS, AndroidIOS, Android
Founded19462009

Identical on both: user rating (Not yet rated), category (Personal Finance).

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
  • Bank accounts
  • Investment accounts
  • Web support

Only in Wally

  • Receipt OCR scanning
  • Expense tracking
  • Receipt storage
  • Category management
  • Cloud storage

Both cover

  • 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 Wally
  • Holding IRAs, 401(k) plans and taxable brokerage accountsnot Wally
  • Trading bonds, options and mutual funds from one accountnot Wally

Wally

  • 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

Wally

  • The Internet Archive's capture of wally.me on 2 January 2019 stated the app is free ('Control your money seamlessly. And, it's free.'), and claimed rankings as the #1 finance app in 22 countries and top 10 in 52 countries at that time.

Pricing, plan by plan

Fidelity

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

Wally

Free
  • FreeFree
    • Receipt scanning
    • Expense tracking
    • Basic reports
  • Premium$9.99/month
    • Advanced analytics
    • Unlimited storage
    • Cloud sync

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 Wally if

  • You need receipt ocr scanning.
  • You want to start without paying.
  • You work on IOS, Android.
  • You also want expense tracking.
Wally review

Questions people ask

Is Fidelity or Wally better?
Neither clearly leads. Fidelity starts at On request and Wally at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Fidelity or Wally?
Wally has a free tier; the other does not. Paid plans start at On request for Fidelity and Free for Wally.
Does Fidelity or Wally run on more platforms?
Fidelity runs on Web, IOS, Android. Wally runs on IOS, Android.
Can I use Wally for free?
Yes. Wally 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 Wally is typically brought in for.
What can Fidelity do that Wally cannot?
Fidelity covers Commission-free trading, Retirement planning, Advisory services, Research tools. Wally covers Receipt OCR scanning, Expense tracking, Receipt storage, Category management. Both handle IOS support, Android support.
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