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Drawing on my experience as a trader, evaluating a broker’s fee structure is vital, especially to manage long-term performance and guard against unnecessary costs. When I examined Fidelity’s fees, I noticed that their structure is quite transparent and designed with a tiered system, which means your investment size can materially impact the charges you face. For those with larger account balances, the commissions are notably lower—investments at or over USD 1,000,000 can benefit from zero cash fund sales charges, and relatively modest rates on bond and equity funds. However, for smaller portfolios, costs run higher; for example, investments under USD 50,000 are charged a maximum sales load of 1.5% on cash funds and 3.0% on equity and other funds, which I feel is at the upper end for the industry. It’s critical to understand that Fidelity focuses on mutual funds, retirement schemes, and thematic investment portfolios, not spot forex or CFD trading—so the usual concept of “spreads” does not apply here. Instead, the main fees to monitor are front-end sales charges and, occasionally, switching fees when changing between funds. Their monthly investment plan also follows this tiered charge system and can be competitive if you contribute HK$20,000 or more per month, since the sales charge drops to zero at that level. As a cautious investor, I always recommend closely reviewing how these charges could affect your net returns, especially for those managing smaller accounts. Overall, Fidelity’s moderate-to-high fees are best justified for investors seeking the security of reputable oversight and a wide range of funds, rather than for active traders looking for tight spreads or ultra-low trading costs.