Fidelity allows investors to open a gold IRA that holds physical precious metals. Compared to most providers in this space, Fidelity operates more like a large, traditional financial institution than a niche metals dealer. That can be reassuring for some investors, but it also introduces tighter rules and fewer choices, which becomes important in practice.
Gold IRA Account Types and Their Tradeoffs
Traditional Gold IRA
When I looked at Fidelity’s gold IRA structure, I found that it supports a Traditional gold IRA with tax-deferred growth. Contributions and gains are not taxed immediately, but taxes are owed when metals are withdrawn at retirement age. Early withdrawals are penalized by the IRS.
This matters because access to your metals is restricted until retirement. For investors who anticipate needing funds earlier, this structure limits flexibility and can create costly penalties.
Roth Gold IRA
Fidelity also offers a Roth gold IRA, which is funded with after-tax money. In return, growth and withdrawals are tax-free, and assets can be withdrawn without penalty.
Compared to many retirement options, this is more flexible on the withdrawal side. The downside is that taxes are paid upfront, which negatively affects investors who want to reduce their current tax burden rather than future taxes.
Minimum Investment Requirement
One factor that stood out during my review was Fidelity’s minimum investment requirement. Investing in precious metals through Fidelity requires at least $2,500.
Compared to many gold IRA providers, this is relatively low and makes Fidelity more accessible to smaller investors. However, it still creates a firm entry barrier. This matters because anyone below that threshold cannot participate, regardless of long-term intent.
Precious Metals Selection Limits
Fidelity is more restrictive than typical providers when it comes to which metals can be held in an IRA. Only a short list of IRS-approved products is allowed:
-
Gold American Eagle coins (1 oz, 1/4 oz, 1/10 oz)
-
Gold American Buffalo coins (1 oz)
-
Silver American Eagle coins (1 oz)
-
Platinum American Eagle coins (1 oz)
-
Bullion-quality bars
Unlike many options that offer broader selections, Fidelity limits investor choice. This becomes a problem for those who want wider diversification within precious metals or prefer products outside this narrow list.
How the Investment Process Works in Practice
Opening the IRA
To begin, investors must select an IRA type and submit personal and investment information. Accuracy is important because incorrect details can delay account approval.
While this is standard across providers, delays matter in practice because they can affect timing, especially during periods of market volatility.
Funding the Account
Accounts can be funded with cash or through a rollover from another retirement plan, such as a 401(k). This is consistent with most gold IRA providers and does not introduce unusual restrictions.
Purchasing Metals
When I reviewed Fidelity’s purchasing process, I found one of its most significant limitations. Precious metals can only be purchased by calling a Fidelity trading representative. Online ordering is not available, and calls are only accepted between 8 a.m. and 3 p.m. Eastern Time.
Compared to many providers that allow online or extended-hour purchasing, this is more restrictive. This matters because it limits flexibility and can delay trades during time-sensitive market movements.
Storage Rules and Asset Control
Once purchased, metals must be stored in an approved depository. Fidelity stores IRA metals at FideliTrade Inc., an insured Delaware-based facility.
This setup is standard for compliance, but it still limits control. Investors do not take physical possession of their metals while they remain in the IRA. This becomes an issue for those who prefer personal storage or direct access, which Fidelity does not offer.
Fees and Ongoing Costs
Account and Transaction Fees
Fidelity does not charge an IRA account opening fee, which is a positive compared to many providers. However, other costs still apply. Each precious metals transaction includes a $44 fee, along with a trade commission ranging from 0.99% to 2.9%, depending on the investment size.
For example, a $5,000 purchase at the highest rate results in a $145 commission. This matters because higher commissions disproportionately impact smaller accounts, reducing net investment value.
Storage Fees
Fidelity also charges a quarterly storage fee equal to 0.125% of total asset value or $3.75, whichever is higher.
Compared to flat-fee storage models, this structure becomes more expensive as account value grows. Over time, this can materially reduce long-term returns for larger accounts.
Customer Feedback and Service Signals
Consumer feedback presents mixed signals. Fidelity holds an A+ rating with the Better Business Bureau but has recorded hundreds of complaints in the past year. On TrustPilot, its rating is significantly lower, with most reviews below four stars.
This matters because it suggests that while Fidelity is large and established, customer experience may vary depending on expectations and service needs.
Final Evaluation: Who Fidelity Is — and Isn’t — Right For
After reviewing all of this, my overall takeaway is that Fidelity’s gold IRA offering is functional but constrained. It is well-suited for investors who value a low minimum investment, insured storage, and the familiarity of a large financial institution.
At the same time, it is less suitable for investors who want broad metal choices, online purchasing, or flexible access. The fees, purchasing restrictions, and limited product selection are not deal-breakers for everyone, but they are meaningful tradeoffs that should be carefully weighed before committing funds.