Fennel review

The account fee is $4.99 a year, charged on the retirement account that Fennel offers. Trading stocks costs $0, and the pricing model is commission-free, so nothing is taken per order. Budget for the annual fee, not for each deal.

The minimum deposit is $0, so there is no floor to clear before you start. That makes small, regular contributions practical, and the commission-free model means a modest first buy does not carry a dealing charge.

The account types on offer are ira. That is a single retirement wrapper, so Fennel is built for long-term saving rather than for holding shares in a general taxable account. Anyone needing a taxable account should look at another provider.

Investor protection runs to SIPC up to USD 500,000. The brokerage is listed as SIPC member 70779, and the regulators named are FINRA and SIPC. That cover applies to the failure of the brokerage, not to a fall in the value of the shares you hold.

Markets cover stocks and etfs. There are no options, bonds, forex or crypto on the list, so a portfolio built here stays simple. For a wider spread of instruments, a broker with a longer market list may serve you better.

You can hold mobile app and web, so the same account works on a phone and in a browser. A mobile app is the listed feature, which suits checking a holding between other tasks rather than sitting at a desk for the trading day.

Support runs on email, phone and help centre. A phone call or an email reaches a person, and the help centre lets you answer common questions yourself. Live chat is not one of the listed channels, so a time-sensitive question has to go by phone or email instead.

Across the brokers on this comparison, 70.15% of retail accounts lose money, and in the investing ranking the figure is 72.05%. That reflects the market rather than Fennel itself, and it matters more than any fee you pay.