Does Fidelity Offer Foreign Currency Accounts?
No—Fidelity does not provide traditional foreign or multi-currency accounts. You cannot hold balances in multiple currencies in a Fidelity account.
They do, however, offer several currency-related services:
- Forex Trading: You can trade currency pairs such as EUR/USD or USD/JPY, but this is intended for investors. Proceeds from trades are settled back into USD.
- International Stock Trading: Fidelity allows trades in about 25 countries, with settlement options in either local currency or USD. Nevertheless, all funds in your account remain USD-denominated.
- Foreign Currency Wire Transfers: Supports wires in multiple currencies, with Fidelity charging no fee (though the recipient bank may). These require contacting the international trader and submitting specific forms.
- Supported Currencies: Includes currencies like EUR, GBP, JPY, CAD, and others—16 in total—for trading or wire transfers.
DogPay’s Multi‑Currency Capability
DogPay is a global payments platform blending traditional banking and Web3, functioning like a true multi-currency account. Users can hold and exchange various fiat and cryptocurrencies and use virtual cards (e.g., Apple Pay) for payments. With coverage in 180+ countries, it emphasizes low or zero fees and high convenience.
Side‑by‑Side Comparison
| Feature | Fidelity (Personal) | DogPay |
|---|---|---|
| Holding Multi‑Currency Balance? | No — only through trading or wires; funds revert to USD | Yes — supports holding fiat and crypto balances |
| Target Audience | Investors needing specific trading/investment tools | Everyday users needing flexible cross-currency usage |
| User Experience | Complex workflows (trades, forms, phone calls) | Online, simple, real-time currency conversions |
| Fee Structure | No wire fees, but hidden markups and trade costs | Low to zero fees, transparent mid-market rates |
| Asset Types Supported | Fiat currency trading/investment only | Fiat and cryptocurrency supported |
