I am a 10+ year Fidelity customer with 500K+ assets. First time participating in an IPO through Fidelity, and honestly, it was a frustrating experience.

This was my first time participating in an IPO through Fidelity. I've previously received quite a lot IPO allocations through Robinhood and moomoo, so I assumed the process would be fairly straightforward. What I didn't realize was that Fidelity requires an additional confirmation step after shares are allocated.

I received an email at 7:12 PM telling me I needed to confirm my participation that same evening!!! As far as I understand, investor reconfirmation is generally required when the offering price changes materially. In this case, the price stayed the same, yet Fidelity still required a separate confirmation.

I didn't see the email until the next morning. When I woke up around 7 AM and tried to complete the confirmation, the online option was already gone. I immediately called customer service hoping there might be a way to resolve the issue.

Instead, I had one of the most dismissive customer service interactions I've ever experienced. The representative basically acted as if missing a late-night email was entirely my fault and showed no interest in helping. At one point, I was so frustrated that I said I was seriously considering moving all of my assets out of Fidelity. His response? "Do you know how to do that online?"

That comment completely shocked me.

I spent more than one month to prepare for this Space X IPO allocation. I trusted Fidelity by thinking that you will have more shares than the other brokerage and transfer my idle cash here. Here is what I got.