Sounds like it.
If you need a full review on every plan that Shopify has to offer, check out this article.
To access your account rates for UPS, FedEx, DHL, and USPS, there are 3 options:
Since you are paying annually for the Basic Shopify plan, the carrier calculated shipping comes for free, which will help you add the FedEx account and display calculated FedEx rates at checkout. However, this doesn't add up automatically. You have to contact Shopify support, and they will help you enable this in your store.
Also, as you may know, Shopify only helps in displaying FedEx rates at checkout and not the complete FedEx shipping process. For that, you will have to use a shipping app like our FedEx Rates, Labels, and Tracking app.
Hope this helps!