What you'll need to open a Fidelity account
You'll need to have the following information on hand to get your Fidelity account up and running:
- Social Security number
- Employer's name and address, if applicable
- Bank account information to fund the account
Fidelity doesn't charge fees to open an account, nor are there any account minimums you have to meet. Better yet, if you ever need help opening a Fidelity brokerage account, you can click on the green bubble on the bottom right-hand side of the page and chat with an online representative. You can also call the number above the chat option.
Step 1: Choose a Fidelity account
The biggest decision you'll make is choosing which Fidelity account you want to open. You might have already decided this, in which case you can skip to the second step, but if you're unsure, here are some popular Fidelity accounts:
- Brokerage account: This is your standard taxable brokerage account. It doesn't have tax benefits, like IRAs or 401(k)s do, so you'll owe capital gains taxes when you sell securities for a profit. At the same time, you don't have withdrawal limits and you can contribute as much as you'd like.
- Traditional IRA: A traditional IRA is a retirement account that has immense tax benefits. Money contributed into this Fidelity account will grow with tax deferral, meaning you don't have to pay taxes until it comes time to withdraw. These accounts are perfect for those who expect to be in a lower tax bracket in retirement, as you might cut your tax bill simply by deferring it.
- Roth IRA: Roth IRA is a retirement account that also has tax benefits. You fund this account with after-tax dollars (money you've already paid taxes on). The money can grow tax free and you don't have to pay taxes when you withdraw it in retirement.
For the rest of this how-to guide, we'll focus on opening a Fidelity brokerage account.
Once you navigate to Fidelity's website, click "open an account," then select whichever account you'd like to open. You'll be asked if you're an existing Fidelity customer. If you don't already have a Fidelity account, then you'll need to fill in some basic personal information -- email address, street address, Social Security number, and so on -- to create one.
Next, you'll be asked to create security questions, like "what's your favorite restaurant?" These questions will be your first line of defense against fraudsters, so be sure you come up with unique answers that no one can guess.
Once you've created some security questions, you'll be asked to enter your employment information, if applicable. The site will also ask you to estimate how often you'll be trading. (Promise us you'll stay away from day trading.)
You'll also be asked whether you're associated with a broker-dealer, a stock exchange, or the Financial Industry Regulatory Authority, as well as whether you or any immediate family members are a director or a 10% shareholder of a publicly held company. Most likely, you'll answer "no" to these questions.
Step 3: Add account settings
Once you've filled out your personal information page, you'll decide if you want this account to be jointly owned or individual. If you choose joint ownership, you'll need to enter your spouse or partner's information (name, Social Security number, address). Otherwise, Fidelity will take you to the next page.
Step 4: Review and confirm
You're almost done. In this section, you'll review your personal information, the account you selected, your employment information, and some general account settings.
You'll also go through some technical information, such as the customer agreement, terms and conditions, electronic delivery agreement, and so on. Read and review these documents, and then click the "yes" button at the bottom.
The next page will show a taxpayer identification agreement and some additional terms. Once you read through them, click "Open account."
Step 5: Fund the account and start investing!
Congratulations -- you've opened the account! From here, you'll need to link a bank and fund your brokerage account. Expect it to take about two business days before electronic transfers are available for trading. Then, you can use that money to invest in stocks, funds, or other securities.
The process for opening a Fidelity brokerage account is simple, but the decisions you make after will require strategy and knowledge. Take a look at our investment guide to help you get started. And if you need troubleshooting help with your new account, don't hesitate to reach out to Fidelity.
Fact Checked
Ashley Maready
2024 Award Winner
