What happens when you open a Fidelity brokerage account

Opening a Fidelity brokerage account means creating a place to buy and sell stocks, bonds, mutual funds, and other investments. Fidelity will ask for your personal information, verify your identity, and connect a bank account so money can move in and out. The whole process takes about 10 minutes online, though Fidelity may take one to three business days to confirm your identity and set up the account for trading.

You do not need to fund the account when ready. Once it is open, you can log in, explore the platform, and transfer money whenever you are ready to start investing. Fidelity does not charge a monthly fee to hold an empty account.

Key Takeaways

  • You will need your Social Security number, a government ID, and a bank account to open a Fidelity brokerage account online.
  • Fidelity verifies your identity using information from credit bureaus and may ask follow-up questions if something does not match their records.
  • The account opens when ready for viewing, but trading may be blocked until Fidelity completes identity verification, which usually takes one to three business days.
  • You can fund the account by linking a bank account for electronic transfers or by mailing a check, though electronic transfers are faster.
  • Fidelity charges no monthly maintenance fee, but you will pay per-trade commissions or fund expense ratios depending on what you buy.

Information you need before you start

Gather these items before you begin: your Social Security number, a government-issued ID (driver's license or passport), your date of birth, and the routing and account number from a bank account in your name. Fidelity will not open an account for someone else's bank account.

You will also need to decide on a username and password. Fidelity requires a password with at least 8 characters, including uppercase and lowercase letters, a number, and a special character like ! or @. Write this down somewhere safe—you will need it every time you log in.

If you do not have a bank account yet, you can still open the Fidelity account, but you will not be able to fund it until you link one. Some people open the account first, then add the bank details later.

The step-by-step process on Fidelity's website

Go to fidelity.com and click "Open an Account" at the top of the page. Select "Brokerage Account" from the account types shown. Fidelity will ask whether you want an individual account, a joint account, or an IRA (a retirement account with different rules). For a standard brokerage account, choose "Individual."

Enter your name, address, date of birth, Social Security number, and employment information. Fidelity asks whether you are employed, self-employed, or retired—this is for regulatory purposes, not to disqualify you. Answer honestly. If you are retired or unemployed, select that option.

Next, Fidelity will ask about your investment experience and income. These questions determine what types of investments Fidelity will let you buy. If you say you have no experience, Fidelity may restrict access to complex investments like options or margin trading until you complete an educational module. You can change these settings later by contacting Fidelity.

Create your username and password, then agree to Fidelity's terms and conditions. Fidelity will send a confirmation email to the address you provided. Click the link in that email to verify your email address.

How Fidelity verifies your identity

After you submit your information, Fidelity runs your details against credit bureau records and other databases. If everything matches, your account opens when ready and you can log in right away. However, you will not be able to trade or transfer money until Fidelity completes a final verification step, which usually takes one to three business days.

If Fidelity cannot verify you automatically, they will send you an email asking for additional information. This might be a copy of your driver's license, a recent utility bill, or answers to security questions based on your credit history. Respond as quickly as you can—the longer you wait, the longer your account remains restricted.

In rare cases, Fidelity may ask you to call their verification team at 1-800-343-3548 to confirm your identity over the phone. This usually happens if your address has changed recently or if your name does not match records exactly.

Linking your bank account to fund the account

Once your account is verified, you can add a bank account. Log into your Fidelity account and go to "Accounts & Trade" then "Transfers." Select "Link a Bank Account" and enter your bank's routing number and your account number. You can find both on a check or by logging into your bank's website.

Fidelity will make two small test deposits to your bank account—usually between $0.01 and $0.99 each. These deposits appear within one to two business days. Log back into your Fidelity account and confirm the amounts of these deposits. This proves you own the bank account.

After you confirm the test deposits, your bank account is linked and you can transfer money to Fidelity. Electronic transfers usually take one to three business days. If you need to fund the account faster, you can mail a check to the address Fidelity provides, though this takes five to ten business days.

Account types and what they cost

A standard Fidelity brokerage account has no monthly fee and no minimum balance. You only pay when you trade. Fidelity charges no commission on stocks or ETFs (exchange-traded funds), but some mutual funds carry an expense ratio—a small annual fee taken from the fund's value. Bonds and options have different pricing structures.

If you want to keep money in the account without investing, Fidelity offers a cash management feature that pays interest on uninvested cash. The rate changes based on market conditions, so check Fidelity's website for the current rate.

Fidelity also offers margin accounts, which let you borrow money to invest, and retirement accounts like IRAs with different tax rules. These are separate from a standard brokerage account and have different features and costs. Start with a standard brokerage account unless you have a specific reason to choose something else.

What to do after your account is open

Once your account is active and funded, you can start buying investments. Fidelity's website and mobile app both let you search for stocks, funds, and bonds by name or ticker symbol. You can place an order to buy or sell during market hours (9:30 a.m. to 4 p.m. Eastern time on weekdays when the market is open).

Before you place your first trade, spend time exploring Fidelity's educational resources. They offer free articles, videos, and webinars about how stocks work, how to read a stock chart, and how to build a portfolio. These are available under the "Learning Center" tab on their website.

You can also set up automatic transfers from your bank account to Fidelity on a schedule—weekly, monthly, or whenever you want. This is useful if you plan to invest a fixed amount regularly.

Frequently Asked Questions

How long does it take to open a Fidelity brokerage account?

The online form takes about 10 minutes to complete. Your account opens when ready for viewing, but you cannot trade or transfer money until Fidelity verifies your identity, which usually takes one to three business days. If Fidelity needs additional documents, verification can take up to a week.

Can I open a Fidelity account if I do not have a Social Security number?

No. Fidelity requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. This is a federal requirement, not a Fidelity policy. If you have an ITIN, you can use that instead.

What if Fidelity denies my account?

Fidelity rarely denies accounts, but they may if you provide false information, if your identity cannot be verified, or if you are on a government exclusion list. If your account is denied, Fidelity will send you a letter explaining why. You can contact them to ask whether you can reapply or what steps to take next.

Do I have to fund my account right away?

No. Your account can sit empty indefinitely with no penalty. You can open it now and transfer money whenever you are ready to start investing. There is no monthly fee or minimum balance requirement.

Can I open multiple Fidelity brokerage accounts?

Yes. You can open separate accounts for different purposes—one for long-term investing, one for short-term trading, one as a joint account with a spouse. Each account has its own login and settings, though they all appear in one Fidelity username if you link them.