What you need to open a Fidelity account

Opening a Fidelity account takes about 10 to 15 minutes online. You will need a valid government-issued ID, your Social Security number, and a way to fund the account—either a bank account for transfers or a debit card. Fidelity offers several account types (brokerage, IRA, 401(k) rollover, and others), and the account type you choose determines which documents and information you provide during setup.

The process is the same whether you are opening your first investment account or adding another one: you go to Fidelity's website, select the account type, answer questions about your identity and financial situation, and link a funding source. Fidelity verifies your identity in real time using the information you provide, and most accounts are approved when ready.

Key Takeaways

  • You need a valid government ID, Social Security number, and a bank account or debit card to fund the account.
  • The account type you choose (brokerage, IRA, 401(k) rollover) determines what information Fidelity asks for during setup.
  • Identity verification happens in real time, and most accounts are approved when ready so you can start trading or investing the same day.
  • Fidelity does not charge a fee to open an account, but some account types have minimum balance requirements or transaction fees depending on what you trade.

Steps to open a brokerage account

Start at Fidelity.com and click "Open an Account" at the top of the page. Select "Brokerage Account" from the menu. You will be asked to enter your name, date of birth, address, phone number, and email. Fidelity will also ask whether you are a U.S. citizen or resident alien, your employment status, and your annual income range—this is standard information all brokerages collect for regulatory reasons.

Next, you will enter your Social Security number and answer questions about your investment experience and financial situation. These questions help Fidelity understand your risk tolerance and investment goals, but your answers do not prevent you from opening the account or trading any security. After you verify your identity (usually by confirming a code sent to your phone or email), you will link a bank account or debit card to fund the account. Fidelity will ask how much you want to deposit initially—there is no required minimum for a standard brokerage account.

Once funding is complete, your account is active. You can begin trading stocks, ETFs, mutual funds, and other securities when ready, though deposits from a linked bank account may take one to three business days to settle.

Opening an IRA or retirement account

The steps are similar to a brokerage account, but you will select "IRA" or "Retirement Account" instead of "Brokerage Account" at the start. Fidelity will ask which type of IRA you want—Traditional, Roth, SEP, or straightforward—and your choice determines the tax treatment of your contributions and withdrawals. If you are unsure which type fits your situation, Fidelity's website has a comparison tool, or you can call their phone line to discuss options with a representative.

For a Traditional or Roth IRA, Fidelity will ask about your income and whether you have access to an employer retirement plan, because these factors affect how much you can contribute and whether contributions are tax-deductible. After you provide this information and verify your identity, you fund the account the same way as a brokerage account. IRAs have annual contribution limits (currently $7,000 for people under 50, $8,000 for people 50 and older), but Fidelity will not prevent you from depositing more—you will straightforward owe taxes and penalties if you exceed the limit.

Rolling over a 401(k) or other retirement plan

If you are moving money from an employer 401(k), previous IRA, or other retirement account to Fidelity, you will select "Rollover IRA" during account setup. Fidelity will ask which type of account you are rolling over from and whether you want a direct rollover (the money moves from your old provider to Fidelity without touching your hands) or an indirect rollover (you receive a check and deposit it yourself within 60 days).

A direct rollover is simpler and avoids tax withholding, so it is the better choice if your old provider offers it. To complete a direct rollover, you will need the name and contact information of your current plan administrator or IRA custodian. Fidelity will contact them on your behalf and request the transfer. The process usually takes one to two weeks, though some plans move faster.

If you choose an indirect rollover, you will receive a check from your old provider. You then deposit it into your new Fidelity IRA within 60 days. If you miss the 60-day window, the IRS treats the money as a distribution, and you will owe income tax and possibly a 10% early withdrawal penalty.

Funding your account and what happens next

After your account is open, you fund it by linking a bank account or entering a debit card. Bank transfers usually take one to three business days to settle, while debit card deposits are often available when ready. Fidelity does not charge a fee to deposit money, but your bank may charge a fee for the transfer.

Once your deposit settles, the money sits in your account as cash until you invest it. You can then buy stocks, ETFs, mutual funds, bonds, or other securities. Fidelity does not charge commissions on stock or ETF trades, but some mutual funds and bonds carry transaction fees or sales charges depending on the fund or security.

If you opened an IRA or retirement account, you will see annual contribution limits displayed in your account dashboard. Fidelity tracks how much you have contributed each year and will alert you if you approach the limit, but the responsibility to stay within the limit is yours.

Identity verification and account approval

Fidelity verifies your identity using the information you provide during signup—your name, date of birth, Social Security number, and address. In most cases, this verification happens when ready, and your account is approved before you finish the signup process. If Fidelity cannot verify you when ready, they will ask for additional documents, such as a copy of your driver's license or passport, or a recent utility bill showing your address.

If you are asked to provide documents, you can upload them through your account or email them to Fidelity. Verification usually takes one to two business days once Fidelity receives your documents. During this time, your account is open but you cannot trade or transfer money until verification is complete.

Account types and which one to choose

Fidelity offers several account types, and the right choice depends on your goal. A brokerage account is for general investing with no contribution limits or tax advantages—you pay taxes on gains and dividends each year. A Traditional IRA lets you deduct contributions from your taxes now and pay taxes on withdrawals later. A Roth IRA takes after-tax contributions now but lets withdrawals grow tax-free. A SEP IRA is for self-employed people or small business owners and allows much higher annual contributions. A straightforward IRA is for small businesses with employees.

If you are rolling over a 401(k) from a previous job, a Rollover IRA is the standard choice. If you are still employed and want to save through your job, you would set up a 401(k) through your employer, not through Fidelity—though Fidelity can hold and manage a 401(k) if your employer uses them as the custodian.

The account type you choose affects your tax situation and contribution limits, so it is worth thinking through before you start. Fidelity's website has comparison tools, or you can speak with a representative by phone.

Frequently Asked Questions

How long does it take to open a Fidelity account?

The signup process takes 10 to 15 minutes, and most accounts are approved when ready. If Fidelity needs to verify your identity with additional documents, approval may take one to two business days. You can start trading as soon as your account is approved, though deposits from a linked bank account may take one to three business days to settle.

Is there a minimum amount I need to deposit?

Standard brokerage accounts have no minimum deposit. Some account types or investment products may have minimums—for example, certain mutual funds require a $2,500 initial investment—but you can open the account itself with any amount. IRAs have annual contribution limits but no minimum deposit.

Can I open multiple accounts with Fidelity?

Yes. You can have a brokerage account, an IRA, a 401(k) rollover, and other account types all under the same login. Each account is separate for tax and regulatory purposes, but you can transfer money between them and manage them all in one place.

What if Fidelity cannot verify my identity?

If when ready verification fails, Fidelity will ask you to upload a government-issued ID and proof of address, such as a utility bill or bank statement. This usually takes one to two business days. If you have questions about what documents are needed, you can call Fidelity's phone line and speak with a representative.

Do I need to fund my account right away?

No. Your account is open and ready to use as soon as it is approved, but you can fund it whenever you are ready. You can open the account today and deposit money next week or next month. Until you deposit money, your account balance is zero and you cannot trade.