What you need to open a Fidelity brokerage account

Opening a Fidelity brokerage account takes about 10 minutes online. You will need a valid government ID (driver's license or passport), your Social Security number, and a way to fund the account — either a bank account for transfers or a debit card. Fidelity will ask basic questions about your employment and investment experience, but you do not need any prior investing knowledge to open an account.

The account itself is free to open. Fidelity makes money when you trade stocks, funds, or other investments, not from account fees. You can start with any amount — some people begin with $100, others with thousands. There is no minimum deposit required to open the account, though some specific investments (like certain mutual funds) may have their own minimums once you are ready to invest.

Key Takeaways

  • You can open a Fidelity brokerage account online in about 10 minutes using your ID, Social Security number, and a bank account or debit card.
  • The account itself costs nothing to open, and you can start with any amount of money.
  • Fidelity will ask about your employment and investment background, but these questions do not prevent you from opening an account.
  • After your account is approved (usually within a few hours), you can transfer money from your bank and begin buying investments.
  • You will receive a confirmation email with your account number and login details once the process is complete.

Step-by-step: opening your account online

Go to Fidelity.com and click the button to open a new account. You will be asked to choose what type of account you want — for most people starting out, this is an individual brokerage account (sometimes called a taxable brokerage account). If you are self-employed or want to save for retirement with tax advantages, Fidelity also offers IRAs and SEP-IRAs, but those are separate processes.

Fidelity will ask you to enter your name, date of birth, address, phone number, and email. Then comes your Social Security number and employment information — they ask this because federal law requires brokers to verify who you are. You will also answer questions about your investment experience: whether you have owned stocks before, whether you understand that investments can lose value, and so on. Answer honestly, but know that there are no wrong answers that will block you from opening the account.

Next, you will link a bank account or provide a debit card so Fidelity can verify your identity and move money in and out. If you use a bank account, Fidelity will make two small deposits (usually under $1 each) to confirm the account is yours. You will see these deposits in your bank statement within a few days and enter the amounts back into Fidelity to confirm. If you use a debit card, the verification is faster.

What happens after you submit your information

Fidelity usually approves new accounts within a few hours, though it can take up to one business day. You will receive a confirmation email with your account number and a link to set up your login password. At this point, your account is open and ready to use, even if you have not yet transferred any money.

To fund your account, log in and look for the "Transfer Funds" or "Move Money" option. You can transfer from your linked bank account, or if you have a paycheck, you can set up direct deposit to go straight into your Fidelity account. Transfers from your bank usually take one to three business days to arrive.

Understanding account types: which one to choose

A standard brokerage account (also called a taxable account) is what most people open first. You can buy and sell investments whenever you want, withdraw money whenever you want, and there are no contribution limits. The trade-off is that you pay taxes on any gains when you sell, and on dividends the investments pay you.

A Roth IRA is a retirement account where your investments grow tax-free, and you pay no taxes when you withdraw the money in retirement. The catch is that you can only contribute a certain amount per year (the limit changes annually), and you cannot withdraw the money before age 59½ without penalties, except in specific situations. If you are new to investing and thinking long-term, a Roth IRA is often a better choice than a standard brokerage account.

A Traditional IRA works similarly to a Roth, but you may get a tax deduction for contributions now, and you pay taxes on withdrawals later. The right choice between Roth and Traditional depends on your income and whether you think you will be in a higher or lower tax bracket in retirement — Fidelity's website has tools to help you think through this.

Moving money into your new account

Once your account is open and verified, you can transfer money from your bank account to Fidelity. Log in, find the "Transfer Funds" section, and choose "Transfer from My Bank." Fidelity will ask for your bank's routing number and your account number — you can find both on a check or by logging into your bank's website.

The first transfer may take three to five business days because Fidelity verifies the connection. After that, future transfers are usually faster. You can also set up recurring transfers if you want to move money to Fidelity regularly — for example, $200 every payday.

If you want to move money faster, you can use a debit card to fund the account, though Fidelity may limit how much you can deposit this way per day. You can also deposit a check by taking a photo of it through the Fidelity app.

What you can buy once your account is funded

With money in your Fidelity account, you can buy individual stocks, exchange-traded funds (ETFs), mutual funds, bonds, and other investments. If you are new to investing, ETFs and mutual funds are often easier to start with because they hold many stocks or bonds in one investment, spreading your risk.

Fidelity offers thousands of investments with no trading fees — you do not pay a commission to buy or sell stocks or most ETFs. Some mutual funds have fees built in, but Fidelity clearly shows these before you buy. You can research any investment on Fidelity's website, read its history, see what it holds, and understand its costs before you put money in.

Security and protecting your account

After you log in for the first time, Fidelity will ask you to set up two-factor authentication — this means you will need both your password and a code from your phone to log in. This protects your account if someone gets your password. You can choose to receive the code by text message or through an authenticator app.

Keep your login information private and do not share it with anyone. If you ever see a suspicious login or transaction, contact Fidelity when ready through the phone number on your account statement or the official Fidelity website — never click a link in an email claiming to be from Fidelity, as scammers use fake emails to steal login information.

Frequently Asked Questions

Do I need money in the account before I open it?

No. You can open the account with zero dollars. Many people open an account first, then transfer money when they are ready. The account itself costs nothing, so there is no harm in opening it ahead of time.

What if I do not have a bank account yet?

You can use a debit card to fund your Fidelity account instead. Fidelity will verify the debit card and let you transfer money that way. If you do not have either a bank account or debit card, you may want to open a basic checking account first — many banks offer these with no fees.

Can I open an account if I am not a U.S. citizen?

You can open an account if you have a valid Social Security number or Individual Taxpayer Identification Number (ITIN). If you are not a U.S. citizen and do not have one of these, contact Fidelity directly to discuss your options.

How long does it take to start investing after I open the account?

Your account is usually approved within hours, but you cannot invest until money arrives. If you transfer from your bank, that takes one to three business days. If you use a debit card, the money may be available the same day. Once the money is in your account, you can buy investments when ready.

What if I change my mind and want to close the account?

You can close your Fidelity account anytime by contacting customer service or through your online account settings. If you have money in the account, Fidelity will transfer it back to your bank account. There is no penalty for closing.