What you need to open a Fidelity brokerage account

Opening a Fidelity brokerage account takes about 10 minutes online and requires a Social Security number, a valid government ID, proof of address, and a bank account to fund it with. You do not need to be employed, have a certain income level, or meet any minimum deposit to start the account itself—though some account types or investment products may have minimums once you want to buy something.

Fidelity offers several account types: individual taxable accounts, IRAs (traditional and Roth), SEP IRAs for self-employed people, and joint accounts. The type you choose depends on whether you are saving for retirement or general investing, and whether you want tax-deferred growth. You can open more than one account, and you can change your mind later.

The process happens entirely online through Fidelity's website or mobile app. You will enter personal information, verify your identity, link a bank account, and choose your account type. Fidelity will then send you a confirmation email with your account number and login details.

Key Takeaways

  • You need a Social Security number, government ID, proof of address, and a linked bank account to open an account, but no minimum deposit is required to create the account itself.
  • Fidelity offers taxable brokerage accounts, IRAs, and joint accounts; choose based on whether you are saving for retirement or general investing.
  • The entire signup process happens online and takes about 10 minutes; you will receive your account number and login credentials by email.
  • After your account is open, you can fund it by linking a bank account and transferring money, or by setting up automatic deposits.
  • You do not have to invest immediately after opening; you can hold cash in the account and decide what to buy later.

Documents and information you will need

Before you start, gather your Social Security number, a government-issued ID (driver's license, passport, or state ID), and a recent utility bill or bank statement showing your current address. Fidelity uses these to verify your identity and comply with federal regulations.

You will also need access to a bank account—checking or savings—that you can link to your Fidelity account. This is how you will transfer money in and out. Have your bank's routing number and your account number ready; you can find both on a check or by logging into your bank's website.

If you are opening a joint account, both account holders will need to provide their own Social Security numbers and IDs. If you are opening an IRA, have your employer's name and your employment status (employed, self-employed, or retired) available, though Fidelity will ask these questions during signup.

Step-by-step signup process

Go to Fidelity's website or open the Fidelity mobile app and select "Open an Account." Choose the account type that matches your goal: a taxable brokerage account for general investing, a traditional IRA or Roth IRA for retirement savings, or a joint account if you are opening with another person.

Enter your name, date of birth, Social Security number, and email address. Fidelity will ask whether you are a U.S. citizen and whether you have ever had a Fidelity account before. Answer honestly; if you have had an account in the past, Fidelity may link it to your new one or ask you to reopen the old account instead.

Next, verify your identity. Fidelity will ask you to upload a photo of your government ID (both sides) and proof of address. You can use your phone camera or upload a file from your computer. The verification usually completes within a few minutes, though it may take up to 24 hours if Fidelity needs to review it manually.

Link your bank account by entering your bank's name, your account number, and your routing number. Fidelity will make two small test deposits (usually under $1 each) to your bank account within one to two business days. You will then log back into Fidelity and confirm the amounts of those deposits to prove you own the bank account.

Review your account settings, choose whether you want paperless statements and email confirmations, and agree to Fidelity's terms. Your account will be open immediately, and you will receive a confirmation email with your account number and a link to set up your login password.

Funding your account after it opens

Once your bank account is verified, you can transfer money into your Fidelity account. Log in, go to "Transfer Funds," and select "Bank Transfer." Choose whether you want to transfer from your linked bank account to Fidelity (a deposit) or from Fidelity to your bank (a withdrawal).

Enter the amount and confirm. Most transfers take one to three business days, depending on your bank and the time of day you submit the request. Fidelity does not charge a fee for incoming transfers from your own bank account.

You can also set up automatic recurring deposits—for example, $500 every two weeks—so money moves into your account on a schedule without you having to initiate each transfer manually. This is useful if you are building an investment habit and want the money to arrive before you have time to spend it elsewhere.

Your account can hold cash even after it is funded. You do not have to invest immediately. Many people transfer money in, let it sit for a few days or weeks while they decide what to buy, and then place their first trade.

Choosing between account types

A taxable brokerage account is the most flexible. You can buy and sell stocks, bonds, mutual funds, and exchange-traded funds (ETFs) whenever you want, withdraw money anytime without penalty, and there is no annual contribution limit. You will owe taxes on dividends and capital gains each year, even if you do not withdraw the money.

A traditional IRA is for retirement savings. Contributions may be tax-deductible in the year you make them (depending on your income and whether you have a workplace retirement plan), and your investments grow tax-deferred. You cannot withdraw money before age 59½ without paying a 10% penalty plus income tax, with some exceptions. The annual contribution limit is $7,000 (or $8,000 if you are 50 or older) as of 2024, though this may change.

A Roth IRA is also for retirement, but contributions are made with after-tax dollars. Your investments grow tax-free, and you can withdraw contributions (not earnings) anytime without penalty. Withdrawals of earnings before age 59½ trigger the same 10% penalty as a traditional IRA. The annual contribution limit is the same as a traditional IRA.

A joint account is owned by two people, both of whom can buy, sell, and withdraw. Both owners are liable for taxes and losses. This is different from a beneficiary designation, which lets one person inherit the account after you die without it going through probate.

What happens after your account opens

You will receive a welcome email with your account number, a link to set your login password, and information about Fidelity's tools and resources. You can log in immediately and view your account balance, transfer history, and settings.

Fidelity will also send you a welcome package by mail with your account statements and information about how to use their website and app. You do not need to wait for the mail to start using your account.

Once you are logged in, you can research investments using Fidelity's stock screener and research tools, set up alerts for price changes, and place your first trade. If you are unsure where to start, Fidelity offers educational articles, videos, and a tool called the "Portfolio Builder" that suggests a mix of investments based on your age and risk tolerance.

You can also contact Fidelity's customer service by phone, email, or chat if you have questions. Phone support is available 24 hours a day, seven days a week.

Frequently Asked Questions

How long does it take to open a Fidelity account?

The signup process takes about 10 minutes. Identity verification usually completes within a few minutes, though it can take up to 24 hours if Fidelity reviews it manually. Bank account verification takes one to two business days for the test deposits to arrive, plus a few minutes for you to confirm them.

Do I need a minimum deposit to open an account?

No. You can open the account with zero dollars. However, some specific investments—like certain mutual funds or advisory services—may have minimum purchase amounts once you want to buy them. Most stocks and ETFs have no minimum.

Can I open multiple accounts with Fidelity?

Yes. You can have a taxable account, a traditional IRA, a Roth IRA, and other account types all under the same login. Each account has its own balance and investment holdings, and you can transfer money between them (though transfers between retirement accounts have rules).

What if I already have a Fidelity account?

Tell Fidelity during signup. They may link your new account to your existing one so you can manage both from a single login, or they may ask you to reopen your old account instead of creating a new one. Either way, you will not end up with duplicate accounts.

Can I close my account after I open it?

Yes. You can close your account anytime by transferring your money out and then requesting account closure through your account settings or by calling Fidelity. There is no penalty for closing.