What you need before you start

Fidelity will ask for your Social Security number, date of birth, address, and employment information. Have a government-issued ID ready—a driver's license or passport works. You'll also need to decide what type of account you want: an individual account, a joint account, an IRA, or a taxable brokerage account. Each one has different tax treatment and contribution rules, so knowing which one matches your goal before you begin saves time.

You'll need a way to fund the account. Fidelity accepts bank transfers, wire transfers, and checks. If you're moving money from another brokerage, you can request a direct transfer of your existing positions—Fidelity calls this an ACAT transfer (Automated Customer Account Transfer). That process usually takes five to seven business days, and your old brokerage may charge a fee.

If you're opening an IRA, you'll need to decide between a Traditional IRA (contributions may be tax-deductible) or a Roth IRA (withdrawals in retirement are tax-free). This choice depends on your income and tax situation, so consider talking to a tax professional if you're unsure.

Key Takeaways

  • You can open a Fidelity brokerage account online in about 10 minutes, but funding it and being ready to trade takes an additional one to three business days depending on your funding method.
  • Fidelity requires your Social Security number, date of birth, address, and employment information, plus a government-issued ID.
  • Transferring existing investments from another brokerage takes five to seven business days and may include a fee from your old brokerage.
  • Choosing between a taxable account, IRA, or other account type before you start prevents delays and ensures your money goes into the right structure for your goals.

The online account opening process

Go to Fidelity's website and click "Open an Account." You'll choose your account type first—this is where you pick individual, joint, IRA, or taxable brokerage. Fidelity then walks you through a form asking for your name, address, Social Security number, date of birth, employment status, and annual income. The form takes about 10 minutes to complete.

You'll set up your username and password during this process. Fidelity will also ask security questions and may ask you to verify your identity by uploading a photo of your ID. Some applicants get when ready approval; others receive a message that Fidelity needs to review the process and will contact them within one business day.

Once approved, you'll receive a confirmation email with your account number. At this point your account exists, but you cannot trade yet—you need to fund it first.

Funding your account and when you can start trading

The speed at which you can trade depends entirely on how you fund the account. A bank transfer from your checking or savings account takes one to three business days to clear. During that time, your money is in transit and you cannot use it yet. Wire transfers are faster—usually same-day or next business day—but many banks charge $15 to $30 for outgoing wires.

If you mail a check, Fidelity must receive it, deposit it, and wait for it to clear. This typically takes seven to ten business days. Fidelity will send you a prepaid envelope if you ask, but mailing is the slowest option.

If you're moving investments from another brokerage using an ACAT transfer, Fidelity initiates the request on your behalf. Your old brokerage then has up to six business days to send your positions, though most complete the transfer in five to seven days. During the transfer, your investments remain in your old account and continue to trade normally. Once they arrive at Fidelity, you can sell or trade them when ready.

Account types and what each one is for

A taxable brokerage account has no contribution limits and no withdrawal restrictions. You pay taxes on dividends and capital gains each year. This is the right choice if you've already maxed out retirement accounts or want to invest money you'll need before age 59½.

A Traditional IRA lets you contribute up to $7,000 per year (or $8,000 if you're 50 or older). Contributions may be tax-deductible depending on your income and whether you have a workplace retirement plan. You pay taxes on withdrawals in retirement. Withdrawals before age 59½ usually trigger a 10% penalty plus income tax, with some exceptions.

A Roth IRA also has a $7,000 annual contribution limit, but contributions are made with after-tax money. Withdrawals in retirement are tax-free. You can withdraw your contributions (not earnings) at any time without penalty. Roth IRAs have income limits—if you earn above a certain threshold, you cannot contribute directly, though you may be able to use a "backdoor Roth" strategy.

A joint account is owned by two people and either owner can trade or withdraw. Both owners are liable for taxes and losses. This works for couples or business partners, but creates complications if the relationship ends.

What happens after your account is funded

Once your money clears, Fidelity sends you a welcome packet with your account details. You can log in to your account online or through the Fidelity mobile app to see your cash balance and begin placing trades. Fidelity offers stocks, bonds, mutual funds, ETFs, and options trading. If you want to trade options, you'll need to request options approval separately—Fidelity reviews your experience and financial situation before granting it.

You can set up automatic transfers from your bank to Fidelity if you want to invest regularly. Fidelity also offers fractional shares, meaning you can buy a portion of a stock rather than waiting to afford a full share. This is useful for lower-priced stocks or if you want to invest a fixed dollar amount each month.

If you have questions after opening your account, Fidelity offers phone support, live chat, and email. Phone lines are typically open Monday through Friday, 8 a.m. to 10 p.m. Eastern time.

Moving money from another brokerage

If you already have investments elsewhere and want to move them to Fidelity, request an ACAT transfer rather than selling everything and transferring cash. An ACAT transfer moves your actual positions—stocks, funds, bonds—directly from your old brokerage to Fidelity. You keep the same shares and don't trigger a taxable sale.

To start an ACAT transfer, log into your Fidelity account and go to the "Transfer Positions" section. You'll enter your old brokerage's name and your account number there. Fidelity contacts your old brokerage and requests the transfer. Your old brokerage may charge an outgoing transfer fee (typically $25 to $50), though some brokerages waive it. Fidelity does not charge to receive a transfer.

During the transfer, your positions remain at your old brokerage and continue to trade. Once the transfer completes, those positions appear in your Fidelity account and you can sell or trade them. If your old brokerage holds cash, that transfers too, though it may take an extra day or two.

Frequently Asked Questions

How long does it take to open a Fidelity account?

The online process takes about 10 minutes. Approval is usually when ready, but can take up to one business day. Funding the account and being ready to trade takes an additional one to three business days for bank transfers, or same-day to next business day for wire transfers.

Can I open an account if I don't have a Social Security number?

No. Fidelity requires a Social Security number or Individual Taxpayer Identification Number (ITIN) for tax reporting. If you're a non-citizen, an ITIN may work, but contact Fidelity directly to confirm before starting the process.

What's the minimum amount I need to open an account?

Fidelity has no minimum deposit to open a brokerage account. You can open an account with $0 and fund it later. Some Fidelity products, like certain managed accounts or advisory services, do have minimums, but a basic brokerage account does not.

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 your name at Fidelity. Each account has its own number and tax treatment. This is useful if you want to keep different investment goals separate.

What if Fidelity denies my process?

Fidelity rarely denies applications, but if yours is denied, you'll receive a letter explaining why. Common reasons include identity verification issues or a mismatch between the information you provided and what's on file. Contact Fidelity to clarify the issue and reapply if needed.