Opening and funding a Fidelity Investment account is a straightforward process that you can complete from the Fidelity app or website. You will need to provide personal information, verify your identity, choose a core position for your uninvested cash, and connect a bank account before making your first deposit.
Here is how the process works step by step.
How to Open a Fidelity Investment Account
The first step is to download the Fidelity app. You can also use Fidelity from a computer, but the mobile app provides a convenient way to complete the application and manage your account.
Once you open the app, look for the Open an Account button and tap it.
Fidelity will show you several account types. The main options include:
- General investing: A standard taxable brokerage account for stocks, ETFs, mutual funds, bonds, and other investments.
- Retirement: Includes options such as Traditional and Roth IRAs.
- Crypto: Allows eligible customers to trade supported cryptocurrencies.
- Other accounts: Includes options such as custodial accounts and 529 college savings plans.
For a standard brokerage account, select General investing and tap Next.
Choose Whether You Are Already a Fidelity Customer
Fidelity will ask whether you already have an account with the company. If you have previously used Fidelity for something such as a workplace retirement plan, select Yes so your accounts can be connected under the same login.
If you have never used Fidelity before, select No.
Next, Fidelity will ask whether the account is just for you or whether you want to share it with another person. Select Just for me for an individual brokerage account. If you are opening a joint account, select the appropriate option and provide the additional person’s information.
Enter Your Personal Information
The application will then ask for your personal details.
Enter your name exactly as it appears on your government-issued identification. You will also need to provide your:
- Mobile phone number
- Email address
- Home address
- Social Security number
- Date of birth
- Country of citizenship
Use a phone number and email address that you can access because Fidelity may send verification codes during the application process.
Your address should also be accurate and current. If Fidelity cannot automatically find it, you can enter the address manually.
Verify Your Identity
Identity verification is a standard part of opening a brokerage account. Fidelity requires information such as your Social Security number, date of birth, and citizenship information to verify your identity and meet regulatory requirements.
After entering the information, select Verify It’s Me.
There are two possible outcomes.
In some cases, Fidelity can verify your identity immediately and you can continue with the application.
In other cases, Fidelity may ask for additional documentation, such as a driver’s license or passport. You may also need to complete an identity check involving photos of your identification and a selfie.
If additional verification is required, follow the instructions provided by Fidelity and make sure you only use verification links that you were expecting after submitting your application.
Provide Employment Information
Next, Fidelity will ask how you make a living. The options can include:
- Employed
- Self-employed or business owner
- Not employed
- Retired
- Employed by Fidelity Investments
Select the option that applies to you. If you are employed, you may also need to provide information about your occupation and employer.
Being unemployed, retired, or a student does not automatically prevent you from opening a brokerage account.
You may also be asked several regulatory questions, including whether you work for a financial institution or are subject to certain regulatory requirements.
Choose Your Fidelity Core Position
One of the more important choices when opening a Fidelity Investment account is your core position.
Your core position is where your uninvested cash is held. Deposits, dividends, and proceeds from selling investments can sit in this position until you use the money.
Depending on the options Fidelity presents to you, you may see choices such as:
- SPAXX: Fidelity Government Money Market Fund
- FCASH: Fidelity’s taxable interest-bearing cash option
These options work differently, so review the current yield, terms, and tax information displayed by Fidelity before making your selection. Rates can change over time.
Your choice of core position does not mean you have invested in stocks or ETFs. It determines how eligible uninvested cash is held while it is waiting to be invested.
Review and Submit Your Fidelity Investment Account Application
Before submitting your application, carefully review the information you entered.
Fidelity will also provide documents and agreements for you to review, which may include the account agreement, information about your selected core position, and other disclosures.
Check your name, address, and other personal information carefully. Fix any errors before submitting the application.
When everything is correct, select Open My Account.
Fidelity may approve your application immediately, although some applications can require additional review. If additional verification is necessary, follow the instructions Fidelity provides rather than submitting another application.
Once your account is approved, you can create your username and password and verify your phone number with a security code.
How to Fund Your Fidelity Investment Account
Once your Fidelity Investment account is open, you need to add money before you can make investments.
From the Fidelity app, go to your profile and select Banks and Cards. Then choose Linked Accounts and Banks.
Select Add to connect your bank account.
Fidelity can provide several ways to move money into your account, including electronic funds transfers and bank wires.
Use an Electronic Funds Transfer
An EFT, or electronic funds transfer, is the standard way to move money between your bank account and Fidelity.
It is generally free and can take one to three business days, depending on the circumstances.
For most people making routine deposits, an EFT is the simplest option.
Bank wires can be faster, but your bank may charge a fee. They can make sense when timing is particularly important or when transferring a large amount.
Link Your Bank Account
When adding your bank, Fidelity may give you the option to securely connect your bank using a third-party financial data connection service.
You can search for your bank, select it, and follow the bank’s authentication process.
Alternatively, you may be able to enter your routing and account numbers manually. With manual verification, Fidelity may send small trial deposits to your bank account, which you then confirm.
The secure connection method can be faster, while manual verification may take longer.
When connecting your bank, only provide the information requested through Fidelity’s official process and review the permissions before authorizing the connection. Select the specific bank account you want to use for funding your brokerage account.
Once the connection is complete, your bank account should appear as a linked account in Fidelity.
Make Your First Fidelity Deposit
After linking your bank account, you can make your first deposit.
Choose the bank account you want to transfer money from and select your individual brokerage account as the destination.
For your first transfer, you can choose a one-time transfer and enter the amount you want to deposit.
There is generally no need to start with a large amount. Only invest money that you can leave invested for an appropriate period and do not use money needed for near-term expenses.
Before submitting the transfer, review:
- The bank account
- The Fidelity account
- The transfer amount
- The transfer date
- Whether the transfer is one-time or recurring
Then submit the transfer.
Keep in mind that deposited funds can be subject to a hold period that may affect when you can withdraw or transfer the money. Fidelity may allow some or all of the funds to be available for trading before the hold period ends.
How to Make Future Deposits
Once your bank account is linked, future deposits are much easier.
From the Fidelity app, select the Transact option and choose Transfer. Select the account you’re transferring money from, your Fidelity account as the destination, and enter the amount.
You can also set up recurring transfers if you want to contribute to your Fidelity Investment account automatically.
Automating contributions can make it easier to invest consistently without having to manually initiate every deposit.
Other Ways to Fund Your Fidelity Account
Fidelity also offers additional ways to deposit money in certain circumstances.
You may be able to deposit a physical check through the Fidelity mobile app by taking photos of the front and back of the check and entering the amount.
Another option is direct deposit. If available for your account, you can have all or part of your paycheck deposited directly into your Fidelity account.
For example, you could direct a portion of each paycheck to your brokerage account while keeping the rest in your regular checking account.
Once your Fidelity Investment account is open and funded, you can use the available cash to purchase eligible investments according to your investment strategy and risk tolerance.
