Fidelity Investments Account Types

Fidelity Investments offers a variety of account types to cater to different investment needs. Here are some of the key account types available:

• Brokerage Account: This account allows you to trade a wide range of investments, including stocks, ETFs, options, and mutual funds, with $0 commissions for online U.S. stock, ETF, and option trades. There is no minimum deposit required, making it accessible for beginners.

• Retirement Accounts: Fidelity provides several retirement account options, including:

• Traditional IRA: A tax-deferred account suitable for retirement savings, with contributions potentially tax-deductible.
• Roth IRA: Contributions are made with after-tax dollars, allowing for tax-free growth and withdrawals in retirement.
• SEP IRA: Designed for self-employed individuals and small business owners, allowing higher contribution limits.
• Simple IRA: A retirement savings plan for small businesses with fewer than 100 employees.

• Education Savings Accounts: Fidelity offers 529 College Savings Plans that allow tax-free withdrawals for qualified education expenses.

• Cash Management Account: This account combines features of a bank account with investment capabilities, offering check writing, bill pay, and a debit card, with no account fees or minimums.

• Custodial Accounts: Fidelity provides UGMA/UTMA accounts for minors, allowing adults to save and invest on behalf of a child until they reach adulthood.

• Youth Brokerage Account: Specifically designed for teens aged 13 to 17, enabling them to learn investing with parental oversight.

Fidelity Broker Account Opening Process

Opening a Fidelity brokerage account is a straightforward process that can be completed in just a few steps:

• Choose an Account Type: Visit Fidelity's website and select the type of account you wish to open, such as a brokerage account or retirement account.

• Fill Out Personal Information: Provide your full name, email address, social security number, date of birth, and residential address. You will also need to provide employment information, if applicable.

• Add Account Settings: Set your preferences for communication and account management. Fidelity will automatically place your uninvested cash into a money market account.

• Review and Confirm: Carefully review all provided information and agree to the terms and conditions. Confirm your account setup.

• Fund Your Account: You can fund your account via a bank transfer, debit card, or by transferring investments from another provider. There is no minimum deposit required to open a brokerage account.

• Start Investing: Once your account is funded, you can begin selecting investments from the thousands available on Fidelity's platform.

For more detailed information, visit Fidelity's website: Fidelity Account Opening.