Fidelity Account Type

Fidelity offers various types of brokerage accounts to cater to different investment styles and goals. The primary account types include:

• Taxable Brokerage Account: This account allows you to invest in a wide range of assets such as stocks, bonds, mutual funds, and ETFs without contribution limits. However, earnings are subject to capital gains taxes.

• Retirement Accounts: Fidelity provides options like Traditional IRAs and Roth IRAs, which offer tax advantages for retirement savings. Contributions to these accounts may be tax-deductible, and earnings can grow tax-deferred or tax-free.

• Robo-Advisory Accounts: For those looking for automated investment management, Fidelity offers robo-advisory services that create and manage a diversified portfolio based on your risk tolerance and investment goals.

• Custodial Accounts: These accounts are set up by parents or guardians for minors, allowing them to invest while being overseen by an adult.

• Margin Accounts: For experienced investors, Fidelity offers margin accounts that allow you to borrow funds against your investments to increase your buying power.

Fidelity Broker Account Opening Process

Opening a brokerage account with Fidelity is a straightforward process that can often be completed online in under 15 minutes. Here are the steps to follow:

• Choose Your Account Type: Decide whether you want a taxable brokerage account, retirement account, or another type based on your investment goals.

• Gather Required Information: You will need to provide personal information including:

• Social Security Number or Tax Identification Number
• Drivers license or government-issued ID
• Employment status and financial information (annual income, net worth)
• Investment objectives and risk tolerance

• Complete the Application: Fill out the online application form on Fidelity's website. Make sure to answer all questions accurately.

• Fund Your Account: After your account is approved, you can fund it by linking it to your bank account for electronic transfers, or by mailing a check.

• Start Investing: Once your account is funded, you can begin buying and selling investments through Fidelity's trading platform.

For more detailed information, you can visit Fidelity.