Fidelity Account Type

Fidelity offers various types of brokerage accounts, including cash accounts and margin accounts. A cash account allows investors to buy securities only with the available cash in the account, while a margin account enables investors to borrow money from the broker to purchase additional shares, effectively leveraging their investments. Fidelity's brokerage accounts provide commission-free trading for stocks and ETFs, along with access to a wide range of mutual funds, research tools, and educational resources.

Fidelity Broker Account Opening Process

• Choose the Account Type: Decide whether to open a cash or margin account based on your investment strategy.

• Gather Required Information: Prepare personal information, including:

• Legal name
• Current address
• Social Security number or tax ID
• Employment status and annual income
• Investment goals and experience

• Complete the Application: Fill out the online application form on Fidelity's website. The process typically takes about 15 minutes.

• Fund Your Account: Once your application is approved, fund your account through:

• Electronic funds transfer (EFT) from your bank
• Wire transfer for immediate access
• Check deposit (availability may vary)
• Transfer of assets from another brokerage

• Start Investing: After funding your account, you can begin trading stocks, ETFs, and other securities.

• Practice Trading: Consider using Fidelity's demo platform to practice trading strategies without risking real money.

For more information, visit Fidelity.