ORD broker Accounts

Fidelity Account Type

Fidelity offers several types of brokerage accounts to meet the diverse needs of investors. The primary account types include:

• Cash Accounts: Investors must pay the full amount for securities purchased. These accounts are straightforward and involve lower risk since no borrowing is allowed.

• Margin Accounts: Investors can borrow money from Fidelity to purchase securities, allowing for greater purchasing power. However, this increases risk as investors may face margin calls if the value of their securities declines.

• Retirement Accounts: Fidelity provides various retirement accounts, including Traditional IRAs and Roth IRAs, which offer tax advantages for retirement savings.

• Education Savings Accounts: Specialized accounts designed to help save for education expenses.

• Joint Accounts: These accounts allow two or more individuals to pool their funds and invest together.

Fidelity Broker Account Opening Process

Opening a brokerage account with Fidelity is a straightforward process that typically involves the following steps:

• Choose Account Type: Decide on the type of account you want to open (Cash, Margin, Retirement, etc.).

• Complete Application: You can apply online by providing personal information, including:

• Full name
• Social Security number
• Address
• Employment information
• Financial details (e.g., annual income, net worth)

• Account Approval: The application process is quick, often taking less than 15 minutes, and approvals can be immediate.

• Fund Your Account: You can fund your account through various methods, including:

• Electronic funds transfer from a linked bank account
• Wire transfer
• Check deposit
• Start Trading: Once your account is funded, you can begin trading stocks, ETFs, and other securities immediately.

By following these steps, you can efficiently open a brokerage account with Fidelity and start your investment journey.