Are you ready to take control of your financial future and start investing? Opening a Fidelity investment account can be a great first step towards achieving your long-term financial goals. But before you get started, you’re probably wondering: how much does it take to open a Fidelity investment account? In this comprehensive guide, we’ll walk you through the process, highlighting the benefits, fees, and requirements of opening a Fidelity investment account.
What is Fidelity Investments?
Before we dive into the details, let’s take a quick look at what Fidelity Investments is all about. Fidelity Investments is a multinational financial services corporation based in Boston, Massachusetts. Founded in 1946, Fidelity is one of the largest and most respected investment companies in the world, with over $2.7 trillion in assets under management. Fidelity offers a wide range of investment products and services, including brokerage accounts, mutual funds, exchange-traded funds (ETFs), and retirement accounts.
Benefits of Opening a Fidelity Investment Account
So, why open a Fidelity investment account? Here are just a few benefits to consider:
Low or No Minimums
Fidelity is known for its low or no minimum balance requirements, making it accessible to investors of all levels. You can open a brokerage account with as little as $0, and start investing with just $100.
Wide Range of Investment Options
Fidelity offers an extensive range of investment products, including:
- Over 3,000 mutual funds
- Hundreds of ETFs
- Thousands of stocks and bonds
- Options and forex trading
Competitive Pricing
Fidelity is committed to providing competitive pricing for its customers. With no commission fees for online U.S. stock trades, and low fees for mutual funds and ETFs, you can keep more of your hard-earned money invested.
Expert Research and Tools
Fidelity provides its customers with access to expert research and tools, including:
- Research reports from top analysts
- Screening tools to find the right investments
- Real-time market news and analysis
Excellent Customer Service
Fidelity is known for its exceptional customer service, with 24/7 phone support, email support, and online chat.
How Much Does it Take to Open a Fidelity Investment Account?
Now that we’ve covered the benefits of opening a Fidelity investment account, let’s talk about the minimum requirements. The good news is that Fidelity has no minimum balance requirement to open a brokerage account. You can open an account with $0, and start investing with as little as $100.
However, there are some exceptions to consider:
Fidelity IRAs
If you’re opening an Individual Retirement Account (IRA), you’ll need to make an initial deposit of at least $2,500 to avoid a $25 annual fee.
Fidelity Go
Fidelity Go is a robo-advisory service that offers automated investment management. To open a Fidelity Go account, you’ll need to invest at least $10,000.
Fidelity Wealth Services
Fidelity Wealth Services is a premium advisory service that provides personalized investment guidance. To be eligible, you’ll need at least $250,000 to invest.
Fees and Commissions
Now that we’ve covered the minimum requirements, let’s take a closer look at Fidelity’s fees and commissions.
<h3,No Commission Fees
Fidelity offers commission-free online trades for U.S. stocks, ETFs, and options.
<h3,Mutual Fund Fees
Fidelity offers a range of mutual funds with varying fees. Some funds have no transaction fees, while others may charge a small fee.
<h3,Management Fees
Fidelity’s robo-advisory service, Fidelity Go, charges a management fee of 0.35% of your account balance.
<h3,Other Fees
Fidelity may charge other fees, such as:
- $0.65 per options contract
- $4.95 per online trade for mutual funds
- $32.95 per online trade for brokerage accounts with less than $1 million in assets
How to Open a Fidelity Investment Account
Opening a Fidelity investment account is a straightforward process that can be completed online or by phone.
<h3,Online Application
To open an account online, simply follow these steps:
- Visit Fidelity.com and click on “Open an Account”
- Choose the type of account you want to open (e.g., brokerage, IRA, etc.)
- Provide your personal and financial information
- Fund your account with an initial deposit (if required)
- Review and agree to the terms and conditions
- Submit your application
<h3,Phone Application
If you prefer to open an account by phone, simply call Fidelity’s customer service number at 1-800-FIDELITY (1-800-343-3548). A representative will guide you through the application process.
Conclusion
Opening a Fidelity investment account is a great way to take control of your financial future and start investing. With no minimum balance requirements, a wide range of investment options, and competitive pricing, Fidelity is an excellent choice for investors of all levels. By understanding the benefits, fees, and requirements of opening a Fidelity investment account, you can make an informed decision that’s right for you. So why wait? Open a Fidelity investment account today and start building your wealth for tomorrow.
What is a Fidelity investment account and how does it work?
A Fidelity investment account is a type of brokerage account that allows you to buy, sell, and hold various investment products such as stocks, bonds, ETFs, mutual funds, and more. When you open a Fidelity investment account, you can deposit money into it and use it to invest in the products offered by Fidelity. You can also monitor your account online, set up automatic investments, and receive statements and account updates.
Fidelity offers a range of investment accounts to suit different needs and goals, including individual brokerage accounts, IRAs, and 529 college savings plans. You can choose the type of account that best fits your investment goals and risk tolerance, and Fidelity will provide you with the tools and resources you need to manage your investments. With a Fidelity investment account, you have control over your investments and can make changes as needed.
What are the benefits of opening a Fidelity investment account?
Opening a Fidelity investment account offers several benefits, including low costs, no minimum balance requirements, and a wide range of investment options. With Fidelity, you can invest in thousands of mutual funds, ETFs, and other products with no commissions or trading fees. This means you can keep more of your money invested and potentially earn more returns. Additionally, Fidelity offers a variety of investment guidance and educational resources to help you make informed investment decisions.
Another benefit of opening a Fidelity investment account is the convenience and flexibility it offers. You can access your account online or through the Fidelity mobile app, making it easy to monitor your investments, place trades, and make changes to your account on the go. Fidelity also offers 24/7 customer support, so you can get help when you need it. Overall, a Fidelity investment account is a great option for anyone looking to take control of their investments and achieve their financial goals.
What are the requirements to open a Fidelity investment account?
To open a Fidelity investment account, you must be at least 18 years old and have a valid social security number or taxpayer identification number. You will also need to provide identification and proof of address, such as a driver’s license, passport, or utility bill. Additionally, you will need to fund your account with an initial deposit, although Fidelity does not have a minimum balance requirement.
The application process is typically quick and easy, and can be completed online or by phone. You will need to provide some personal and financial information, including your name, address, and employment information. Fidelity will then verify your identity and set up your account. Once your account is open, you can fund it with a transfer from your bank account, and start investing right away.
How do I fund my Fidelity investment account?
You can fund your Fidelity investment account in several ways, including transferring money from your bank account, rolling over an existing IRA or 401(k), or depositing a check. Fidelity also offers a mobile check deposit feature, which allows you to deposit checks using your smartphone. Additionally, you can set up automatic investments to transfer money from your bank account to your Fidelity investment account on a regular schedule.
Fidelity does not charge any fees to deposit or transfer money into your account, although your bank may charge a fee for the transfer. You can also set up wire transfers or transfer money from another brokerage account. Fidelity provides detailed instructions and guidance on how to fund your account, and their customer support team is available to help if you have any questions or issues.
What are the fees associated with a Fidelity investment account?
Fidelity is known for its low fees, and most accounts have no annual fees or minimums. Trading fees are also low, with commission-free trades on many ETFs and mutual funds. Options trades are $0.65 per contract, and Fidelity offers a range of pricing plans to suit different trading frequencies and styles. Additionally, Fidelity offers a range of no-fee index funds, which can be a cost-effective way to invest in the market.
Fidelity also offers a range of investment products and services that may have fees, such as investment advice and portfolio management. However, these fees are typically low and competitive with other brokerage firms. Fidelity is transparent about its fees, and provides detailed information on its website and in account statements. By choosing low-cost investment products and taking advantage of Fidelity’s commission-free trades, you can minimize fees and keep more of your money invested.
How do I get started with investing in my Fidelity account?
Getting started with investing in your Fidelity account is easy and straightforward. Once your account is open and funded, you can start exploring the range of investment products and services offered by Fidelity. You can browse the Fidelity website or mobile app to learn more about different investment options, read reviews and ratings, and compare fees and performance. Fidelity also offers a range of investment guidance and educational resources, including online workshops, webinars, and investment planning tools.
When you’re ready to start investing, you can use Fidelity’s online trading platform to place trades and monitor your account. You can also set up automatic investments to invest a fixed amount of money at regular intervals, which can help you invest consistently and avoid market timing risks. If you need help or have questions, Fidelity’s customer support team is available to assist you. With Fidelity, you have the tools and resources you need to take control of your investments and achieve your financial goals.
Is my money safe with Fidelity?
Yes, your money is safe with Fidelity. Fidelity Investments is a well-established and reputable financial services company that is a member of the Securities Investor Protection Corporation (SIPC). This means that your account is protected up to $500,000, including $250,000 in cash claims. Fidelity also has supplemental insurance coverage that provides additional protection for securities and cash.
Fidelity takes the security and safety of its customers’ accounts very seriously, and has a range of measures in place to protect against fraud and unauthorized activity. These include encryption, secure login protocols, and regular security audits. Fidelity also provides account alerts and notifications, so you can stay informed about activity in your account. With Fidelity, you can have confidence that your money is safe and secure.