Fidelity Account Opening Guide: How to Open an Account with Fidelity in the U.S.?

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When following the Fidelity account opening guide, you need to pay attention to each step. You should prepare personal documents in advance, choose an account type suitable for your needs, and understand the funding methods and related fees. The number of account openings by Chinese users continues to grow, with data showing that by the end of 2023, the number of registered users reached 21.64 million, a year-on-year increase of 10.5%. During the account opening process, you also need to focus on security and compliance; non-U.S. residents must provide additional tax and identity documents. By following the process, you can efficiently complete the Fidelity account opening guide.

Key Points

• Prepare personal identification, tax forms, and proof of residence in advance to ensure all required documents are complete and avoid delays in the process.
• Choose an account type based on your investment needs; retail investors can prioritize robo-advisors or trading accounts.
• Prioritize USD as the base currency for the account to facilitate global investments and fund management.
• Multiple funding methods are available; it is recommended to use wire transfers or bank-brokerage transfers through Hong Kong banks for fast and secure transactions.
• Prioritize account security by setting a complex password and enabling two-factor authentication; contact official customer service promptly in case of any anomalies to ensure fund safety.

Fidelity Account Opening Guide Process

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Online Registration

You can register online through the official website of Fidelity Fund Management (China) Co., Ltd. https://www.fidelity.com.cn/. This is the officially recognized entry point for Fidelity account opening. You need to find the “Open an Account” or “Register” button on the homepage and follow the prompts to fill in basic information. For mainland Chinese users, it is recommended to always complete the Fidelity account opening guide through Fidelity’s China website or compliant channels to avoid audit failures due to non-compliant channels. The registration process generally involves setting a username, password, and linking a mobile phone number and email address. You also need to agree to the relevant agreements and ensure the information provided is accurate and valid.

Tip: Non-U.S. residents need to prepare additional documents, such as a passport and proof of residence. The entire registration process typically takes 3-5 business days for review completion.

Personal Information Submission

In the Fidelity account opening guide, the personal information submission stage is critical. You need to truthfully provide the following information:

1. Name, ID details, facial images, mobile phone number, email address, geographic location information, and device information.
2. Emergency contact information.
3. Marital status and spouse information (name, ID number, phone number, financial information).
4. Education information (academic degree, major, alma mater).
5. Employment information (occupation, position, employer name and establishment date, employer address, work history, employer phone number, HR contact information).
6. Financial information (stock holdings, social security, housing provident fund, real estate, vehicles, life insurance policies, credit cards, car loans, and related supporting documents).
7. Residential address information.
8. Credit information and related business registration, tax, legal, administrative penalties, travel, device, third-party lending, and credit score information.
9. Audio and photo information during phone and in-person verification.
10. Audio and video recordings during video interviews.

This information is primarily used for identity verification, credit limit assessment, and risk control. If you refuse to provide certain information, you may not be able to apply for a loan limit, but it will not affect your use of other services.

Identity and Tax Verification

You need to submit copies or scanned images of valid identification documents or other proof of identity and register basic identity information. Common documents include passports, ID cards, driver’s licenses, etc. Fidelity will verify your documents during the opening of cash accounts, fund accounts, and securities accounts, and retain copies. You also need to complete tax-related forms, such as W-8BEN (for non-U.S. residents) or W-9 (for U.S. residents), to meet U.S. tax compliance requirements. The identity and tax verification process is part of the KYC (Know Your Customer) review to ensure account security and compliance.

Note: If you are a mainland Chinese user, it is recommended to prepare all documents and materials in advance to avoid delays in the Fidelity account opening guide process due to incomplete materials.

Account Activation

After completing all information submission and document provision, Fidelity will conduct a final review. Once approved, your account will be activated. After activation, you can immediately proceed with account configuration and tax information submission. Trading permissions typically become available 1-2 business days later. You can check the account status in the account dashboard and wait for trading permissions to take effect.

Tip: After account activation, it is recommended to promptly set up account security measures, such as two-factor authentication, to ensure fund safety.

Account Types and Base Currency

Account Types

When opening a Fidelity account, you can choose different account types based on your investment goals and financial situation. Fidelity offers the following main account types:

• Mutual Fund Accounts (including stock, fixed income, and sector funds).
• ETFs Accounts.
• Cash Management Accounts.
• Separately Managed Accounts.
• Individual Retirement Accounts.
• Trading Accounts (supporting stocks, bonds, options, and ETFs trading).
• Annuity Management Accounts.

Fidelity also holds a leading position in pension management, covering 401K and 403B retirement savings plans. Refer to the table below to understand the target audience, minimum investment thresholds, and key features of each account type:

When choosing an account type, consider your financial scale and investment goals. Some premium accounts have high minimum investment thresholds, so retail investors should prioritize robo-advisors or trading accounts.

Currency Selection

When opening an account, you need to select the base currency. Fidelity supports USD (U.S. dollar, current exchange rate approximately 1 USD ≈ 7.25 RMB) as the primary settlement currency. You can fund your account via wire transfer through a Hong Kong bank, which ensures relatively fast processing. For Chinese users, it is recommended to choose USD as the base currency to facilitate global investments and fund management. Some account types or regions may have minimum investment requirements, such as higher thresholds in exclusive accounts for high-net-worth clients. Before opening an account, carefully review the relevant regulations to ensure proper fund allocation.

Reminder: When selecting the base currency, prioritize USD to facilitate investments in U.S. stocks, funds, and global asset allocation.

Funding and Fees

Funding Methods

You can choose multiple methods to fund your Fidelity account. Common methods include bank-brokerage transfers and EDDA quick funding. Bank-brokerage transfers are suitable for operations through Hong Kong banks, with deposits arriving in minutes and withdrawals processed on the same day, free of transfer fees, though some banks may charge fees. EDDA quick funding can arrive in as fast as 5 minutes with no fees and supports 24/5 operations, but it is only supported by select brokers. When choosing a funding method, ensure the bank supports the relevant services to avoid delays due to incompatible channels.

It is recommended to prioritize wire transfers or bank-brokerage transfers through Hong Kong banks to ensure fund safety and efficiency.

Fee Structure

Since 2019, Fidelity has eliminated online trading commissions for U.S. stocks, ETFs, and options. You do not need to pay commissions when trading these products. Advisory service commissions have also been reduced to zero. Fidelity creates value for clients by enhancing money market account yields and order flow. Compared to platforms like Charles Schwab and Interactive Brokers, all three offer zero-commission trading, but Schwab’s management fee ranges from 0.06% to 0.43%, and Interactive Brokers’ professional tools still require payment. Fidelity’s fee structure offers a competitive advantage, making it suitable for cost-conscious investors.

There is no minimum funding requirement for opening an account. Even for participating in U.S. IPOs, you only need to meet funding or trading frequency conditions. This provides greater flexibility in fund allocation. When selecting accounts and services, pay attention to the fee details of specific products to plan investment costs effectively.

Security and Regulation

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Account Security

When using your Fidelity account, you must prioritize account security. Fidelity is regulated by the U.S. Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). During account opening, you will undergo KYC (Know Your Customer) reviews and credit checks to effectively prevent identity theft and money laundering risks.
To further secure your account, Fidelity’s official recommendations include the following measures:

1. Choose a complex and memorable password, avoiding personal information like birthdays or names. Regularly update passwords and use different passwords for important accounts.
2. Keep your computer system and antivirus software updated, ensure router security, and change default administrator passwords promptly.
3. Recognize fraudulent behavior. Fidelity will not request your password via phone or email, ask you to provide financial information through unofficial channels, or send personnel to collect information or cash in person.
4. Be aware of official practices. Fidelity will not ask you to conduct online trading tests, provide services through unofficial apps, or pressure you to make quick financial decisions.
5. When logging in, verify the website’s security indicators to confirm authenticity and avoid visiting suspicious sites.
6. If you encounter suspicious situations, contact Fidelity’s official customer service or the police.

Reminder: Never share your account password or verification codes with others. Take immediate action in case of anomalies to ensure fund safety.

Investor Protection

After opening a Fidelity account, your funds are protected by multiple safeguards. As a major U.S. broker, Fidelity strictly adheres to SEC and FINRA regulatory requirements. Your investment account funds are segregated from the company’s own funds, ensuring Fidelity cannot misappropriate client funds.

The Securities Investor Protection Corporation (SIPC) provides up to 500,000 USD (including up to 250,000 USD in cash, current exchange rate approximately 1 USD ≈ 7.25 RMB) in protection for your securities account. In the event of broker insolvency, SIPC will compensate for losses. You can also enhance fund safety by transferring funds through Hong Kong banks.

In daily operations, regularly monitor account changes and stay updated with official notifications. If you encounter any anomalies, contact Fidelity’s customer service immediately to protect your investment rights.

When completing the Fidelity account opening guide, pay close attention to the following key steps:

1. Prepare personal information such as mailing address, Social Security Number, and employment details in advance.
2. Choose an appropriate account type based on your needs, such as taxable accounts or retirement accounts.
3. Non-U.S. residents must accurately provide nationality and tax information and submit the W-8BEN form promptly after opening the account.
4. Enable online transfer functions to ensure smooth fund flow.
5. Pay attention to account opening rewards and related fees to avoid issues due to incorrect information.

If you have any questions, you can contact Fidelity’s customer service through the following methods:

FAQ

What are the main documents required for opening a Fidelity account?

You need to prepare a passport, proof of residence, tax forms (e.g., W-8BEN), and Hong Kong bank account information. You also need to complete a personal information form. It is recommended to scan all documents in advance for easy uploading.

Can non-U.S. residents open an account with a Chinese ID?

You cannot open an account with only a Chinese ID. You must provide a passport and proof of residence. Fidelity requires non-U.S. residents to submit internationally valid identification documents.

What funding methods are available, and how long do they take?

You can fund your account via wire transfer or bank-brokerage transfer through Hong Kong banks. Wire transfers typically take 1-2 business days to process. Bank-brokerage transfers arrive in minutes. Processing speed depends on the bank’s efficiency.

What are Fidelity’s main fees?

You pay no commissions for trading U.S. stocks, ETFs, or options. Some managed products have management fees. Fund withdrawals may incur fees from Hong Kong banks. All amounts are in USD, with the current exchange rate approximately 1 USD ≈ 7.25 RMB.

How can I ensure account security?

Set a complex password and enable two-factor authentication. Never share account information with others. Fidelity is regulated by the SEC and FINRA. Contact official customer service immediately in case of anomalies.

Opening a Fidelity brokerage account can be a complex process, especially for non-US residents. Even after completing the account opening, the challenge remains: how to transfer funds to your Fidelity account efficiently and at a low cost. Traditional wire transfers often come with high fees, opaque exchange rates, and lengthy processing times, significantly impacting your investment efficiency.

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