Zackstrade

Accounts for Non-U.S. Citizens at Fidelity Investments in 2022


Fidelity for non-US Citizens


If you’re not a US citizen but still want to open a brokerage account with a US-based investment firm, you’re in luck. Fidelity Investments accepts applications from citizens of most countries around the world. For more information, keep reading.


Applying for a Fidelity Brokerage Account


Although Fidelity opens accounts for citizens of most countries, it will only accept applications from legal residents of the United States. Essentially, you can be a Tunisian citizen, but you have to legally reside in the US.

If you do have legal residence in America, opening an account is quite easy. You simply need to head over to Fidelity’s website and click on the Open an Account link that appears at the top of the site.

On the application page, you’ll need to choose your country of citizenship from a drop-down menu and specify your US address. There are many foreign countries available. We counted over 200 of them. They include:

  • Vatican City
  • Australia
  • Canada
  • China
  • Egypt
  • Cuba
  • North Korea
  • Liechtenstein

Although generally speaking account applicants must reside in America, persons serving in the US Armed Forces overseas can open brokerage accounts with Fidelity. There is a selection for this status in the drop-down menu for the US state of residence.


Fidelity for non US Citizens


Requirements of Foreign Accounts


Fidelity does require additional documentation from foreign applicants. These documents may include a passport, bank statement, or other records. In all cases, Fidelity will require the submission of Form W-8BEN. This IRS form will be kept by Fidelity. It establishes tax status and determines the amount of taxes withheld from dividends and capital gains. A new Form W-8BEN must be filled out every 3 years.

Due to the additional paperwork of a non-US account, Fidelity requires several business days to open a foreign account.


Global Trading Service


All Fidelity non-retirement brokerage accounts, including those opened by non-US citizens, are eligible to add global trading. This service opens up 25 foreign exchanges using 16 different currencies. Real-time market data from the various international exchanges is available. Some of the available markets include the London and Tokyo Stock Exchanges. Currencies include the Norwegian krone and the Polish zloty.

The downside of Fidelity’s international trading service is that commissions on global assets tend to be rather steep. For example, a stock trade on the Australian Securities Exchange costs AUD$32.


Moving Out of the United States


If you open a Fidelity account and then later move to a foreign country, you can expect several restrictions on your brokerage account. First, purchases of mutual fund shares will be automatically prohibited. This means that any cash added to an account will not be held in a money market fund.

Some brokerage account features, such as options trading, margin, debit cards, and check writing could be suspended in some countries.

Lastly, Fidelity’s servers do check for IP address from anyone trying to access its site. If it detects an IP address from a foreign country, the user must sign an International Usage Agreement before gaining access to Fidelity’s site.


Fidelity International as an Alternative


Although it’s not possible to open a brokerage account with Fidelity Investments without US residency, it is possible to open an account with Fidelity International, an affiliated but independent company, using an address in one of 6 countries. They are:

  • Bermuda
  • Germany
  • Hong Kong
  • Japan
  • Taiwan
  • United Kingdom


Fidelity Alternatives


Besides Fidelity International, ZacksTrade is another option for investors outside the United States. Unlike Fidelity Investments, ZacksTrade opens accounts for non-US citizens who live outside the United States. Currently, there are over 200 countries that are on ZacksTrade’s list.


Zackstrade international


To get started, investors simply need to visit the ZacksTrade application page and click on the Open an Account link. The next page will require a name and email address, and the page after that will require country of residency. There are many countries available, including most European countries and some exotics like the Pitcairn Islands.

The downsides of ZacksTrade are that there are no commission-free trades (even US trades have commissions), and a $2,500 minimum deposit is required to open an account. But if Fidelity and Fidelity International don’t have what you’re looking for, ZacksTrade is worth a shot.


Open Zackstrade Account


Open ZacksTrade Account


For a European brokerage company that provides access to U.S., EU, and Asian markets, we recommend a broker called DEGIRO. This is one of the largest trading firms in Europe. Along with low fees, you get access to more than 50 exchanges across 30 countries. Read DEGIRO Review.


Open DEGIRO Account


Open DEGIRO Account


About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.