How to Fix Fidelity Error (020275) – A Step-By-Step Guide

The error code (020275) on Fidelity indicates that your account must have penny stock trading enabled to trade securities below $5 per share.

If your Fidelity account cannot trade penny stocks, it will present you with the following message.

Error: (020275) To place this order, please call a Fidelity representative at 1-800-544-3939. You are placing an order for a security that requires you to enable penny stock trading for this account.

Here’s what you need to do.

Complete the Penny Stock Trading Agreement

To enable trading in penny stocks for your Fidelity account, you’ll need to complete the Penny Stock Trading Agreement.

  1. Log in to your Fidelity account.
  2. Navigate to this page.
  3. Select the account you’d like to use for trading penny stocks.
  4. Carefully read and accept the terms of the “Penny Stock Trading Agreement.”

Alternative Method: Contact Fidelity Support if Needed

If you encounter any difficulties while trying to complete the Penny Stock Trading Agreement, it’s best to reach out to Fidelity customer service.

They can provide further guidance and ensure that you’re set up correctly for trading penny stocks.

Insights from the Community

Here’s what some experienced investors have shared about this issue:

Blane D advises caution with penny stocks and suggests thorough research before diving in. He also recommends following the steps outlined in this guide to enable penny stock trading on your Fidelity account.

Derek R highlights that, like enabling premarket hours, you may need to contact Fidelity directly to adjust certain restrictions on your account.

Adam S brings up another restriction related to 0DTE options contracts and plans to contact Fidelity for resolution. This underlines the importance of being proactive in seeking solutions to trading restrictions.

Diego, a seasoned financial analyst in New York, brings a decade of expertise to guiding financial decisions. As a blogger for, he simplifies finance, offering insights on Fidelity Investments. Beyond numbers, he explores NYC's culture and enjoys capturing moments through his photography.

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