Short answer: Fidelity BrokerageLink is an optional self-directed brokerage account inside some employer 401(k) plans. It lets you buy investments outside your plan’s standard fund menu, such as individual stocks, ETFs and thousands of mutual funds. Your employer decides whether to offer it, which investments are blocked, and any minimums. It adds choice and risk, and your plan’s fiduciaries do not monitor what you buy in it.
What Is BrokerageLink?
Most 401(k) plans offer a short list of funds picked by the employer. BrokerageLink is a “brokerage window”: a linked account where you move part of your 401(k) balance and invest it yourself. The money stays inside the 401(k), so contributions, taxes and withdrawal rules are the same as the rest of your plan.
What You Can (and Can’t) Buy
The rules come from your plan. As one public-sector example, a plan fact sheet lists these as available and these as blocked. Yours may differ.
| Usually available | Often restricted or blocked |
|---|---|
| Stocks and ETFs | Employer stock |
| Fidelity and non-Fidelity mutual funds | Futures and commodities |
| Bonds, Treasuries, CDs | Precious metals and physical certificates |
| American Depositary Receipts (foreign stocks) | Limited partnerships |
| Options at lower levels, if the plan allows and you are approved | Higher-level options strategies, currencies |
A fund your plan already offers in its standard menu usually cannot be bought again through BrokerageLink. Check your plan’s BrokerageLink fact sheet for the exact list.
How Much Does BrokerageLink Cost?
- Account fee: Some plans charge no annual BrokerageLink account fee. Others do. Check your plan’s fee disclosure.
- Trading costs: Fidelity publishes a BrokerageLink commission schedule. In past schedules, Fidelity funds had no transaction fee, while some non-Fidelity funds carried transaction or short-term trading fees. Costs change, so check the current schedule.
- Fund expenses: Every fund still charges its expense ratio.
- Cash: Uninvested cash typically sits in a money market fund.
See our guide to Fidelity 401(k) fees for how to read your plan’s fee disclosure.
How to Open BrokerageLink
- Check that your plan offers it. Look in NetBenefits under your plan for BrokerageLink, or ask HR.
- Read the fact sheet. It lists minimums, restrictions and fees. In one example plan, the minimum to open was $2,500 and each later transfer from the standard menu was at least $1,000. Your plan’s numbers will differ.
- Apply online or on paper. Many plans let you open it in NetBenefits. Others require a paper application.
- Move money in. Transfer from your standard plan options or direct a share of future contributions.
- Invest. Pick investments within the plan’s rules. Options trading usually needs separate approval.
Only use phone numbers and forms from your plan documents or fidelity.com. Search results for these topics are full of fake “support” numbers.
Risks and Trade-Offs
- Nobody monitors it for you. Employers monitor the standard fund menu but generally not what you hold in BrokerageLink.
- Behavior risk. More choice makes it easier to concentrate in a few stocks or trade too often.
- Compliance is on you. Prohibited transactions are blocked, and Fidelity will not tell you whether an activity complies with your plan or the tax code.
- Moving money back. Transfers from BrokerageLink back to the standard menu may go first into the plan’s default fund.
- Plan features still apply. Loans and withdrawals follow your plan’s rules, and some plans exclude BrokerageLink balances from loans.
BrokerageLink vs. Rolling to an IRA
| BrokerageLink | Rollover IRA | |
|---|---|---|
| Access to investments | Wide, within plan limits | Widest |
| Still in the plan? | Yes | No |
| Rule of 55 and plan loans | Preserved while in the plan | Rule of 55 lost; no plan loans |
| Who sets limits? | Your employer | You |
Rolling to an IRA is only possible when your plan allows it, usually after you leave the employer. See our rollover guide and withdrawal rules.
Frequently Asked Questions
Is Fidelity BrokerageLink free?
Some plans charge no annual account fee, but trading costs and fund expenses can apply. Check your plan’s disclosure.
Can I buy individual stocks in my 401(k) with BrokerageLink?
Usually yes, if your plan allows it. Some plans block certain securities, such as employer stock.
Can I trade options in BrokerageLink?
Some plans allow lower-level options with approval, while others do not. Check your fact sheet.
Why don’t I see BrokerageLink in my plan?
Your employer may not offer it. Ask HR whether a brokerage window is available.
Does BrokerageLink change my 401(k) taxes?
No. It is still your 401(k), so pre-tax and Roth rules are the same as the rest of the plan.
UseFidelity.com is an independent site and is not affiliated with Fidelity Investments. This article is general information, not tax, legal or investment advice. Figures last checked 3 November 2026.
Sources
- Fidelity BrokerageLink plan fact sheet from a public employer plan (investments, restrictions, minimums). Plan details vary.
- Fidelity BrokerageLink commission and fee schedule published by an employer plan (older schedule; fees change)