How to Change Your Fidelity Margin Account to a Cash Account

When I opened a taxable brokerage account with Fidelity, my account type was Margin (even though I didn’t apply for a margin account). I suspect this is still true with any new account opening.

A margin account entails a great deal of risk and responsibility. If you are not prepared for the extra leverage, you should convert your Fidelity margin account to a Cash account.

How to Convert your Fidelity Margin Account to Cash Account

  1. Login to Fidelity and collect your account details. You will need to have your account number ready.
  2. Call Fidelity customer service at 800-343-3548.
  3. Talk to a representative and request a change of account type. Tell them you want to change your Fidelity Margin account to a Cash account.

You can check the Margin Status of your Fidelity account through this page.

This process should be quick and easy. Once you get in touch with a representative, they will convert your account to a cash brokerage account.

A cash account does not come with instant settlement. This implies that you must be aware of your day-to-day trading activity.

You should also be aware that trading with unsettled cash can result in a “Good Faith Violation.” If you receive more than three (3) violations in a 12-month period, your account may be restricted for 90 days.

Hi! I'm Diego, 38, and I currently reside in New York. I work as a financial analyst. I primarily focus on initiatives involving research and data analysis.

Leave a Comment