Partner Join Robinhood → Robinhood is the sole initial trustee for Trump Accounts. Sign up with our link — we may earn a commission at no extra cost to you.
Brokerage Guides

Does Fidelity Offer Trump Accounts? (Open at Robinhood First)

Fidelity committed — FXAIX at 0.015%. Robinhood is the sole initial trustee for new opens; transfer to Fidelity later for lowest fees.

TrumpAccounts.guide Editorial Team 7 min read
Last verified:

Can I open a Trump Account at Fidelity today?

No. You cannot open a brand-new Trump Account at Fidelity at launch. Robinhood is the sole initial trustee. File Form 4547, activate in the Trump Accounts app at Robinhood, then transfer to Fidelity later if you want FXAIX (0.015%).

Does Fidelity offer Trump Accounts? If you searched “Fidelity Trump Account,” “does Fidelity offer Trump Accounts,” or “can I open a Trump Account at Fidelity,” here is the 2026 answer: open at Robinhood first (sole initial trustee). Fidelity committed support and is the strongest transfer option for fees — FXAIX at 0.015%.

Key Takeaways

  • Robinhood is the sole initial trustee for new Trump Accounts at launch.
  • Fidelity is a top transfer option — FXAIX at 0.015%.
  • No account maintenance fees or trading commissions are expected.
  • You must file IRS Form 4547 with the IRS before any account can be activated.
  • Fidelity has no minimum investment for most funds.

ℹ️ Opening today? Start with Robinhood

At launch, Robinhood is the sole initial trustee for new Trump Accounts. Fidelity committed support and may accept transfers or offer accounts later — useful if you want FXAIX fees after a trustee-to-trustee move. For the official open path now, see Trump Accounts at Robinhood.

PartnerOpen with Robinhood

Sole initial trustee for Trump Accounts. File Form 4547 first, then activate in the app.

Join Robinhood with our partner link →

Partner link: if you sign up through our Robinhood referral, we may earn a commission at no extra cost to you.

Does Fidelity Offer Trump Accounts?

Fidelity committed to supporting Trump Accounts and already custodians IRAs, 529 plans, and custodial accounts. At launch, Robinhood is the sole initial trustee — so you open there first, then transfer to Fidelity later if you want FXAIX at 0.015%.

Here is what we know as of mid-2026:

  • Robinhood is the sole initial trustee for new Trump Accounts.
  • Fidelity, Schwab, and Vanguard committed support and may accept transfers later.
  • You must file IRS Form 4547 before any account can be activated.
  • Check trumpaccounts.gov for the latest trustee list.

You do not pick a brokerage first. The process starts with the IRS. Once the account is activated, you then choose your trustee. For a full walkthrough, see our step-by-step guide to opening a Trump Account. Compare all options in where to open a Trump Account.

Fidelity's Eligible Trump Account Funds

Fidelity offers two standout funds that meet Trump Account requirements. Both track broad U.S. equity indexes. Both have expense ratios far below the 0.1% legal cap.

Fund Ticker Index Tracked Expense Ratio Fee on $10K
Fidelity 500 Index Fund FXAIX S&P 500 0.015% $1.50/yr
Fidelity Total Market Index Fund FSKAX Broad U.S. Equity 0.015% $1.50/yr

Both funds charge just 0.015%. That is 1.5 basis points. On a $10,000 balance, you pay $1.50 per year. On a $50,000 balance, you pay $7.50 per year. These are among the cheapest index funds in the entire industry.

FXAIX tracks the S&P 500. FSKAX tracks the total U.S. stock market, which includes the S&P 500 plus thousands of smaller companies. Both are expected to qualify under the Trump Account index fund requirements.

✅ FXAIX vs FSKAX: Which One?

Both cost the same. FXAIX gives you the 500 largest U.S. companies. FSKAX gives you those 500 plus thousands more. Historically, their returns are very similar. Pick either one — you cannot go wrong.

How to Open a Trump Account at Fidelity

You cannot walk into Fidelity and open a Trump Account today. The process starts with the IRS. Here are the steps:

  1. File IRS Form 4547 with your 2025 tax return. This is how you elect a Trump Account for your child. The deadline is April 15, 2026. You can also file through the trumpaccounts.gov portal when it launches mid-2026.
  2. Wait for IRS activation. The IRS will process your election and activate the account. You will receive confirmation.
  3. Select Fidelity as your trustee. Once the account is active, you choose which brokerage will hold the funds. Select Fidelity from the list of approved trustees.
  4. Choose your fund. Pick FXAIX, FSKAX, or another eligible fund. Start contributing up to $5,000 per year.

For the complete walkthrough with screenshots and tips, see our step-by-step guide to opening a Trump Account.

Fidelity Trump Account Fees

Fidelity is known for keeping costs low. Here is what to expect for a Trump Account:

  • Account maintenance fees: None expected. Fidelity does not charge annual fees for IRAs or custodial accounts.
  • Trading commissions: None expected. Fidelity offers commission-free trading on mutual funds and ETFs.
  • Fund expense ratios: As low as 0.015% for FXAIX and FSKAX. This is the only ongoing cost.
  • Minimum investment: No minimum for most Fidelity mutual funds. You can start with any amount.

The total cost of holding a Trump Account at Fidelity is essentially the fund expense ratio — and at 0.015%, that is about as cheap as it gets. For a deeper look at all the costs, see our Trump Account fees guide.

Fidelity vs Schwab vs Vanguard for Trump Accounts

Fidelity is not the only option. Schwab and Vanguard are also expected to serve as Trump Account trustees. Here is how their lowest-cost S&P 500 funds compare:

Brokerage Fund Ticker Expense Ratio Minimum Investment
Fidelity Fidelity 500 Index Fund FXAIX 0.015% None
Schwab Schwab S&P 500 Index Fund SWPPX 0.02% None
Vanguard Vanguard 500 Index Fund VFIAX 0.04% $3,000

Fidelity has the lowest expense ratio at 0.015%. Schwab is close behind at 0.02%. Vanguard's Admiral Shares fund (VFIAX) is 0.04% and requires a $3,000 minimum, though their ETF (VOO) is available at 0.03% with no minimum.

All three brokerages charge zero trading commissions and zero account maintenance fees. The main differences are fund expense ratios and minimum investment requirements.

For a side-by-side look at Schwab specifically, see our Trump Accounts at Schwab guide. For a broader ETF comparison, see Best S&P 500 ETFs for Trump Accounts.

Why Fidelity for a Trump Account?

Fidelity stands out for several reasons:

  • Ultra-low expense ratios. FXAIX at 0.015% is cheaper than most competitors. Over 18 years of compounding, every basis point matters.
  • No minimum investment. You can start with $1. This is ideal for families making small monthly contributions. Vanguard's Admiral Shares require $3,000 to start.
  • Strong customer service. Fidelity consistently ranks at the top for customer support. They have over 200 branch offices if you prefer in-person help.
  • Robust mobile app and website. Managing contributions and checking balances is easy. Their app is well-reviewed and regularly updated.
  • Long track record. Fidelity has been managing index funds since 1988. FXAIX alone holds over $500 billion in assets.

✅ The Bottom Line

Fidelity is expected to be an excellent choice for a Trump Account. Their 0.015% expense ratio on FXAIX is among the lowest in the industry. No account fees. No minimums. Strong service. File IRS Form 4547 to get started, then select Fidelity as your trustee once the account is activated.

For more on how fees affect your child's long-term balance, try the fund expense tracker.

Frequently Asked Questions

Does Fidelity offer Trump Accounts?
Fidelity committed to supporting Trump Accounts, but Robinhood is the sole initial trustee for new accounts at launch. Open at Robinhood first, then transfer to Fidelity later for FXAIX (0.015%).
Can I open a Trump Account at Fidelity?
Not for brand-new accounts today. File IRS Form 4547, activate with Robinhood (sole initial trustee), then request a trustee-to-trustee transfer to Fidelity when Fidelity accepts transfers.
What is the cheapest fund at Fidelity for a Trump Account?
FXAIX (Fidelity 500 Index Fund) has an expense ratio of just 0.015%. That is well below the 0.1% legal cap and among the cheapest S&P 500 funds available anywhere. On a $10,000 balance, you would pay just $1.50 per year.
Does Fidelity charge fees for Trump Accounts?
Fidelity is expected to charge no account maintenance fees and no trading commissions, consistent with their current pricing for IRAs and custodial accounts. The only ongoing cost would be the fund expense ratio, which is as low as 0.015% for FXAIX.

Related Articles

How to Open a Trump Account for Your Child (2026)

How to open a Trump Account for your child. Get an SSN, file Form 4547, activate the account, and claim the $1,000 deposit. Full step-by-step walkthrough.

Trump Account Fees & Expense Ratios

Expense ratios capped at 0.1%. Official lineup fees for SPYM, IVV, VTI, SPTM, and ITOT — and why low costs matter over 18 years.

Trump Account Index Fund Requirements

Funds must track the S&P 500 or a broad U.S. equity index. Expense ratios capped at 0.1%. Official Treasury lineup: SPYM, IVV, VTI, SPTM, ITOT.

Best S&P 500 ETFs for Trump Accounts

Compare Treasury’s official lineup: SPYM (default), IVV, VTI, SPTM, and ITOT. Expense ratios, indexes, and what parents can choose when.

Where to Open a Trump Account (Schwab, Fidelity, Vanguard)

Robinhood is the sole initial trustee today. Schwab, Fidelity & Vanguard are transfer options. Compare fees, funds, and how to open in 2026.

Disclaimer: This is educational content, not tax or financial advice. Consult a qualified tax professional or financial advisor before making investment decisions.

Sources: