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Where to Open a Trump Account: Schwab, Fidelity, Vanguard & Robinhood

Short answer

You cannot open a brand-new Trump Account at Fidelity, Schwab, or Vanguard today. Robinhood is the sole initial trustee. File IRS Form 4547, activate in the Trump Accounts app, then transfer later if you want lower-fee funds or branches.

Searching for a Schwab Trump Account, Fidelity Trump Account, or Vanguard Trump Account? Here is the clear answer for 2026: Robinhood is the sole initial trustee for new accounts. Schwab, Fidelity, and Vanguard committed support and are the main options if you transfer later for fees or branches.

✅ Quick answers

  • Open today: Robinhood (sole initial trustee) — file IRS Form 4547, then activate in the Trump Accounts app.
  • Schwab: Not for brand-new opens yet — strong transfer option (SWPPX 0.02%, 400+ branches).
  • Fidelity: Transfer option with the lowest common S&P 500 fee (FXAIX 0.015%).
  • Vanguard: Transfer option for VOO / VFIAX if you already invest there.
PartnerOpen with Robinhood

Robinhood Securities is the sole initial trustee for Trump Accounts. File Form 4547 first, then activate in the Trump Accounts app.

Open Robinhood with our link →

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

✅ Key takeaways

  • Robinhood is the sole initial trustee at the July 2026 launch (with BNY / Treasury).
  • You do not open at Schwab, Fidelity, or Vanguard first — file IRS Form 4547, then activate in the Trump Accounts app.
  • Eligible kids born 2025–2028 can receive the $1,000 federal pilot once activated.
  • You can transfer to Schwab, Fidelity, Vanguard, or Bank of America later for funds or branches.
  • Partner links to Robinhood are clearly marked.

ℹ️ Editorial note on partner links

Robinhood links on this page are partner referrals. We may earn a commission at no extra cost to you. That does not change the facts: Robinhood is the sole initial trustee per the launch path described on trumpaccounts.gov and related trustee announcements. See our About page for disclosure standards.

How the Process Works

Opening a Trump Account is IRS first, then Robinhood activation:

  1. File IRS Form 4547: Include the Trump Account Election with your 2025 tax return, file through trumpaccounts.gov, or mail it to the IRS.
  2. Download the Trump Accounts app: iPhone, Android, or trumpaccount.com.
  3. Activate when notified: Register in the app. When your election is processed, activate the account (Robinhood is the initial trustee). Waiting screen explained.
  4. Start contributing: Add up to $5,000/year in after-tax dollars. Your employer can also contribute up to $2,500/year tax-free. See contribution limits.

Does Schwab Offer a 530A Account?

Not for brand-new opens at launch. Charles Schwab committed support for Trump Accounts (IRC §530A), but Robinhood Securities is the sole initial trustee. Open at Robinhood first, then transfer to Schwab if you want SWPPX (0.02% expense ratio) and 400+ branches. Full details: Trump Accounts at Schwab and Robinhood vs Schwab.

Can I Open a Trump Account at Fidelity?

Not as a first open today. Fidelity is a strong later home for FXAIX (0.015% — often the lowest common S&P 500 fee). New elections still go through IRS Form 4547 → Trump Accounts app → Robinhood. Then transfer if you prefer Fidelity. Guide: Trump Accounts at Fidelity.

Vanguard Trump Account

Parents searching Vanguard Trump Account or Vanguard login Trump Accounts usually want to know if they can open inside Vanguard. At launch: open via Robinhood first. Vanguard committed support and may accept transfers later into VOO / VFIAX. Guide: Trump Accounts at Vanguard.

Brokerage Comparison Table

Robinhood is where new accounts start. Other brokerages matter mainly for fees and transfers later:

Brokerage Role at launch Cheapest Fund Expense Ratio Branches
Robinhood Sole initial trustee Default index fund / VOO ~0.03% None
Fidelity Transfer / later option FXAIX 0.015% 200+
Schwab Transfer / later option SWPPX 0.02% 400+
Bank of America Transfer / later option IVV (iShares) 0.03% 3,700+
Vanguard Transfer / later option VOO / VFIAX 0.03% / 0.04% Limited

Our Recommendation

Start with Robinhood. It is the sole initial trustee. File IRS Form 4547, activate in the Trump Accounts app, and contribute. That is the official launch path.

PartnerOpen with Robinhood

Partner link — we may earn a commission at no extra cost to you. Then complete Form 4547 and activate in the Trump Accounts 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.

Transfer later if you want. Fidelity often wins on expense ratio (FXAIX at 0.015%). Schwab and Bank of America win on branches. Fee gaps are small over 18 years for most balances — getting started matters more.

✅ The fee difference is small — opening matters more

The gap between the cheapest fund (Fidelity, 0.015%) and ~0.03% index options is a few dollars a year on a $10,000 balance. Do not delay opening to chase a tiny fee difference. You can transfer later.

Detailed Brokerage Guides

Want a deep dive on a specific brokerage?

Trump Accounts at Robinhood

Sole initial trustee — how to open and contribute

Robinhood vs Fidelity

Why Robinhood wins for opening today

Robinhood vs Schwab

Does Schwab offer Trump Accounts? Open at Robinhood first

Trump Accounts at Fidelity

FXAIX, 0.015% ER — strong transfer option

Trump Accounts at Schwab

SWPPX, 0.02% ER, 400+ branches

Trump Accounts at Bank of America

IVV (iShares), 0.03% ER, 3,700+ branches

Trump Accounts at Vanguard

VOO, 0.03% ER, index fund pioneer

⚠️ This is educational content, not financial advice

This page is for informational purposes only and does not constitute tax, financial, or investment advice. Partner referral links are clearly marked. Always verify current details at trumpaccounts.gov and consult a qualified professional before making financial decisions.

Frequently Asked Questions

Where can I open a Trump Account?
At launch, Robinhood is the sole initial trustee. File IRS Form 4547, then activate in the Trump Accounts app. Schwab, Fidelity, Vanguard, and Bank of America committed support and may accept transfers later.
Does Schwab offer a 530A account?
Schwab committed to the program but is not opening brand-new IRC §530A Trump Accounts at launch. Robinhood is the sole initial trustee. After you open, you can transfer to Schwab for SWPPX (0.02%) and branch support. See our Schwab guide.
Does Schwab offer Trump Accounts?
Schwab committed to the program but is not the place to open a brand-new account today. Robinhood is the sole initial trustee. After you open, you can transfer to Schwab for SWPPX (0.02%) and branch support. See our Schwab guide.
Can I open a Trump Account at Fidelity?
Not as a brand-new open at launch. Fidelity committed and is a strong transfer option for FXAIX (0.015%). New accounts still start at Robinhood. See our Fidelity guide.
Does Fidelity offer Trump Accounts?
Fidelity committed and is a strong transfer option for FXAIX (0.015%). New accounts still start at Robinhood. See our Fidelity guide.
Vanguard Trump Account — can I open there?
Vanguard committed support and may accept transfers later (VOO / VFIAX). At launch, open via Robinhood first. See our Vanguard guide.
Does Vanguard offer Trump Accounts?
Vanguard committed support and may accept transfers later (VOO / VFIAX). At launch, open via Robinhood first. See our Vanguard guide.
Does Robinhood offer Trump Accounts?
Yes. Robinhood Securities is the sole initial trustee for Trump Accounts, in collaboration with BNY and the U.S. Treasury. See our Robinhood Trump Account guide.
Which brokerage is best for a Trump Account?
For opening today, Robinhood — it is the sole initial trustee. If you later transfer, Fidelity often wins on fees (FXAIX at 0.015%). Schwab is strong for branch access.
Can I switch brokerages after opening?
Yes. You can transfer (roll over) a Trump Account from one approved trustee to another without penalties. The process works like a standard IRA transfer — your new brokerage handles the paperwork.
Does it cost anything to open a Trump Account?
No. Opening is free. The only ongoing cost is the fund expense ratio on the investments held in the account.

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