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Managing Your Account

Understanding Your Balances

Use your account's Balances page to view Cash and/or Margin related balances at a glance:

  • Obtain real-time account valuation for your account's total value as well as other key balance information.
  • Determine how much money you have available to purchase securities (updated intraday with trade executions and money movement into and out of the account).
  • See how much you have available to withdraw from an account either in Cash or borrowing on Margin.

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Cash vs. Margin Accounts

All new accounts are established as Cash accounts unless you have submitted a margin application and been approved for margin trading. Because Margin accounts allow for trading on credit, they have several balance fields that Cash accounts would not have. Accounts identified by trade activity as Pattern Day Trade accounts also include balance fields not displayed for other account types.

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Real-Time, Intraday, and Overnight

  • Real-time: Balances updated Real-time display values that change with market price fluctuations on the underlying securities in your account. Essentially, it is a complete recalculation based on price fluctuations of positions, trade executions, and money movement into or out of the account.
  • Intraday: Balances updated Intraday reflect trade executions and money movement into and out of the account during the day.
  • Overnight: Balances updated Overnight display values after a nightly update of the account. In some cases, certain balance fields can only be updated overnight due to regulatory restrictions.

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Show/Hide Balances

For both Cash and Margin accounts, your initial (default) view of the Balances page displays a high-level, collapsed view of your account balances. This overview is designed to provide answers to the basic questions about an account—how much it's worth, how much you can buy, and how much you can withdraw.

Cash Accounts: For more detailed information about your account balances, you can expand the balances table by clicking Show All or you can expand an individual section by clicking the "+" sign to the left of any section name , or just clicking the name of the section. When the table is expanded for a detailed view of individual balance fields, the "+" sign becomes a "-" sign that you can click to collapse the table and return to the summary view. If all the sections of the balances table have been expanded (because you either clicked Show All or expanded each section individually), you can collapse the table and return to the summary view by clicking either Hide All or the "-" sign to its left.

Margin Accounts: For more detailed information about your account balances, you can expand the balances table by clicking Show All or you can expand an individual section by clicking the "+" sign to the left of any section name, or just clicking the name of the section. When a section is expanded for a detailed view, the "+" sign becomes a "-" sign that you can click to collapse that section, or you can just click the section name again to collapse that section. If all the sections of the balances table have been expanded (because you either clicked Show All or expanded each section individually), you can collapse the table and return to the summary view by clicking either Hide All or the "-" sign to its left.

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Positive/Negative and Credit/Debit

  • Positive/Negative: All values in the Current column are reflected as positive values unless the calculation for a specific balance field results in a negative number or money is due to meet certain requirements. In this case, the number will be reflected with a minus sign "-" in front of it.
  • Credit/Debit: Certain field names will change depending on whether the value is positive (Credit) or negative (Debit). Whether the balance field indicates Credit or Debit, the amount is always represented as a positive value. For example, if you have money due to you from the execution of trades in your Margin account, the amount owed to you is displayed as a Margin Credit. If instead, you owe money from the execution of trades in your Margin account, the amount you owe is displayed as a Margin Debit. Both values display as positive numbers, and the field name (in this example, Margin Credit or Margin Debit) reflects whether the value is a credit or debit to your account.

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Cash Account Balances and Descriptions

Option Balances appear if Option Agreement exists.

Balance Description Update Frequency
Total Account Value
Total Account Value The total market value of all positions in the account, including Core, minus any outstanding debit balances and any amount required to cover short option positions that are in-the-money. Real-Time
Cash(Core) Account settlement position for trade activity and money movement. Executed Buy orders and cash withdrawals will reduce the Core, and executed Sell orders and cash deposits will increase the Core. Overnight
Cash Credit/Cash Debit A Cash Credit is an amount that will be credited to (positive value) the Core at trade settlement. A Cash Debit is an amount that will be debited to (negative value) the Core at trade settlement. Intraday
Held in Cash The total market value of all long cash account positions. This figure is reduced by the value of any in-the-money covered options and does not include cash in the Core Money Market. Real-Time
Held in Options The market value of all long and short option positions held in the account. Real-Time
Cash Available to Trade
Cash Available to Trade The amount available to purchase securities in a Cash account without adding money to the account. Executed Buy orders will reduce this value (at the time the order is placed), and executed Sell orders will increase this value (at the time the order executes). Intraday
Cash(Core) Account settlement position for trade activity and money movement. Executed Buy orders and cash withdrawals will reduce the Core, and executed Sell orders and cash deposits will increase the Core. Overnight
Cash Credit/Cash Debit A Cash Credit is an amount that will be credited to (positive value) the Core at trade settlement. A Cash Debit is an amount that will be debited to (negative value) the Core at trade settlement. Intraday
Uncollected Deposit Recent deposits that have not gone through the bank collection process and are unavailable for online trading. The normal check and electronic funds transfer (EFT) collection period is 4 business days. Overnight
Committed to Open Orders The dollar amount allocated to pending orders that have not yet been executed (e.g., Buy orders). The amount you have Committed to Open Orders decreases your Cash Available to Trade. Intraday
Settled Cash The portion of your Cash (Core) balance that represents the amount of securities you can Buy and Sell in a Cash Account without creating a Good Faith Violation. This amount includes proceeds from transactions settling today MINUS unsettled buy transactions, short equity proceeds settling today and the intraday exercisable value of option positions. Additionally, uncollected deposits may not be reflected in this balance until the deposit has gone through the bank collection process which is usually 4 business days. Intraday
Cash Available to Withdraw
Cash Available to Withdraw Amount collected and available for immediate withdrawal. This balance includes both Core and other Fidelity Money Market funds held in the account. This balance does not include deposits that have not cleared. Sell orders are reflected in this balance on settlement date and Buy orders are reflected on trade date. Intraday
Cash (Core) Account settlement position for trade activity and money movement. Executed Buy orders and cash withdrawals will reduce the Core, and executed Sell orders and cash deposits will increase the Core. Overnight
Other Money Markets All Fidelity Money Market Funds, other than Core, held as positions in the account. Overnight
Options Balances
Options in the Money Options that have intrinsic value. A call option is considered "in-the-money" if the price of the underlying security is higher than the strike price of the call. A put option is considered "in-the-money" if the price of the security is lower than the strike price. Real-Time
Cash Covered Put Reserve The value required to cover short put option contracts held in a Cash account. Cash Covered Put Reserve is equal to the options strike price multiplied by the number of contracts purchased, multiplied by the number of shares per contract (usually 100). Cash Available to Buy Securities, Cash Available to Withdraw, and Available to Withdraw values will be reduced by this value. Intraday
Cash Spread Reserve The requirement for spread positions held in a retirement account. For debit spreads, the requirement is full payment of the debit. For credit spreads, it's the difference between the strike prices or maximum loss. A $5,000 minimum equity deposit is required in addition to the debit or credit requirement. Overnight

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Margin Account Balances and Descriptions

Option Balances appear if Option Agreement exists. Day Trade Balances appear if Pattern Day Trade Account.

Balance Description Update Frequency
Total Account Value
Total Account Value The total market value of all positions in the account, including Core Money Market, minus any outstanding debit balances and any amount required to cover short option positions that are in-the-money. Real-Time
Core Money Market Account settlement position for trade activity and money movement. Executed Buy orders and cash withdrawals will reduce the Core, and executed Sell orders and cash deposits will increase the Core. Overnight
Cash Credit/Cash Debit A Cash Credit is an amount that will be credited to (positive value) the Core at trade settlement. A Cash Debit is an amount that will be debited to (negative value) the Core at trade settlement. Intraday
Margin Credit/Debit A margin credit indicates the amount due to you based on margin trade executions or an amount needed to meet margin requirements. On settlement date, this amount would be journaled to your Core if there is surplus in the Margin account. A margin debit indicates the amount you owe Fidelity based on margin trade executions. If there is cash in your Core, a journal would take place on settlement date to reduce this debit balance. If there was not enough cash in the Core, you would start paying margin interest on this value at settlement. Intraday
Short Credit/Short Debit A margin credit indicates the amount due to you based on margin trade executions or an amount needed to meet margin requirements. On settlement date, this amount would be journaled to your Core if there is surplus in the Margin account. A margin debit indicates the amount you owe Fidelity based on margin trade executions. If there is cash in your Core, a journal would take place on settlement date to reduce this debit balance. If there was not enough cash in the Core, you would start paying margin interest on this value at settlement. Intraday
Market Value of Securities
Held in Cash The total market value of all long Cash account positions. This figure is reduced by the value of any in-the-money covered options and does not include shares bought on Margin, shares held short, or cash in the Core Money Market. Real-Time
Held in Margin The total market value of all long Margin account positions. This figure is reduced by the value of any in-the-money covered options and does not include shares held as Cash positions, shares held short, or cash in the Core Money Market. Real-Time
Held Short The total market value of all positions held short in the account. This figure is reduced by the value of any in-the-money covered options and does not include shares held as Cash or Margin positions, or cash in the Core Money Market. Real-Time
Held in Options The market value of all long and short option positions held in the account. Real-Time
Available to Trade
Intraday Buying Power This balance field applies only to Pattern Day Trade accounts. Unlike Day Trade Buying Power, this value does update intraday to reflect day trade executions, money movement into and out of the account, core cash, and buying power allocated to open orders. Intraday
Margin Buying Power (Fully Marginable Securities) The maximum dollar amount available, including both cash and margin, to purchase marginable securities without adding money to your account. The balance includes open order commitments, intraday trade executions, and money movement into and out of the account. Intraday
Non-Margin Buying Power (Options, Mutual Funds, Penny Stocks) Margin buying power available to purchase securities that are not marginable (have a 100% margin requirement). Intraday
Committed to Open Orders The dollar amount allocated to pending orders that have not yet been executed (for example, Buy orders and short sale orders). The amount you have Committed to Open Orders decreases your Buying Power. Intraday
Available to Withdraw
Cash Only (Core + Other Money Markets) Amount collected and available for immediate withdrawal. This balance includes both Core and other Fidelity Money Market funds held in the account. This balance does not include deposits that have not cleared. Proceeds from Sell orders are reflected in this balance on settlement date. Intraday
Cash & Borrowing on Margin Total amount collected and available for immediate withdrawal. This balance includes both Core and other Fidelity Money Market funds held in the account as well as the amount available to borrow generated from securities held in margin. This balance does not include deposits that have not cleared. Proceeds from Sell orders are reflected in this balance on settlement date. Withdrawals that exceed the cash in the account by using loan value generated from positions held in margin will increase the margin debit balance in the account. Intraday
Additional Balances
Margin Equity The value of all securities held in margin, minus the amount of in-the-money covered options and margin debt (if any) in the account. Real-Time
Margin Equity Percentage The margin equity, as a percentage of the margin market value of the account. For example, if the margin market value is $150,000 and you borrow $25,000 on margin (giving you a margin equity balance of $125,000), the margin equity percentage is 83.3% (125,000 divided by 150,000). Real-Time
House Surplus/Call A House Surplus is the amount of margin equity in the account above the Fidelity minimum requirement (which ranges from 30% to 100%). If the margin equity in the account falls below Fidelity's minimum requirement, this value will be reflected as a House Call. Generally, house calls must be met within 5 business days, but Fidelity may cover the call at any time. Real-Time
Exchange Surplus/Call An Exchange Surplus (also known as NYSE Surplus) is the amount of margin equity in the account above the NYSE minimum requirement (currently 25%). If the margin equity in the account falls below 25%, this value will be reflected as an Exchange Call. Generally, exchange calls must be met within 48 hours, but Fidelity may cover the call at any time. Real-Time
SMA/Fed Call Special Memorandum Account/Federal Call. When the margin equity in the account exceeds the federal "Reg T" requirement of 50%, the amount in excess of the requirement is referred to as the SMA. If the Reg T initial requirement is not met, a Fed Call is issued against the account. Generally, Fed Calls must be met within 5 business days, but Fidelity may cover the call at any time. Intraday
Additional Buying Power
Day Trade Buying Power (Start of Day)/Minimum Equity Call This balance field only applies to Pattern Day Trade accounts. It represents a start of day value and does not update during the course of the trading day to reflect trade executions or money movement. A Pattern Day Trade account is required to maintain minimum margin equity of $25,000. If the margin equity falls below this value, this field name will change to Minimum Equity Call and the value indicated is what is due to meet the minimum equity requirement. Overnight
Cash Buying Power The amount available to purchase securities in a Cash account without adding money to the account. An executed Buy order will reduce this value, and an executed Sell order will increase this value at the time the order executes. Intraday
Settled Cash The portion of your Cash (Core) balance that represents the amount you can buy and sell of a security in a Cash Account without creating a Good Faith Violation. This amount includes proceeds from transactions settling today minus unsettled buy transactions, short equity proceeds settling today and the intraday exercisable value of option positions. Additionally, uncollected deposits may not be reflected in this balance until the deposit has gone through the bank collection process which is usually 4 business days. Intraday
Corporate Bonds Margin buying power available to purchase Corporate Bonds. Most Corporate bonds are marginable, but margin requirements may vary based on the type of bond. Intraday
Municipal Bonds Margin buying power available to purchase Municipal Bonds. Intraday
Government Bonds Margin buying power available to purchase Government Bonds. Intraday
Day Trade Call A Day Trade Call is generated whenever an executed day trade exceeds the account's Day Trade Buying Power. Customers have 5 business days to meet the call. Overnight
Additional Option Balances
Options in the Money Options that have intrinsic value. A call option is considered "in-the-money" if the price of the underlying security is higher than the strike price of the call. A put option is considered "in-the-money" if the price of the security is lower than the strike price. Real-Time
Cash Covered Put Reserve The value required to cover short put option contracts held in a Cash account. Cash Covered Put Reserve is equal to the options strike price multiplied by the number of contracts purchased, multiplied by the number of shares per contract (usually 100). Cash Available to Buy Securities, Cash Available to Withdraw, and Available to Withdraw values will be reduced by this value. Intraday
Cash Spread Reserve The requirement for spread positions held in a retirement account. For debit spreads, the requirement is full payment of the debit. For credit spreads, it's the difference between the strike prices or maximum loss. A $5,000 minimum equity deposit is required in addition to the debit or credit requirement. Overnight

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Margin Calculator

Fidelity's Margin Calculator lets you calculate the impact of hypothetical equity trades on your margin balances and buying power while also factoring in the specific margin requirements for your account. With the Margin Calculator, you can:

  • Check the impact several margin trades will have on your overall margin balances
  • Determine how many shares you may purchase of a particular security
  • Determine how many shares of a specific security to sell to meet a margin call
  • Estimate the cost of placing a trade on margin for a specific account
Illustration of key features of Margin Calculator, which estimates the impact of equity trades on your margin balances and buying power. Call a specialist to learn more at 1-800-353-4881.

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Margin trading entails greater risk, including but not limited to risk of loss and incurrence of margin interest debt, and is not suitable for all investors. Please assess your financial circumstances and risk tolerance prior to trading on margin.

Margin credit is extended by National Financial Services, member NYSE, SIPC, a Fidelity Investments company.

Before investing, consider the funds' investment objectives, risks, charges and expenses. Contact Fidelity for a prospectus containing this information. Read it carefully.

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