How is the mySmart Cash Account different than a typical brokerage account?
The mySmart Cash Account® is a brokerage account designed to meet your cash management needs, however it is unlike a traditional brokerage account in that it is intended to be a cash management spending account and does not permit margin trading. The mySmart Cash Account is not intended to serve as your main account for securities trading. Customers interested in securities trading should consider a Fidelity Account.® You can link a mySmart Cash Account with your Fidelity brokerage account for seamless management of your finances and investing. Finally, the automated money movement feature – the mySmart Cash Manager® – is available only through the mySmart Cash Account and automates fund transfers from your brokerage and outside bank accounts to your mySmart Cash Account, and reminds you to invest extra cash for potentially greater returns.
