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When I applied to enable Options trading on my Fidelity account, I had to wait 3 days plus they sent me a booklet which looked like it was printed in the 80s about the risks of options trading, they also pointed me to a section on their site with tutorials about options trading once they had enabled my account. By the time they were done I was rethinking my plan to trade options :-)

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How long ago was this?

I opened both Fidelity and E*Trade brokerage accounts in the last 3 weeks and it took minutes to submit options applications for both, at max levels. ET was approved instantly and Fidelity the next day. Not a single piece of paper from either one.

Depending on how much money you are putting in your account, you might be getting a different reaction. It also might depend on the product; I think Fidelity has at least 2 different types of trading accounts (I think one is paid). The paid one may not have as many guardrails.

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