search4answers
  • Business
    Business Cards: Make Them Worth your Business
  • Business
    What’s the Difference Between a Language Translator and an Interpreter?
  • Business
    The Downfalls of a Business Phone Service
search4answers
    • Health
      • 5 Tips To Reduce Bloating

        5 Tips To Reduce Bloating

      • What’s Causing Your Cough?

        What’s Causing Your Cough?

      • Is There A Cure For Depression?

        Is There A Cure For Depression?

      • Afib and Stroke: Know the Connections between Atrial Fibrillation and…

        Afib and Stroke: Know the Connections between Atrial Fibrillation and…

      • Meningitis Vaccine

        Meningitis Vaccine

      • Do You Know How To Monitor Your Blood Glucose Levels?

        Do You Know How To Monitor Your Blood Glucose Levels?

    • Finance
      • The Best Savings Account for College

        The Best Savings Account for College

      • The 6 Things You Should Know About A Company Before…

        The 6 Things You Should Know About A Company Before…

      • 5 Times You Will Definitely Need a Tax Lawyer

        5 Times You Will Definitely Need a Tax Lawyer

      • What is 401k Rollover?

        What is 401k Rollover?

      • 6 Financial Mistakes You Should Avoid When You Or Your…

        6 Financial Mistakes You Should Avoid When You Or Your…

      • How to Repay Private Student Loans Fast

        How to Repay Private Student Loans Fast

    • Mortgage
      • How Buying Points On Your Mortgage Can Improve Your Interest…

        How Buying Points On Your Mortgage Can Improve Your Interest…

      • What are Fixed Rate Mortgage Loans?

        What are Fixed Rate Mortgage Loans?

      • When Should you Refinance your Home Mortgage

        When Should you Refinance your Home Mortgage

      • What is a USDA Home Loan?

        What is a USDA Home Loan?

      • Top 6 Most Common Mortgage Questions

        Top 6 Most Common Mortgage Questions

      • The Advantages to a USDA Home Loan

        The Advantages to a USDA Home Loan

    • Auto
      • The 10 Best Hybrid Cars

        The 10 Best Hybrid Cars

      • Top 5 Crossover Vehicles With Parking Assist

        Top 5 Crossover Vehicles With Parking Assist

      • 10 Best Family Vehicles of 2016

        10 Best Family Vehicles of 2016

      • Can your Bad Credit Affect your Auto Insurance

        Can your Bad Credit Affect your Auto Insurance

      • Buying a new 2016 Toyota Truck

        Buying a new 2016 Toyota Truck

      • 5 Key Points To Saving Money On Rental Vehicles

        5 Key Points To Saving Money On Rental Vehicles

    • Business
      • Business Cards: Make Them Worth your Business

        Business Cards: Make Them Worth your Business

      • 5 Craziest Places To Shop At On Black Friday

        5 Craziest Places To Shop At On Black Friday

      • What’s the Difference Between a Language Translator and an Interpreter?

        What’s the Difference Between a Language Translator and an Interpreter?

      • 5 Questions You Should Ask Your Accident Lawyer

        5 Questions You Should Ask Your Accident Lawyer

      • 5 Ways To Find Success At Your New Job

        5 Ways To Find Success At Your New Job

      • Pros and Cons of Small Business Payroll Softwares

        Pros and Cons of Small Business Payroll Softwares

    • Medical
      • Osteoporosis Symptoms and Best Treatment

        Osteoporosis Symptoms and Best Treatment

      • What Are The Symptoms Of Pulmonary Hypertension?

        What Are The Symptoms Of Pulmonary Hypertension?

      • Being Pregnant And Dealing With Depression

        Being Pregnant And Dealing With Depression

      • 12 Rheumatoid Arthritis Signs and Symptoms

        12 Rheumatoid Arthritis Signs and Symptoms

      • Could a Vaccine Eventually Prevent High Cholesterol?

        Could a Vaccine Eventually Prevent High Cholesterol?

      • The Symptoms of COPD

        The Symptoms of COPD

    • Tech
      • Find The Best Cell Phone Plan For You

        Find The Best Cell Phone Plan For You

      • Before Online Dating There Was Video Dating

        Before Online Dating There Was Video Dating

      • The Five Best Online Dating Sites

        The Five Best Online Dating Sites

      • Factors To Consider When Buying An Electric Wheelchair

        Factors To Consider When Buying An Electric Wheelchair

      • The Top 15 Free Mobile Games 2016

        The Top 15 Free Mobile Games 2016

      • 3 Best Online Storage Services for Photos and Personal Files

        3 Best Online Storage Services for Photos and Personal Files

    • Travel
      • The Best Cruises to Take in 2016

        The Best Cruises to Take in 2016

      • Translator Apps for Your Next Vacation

        Translator Apps for Your Next Vacation

      • Read This Before You Get Travel Insurance

        Read This Before You Get Travel Insurance

      • Working While You Are Traveling

        Working While You Are Traveling

      • Sailing Away: 6 Of The Best Alaska Cruises For 2015

        Sailing Away: 6 Of The Best Alaska Cruises For 2015

      • Protect Your Home While Traveling

        Protect Your Home While Traveling

      Opening Your First Brokerage Account Online

      by Joel Carson

      First time investors should learn that patience and perseverance are greatly rewarded. This should also serve as motivation for future investors as they embark on a career in creating a long term stake in the markets. One should also do some proper research before leaping forward in an investment.One should make sure they have sufficient funds to cover any unforeseen expenses.

      The hard work is usually done once one makes the decision on which broker will be best in managing one’s online investments. All that is required to get started is to open an account and get the cash to the broker. This can be done via mail or online.

      If one is comfortable with opening a brokerage account over the internet then the online route is the best option as cash can be transferred directly from the bank account and it makes it possible for one to up and running in a couple of hours. One can also sign up by mailing a check and application which could take weeks.

      One will be asked a variety of questions which should not put any one off when opening an account. It is also expected that the broker will ask for personal information like one’s social security number. Considering that this information being shared is very sensitive, it is crucial that one understands online security. Most of these brokerage websites usually have a “start now” button or “open an account” button which any newbie will be able to see.

      Three things are needed to complete the application

      1.  The kind of account one wants to create: This can be a cash account or a margin account.
      2.   The number of people associated with this account: Is the account yours alone, or yours with your spouse? This determines whether one creates an individual or joint account.
      3.   The tax status of the account: Is this account taxable or tax deferred, such as an IRA or a college fund?

      Most brokers will tend to waive maintenance fees when one is opening an IRA account because they figure one will keep their money with them for a while. Many brokers also go ahead and waive the minimum deposit required. If this is your first go in opening an online investment account one should consider opening a retirement account first.

      You need these bits of information to open an account

      1.   Identification: This could be in form of a driver’s license or government issued identification card.
      2.   A social security number: If one is setting up a joint account, one will need the social security number of the person they are setting up the account with. This number is used for tax reporting purposes.
      3.   A bank statement of the financial institution from which you intend on transferring money from: This usually contains the account number and bank routing numbers one will need to instruct the broker to get your cash. Some brokers sometimes refuse to let one open an account with electronically transferred money if you are depositing less than 500 dollars. In such cases one needs to mail a check.
      4.   The address of your employer: This applies if one is an officer, a director or large shareholder of a publicly traded company.

      Once one has set up the account, entered all the relevant information and funded the account one is ready to go ahead and start investing.

      Featured Image: DepositPhotos/peshkov

      Posted on May 22, 2023
      Privacy Policy | Terms Of Use | Contact