How to Open a Brokerage Account

Opening, a, brokerage, account, is, one, of, the, easiest, financial, steps, you'll, ever, take., You, can, usually, do, it, online, in, about, 10, minutes., Most, major, brokerages, don’t, require, a, minimum, deposit,, and, it, costs, nothing, to, open., To, verify, your, identity,, you’ll, need, your, Social, Security, number,, legal, name,, address,, and, date, of, birth., This, is, part, of, a, federal, requirement, called, Know, Your, Customer., You’ll, also, choose, an, account, type:, a, standard, taxable, brokerage, account,, or, a, tax-advantaged, account, like, an, IRA.

Since, major, brokerages, eliminated, trading, commissions, in, October, 2019,, buying, and, selling, stocks, and, ETFs, is, typically, free., Charles, Schwab, was, the, first,, closely, followed, by, Fidelity,, TD, Ameritrade,, and, E*trade., With, fractional, shares,, you, can, buy, a, specific, dollar, amount,, like, $20, worth, of, a, stock,, rather, than, needing, enough, for, a, full, share., This, means, you, can, start, investing, with, almost, any, amount, of, money,, not, just, whatever, a, single, share, costs.