How to Set Up an Online Trading Account

Not only is owning the latest gadgets a passion for many, but utilizing them to enhance their lives is the icing on the cake.

One such technology that is growing at leaps and bounds is the online trading industry. In the past decade, more online brokerage companies have popped up allowing individuals to buy or sell securities using the provided broker’s proprietary software. The competition for new business accounts is fierce with many trading companies offering free cash, trades and other perks to entice new independent investors.

How do I set up my account?

If you have already decided on embracing online trading and have chosen an online brokerage firm, you can begin to open an online trading account. Although the steps and information may vary from company from company, you will need to complete some online forms with the following information:

  • Complete name
  • Birth Date (to prove you are over 18 years of age)
  • Social Security number (for tax recording purposes)
  • Home and or work address
  • Phone numbers
  • Security passwords of your choosing
  • You must fund the account by either mailing in a check or linking your checking account electronically

Generally the online trading company will have a link on their home page that is clearly labeled “open an account” or some similar verbiage. All you would need to to click through, follow the prompts and provide them with all the information they request along the way.

Save for Your Future
Sponsors of

There may be a couple of day verification period to ensure that your other banking account as properly linked electronically with theirs, but aside from that, opening an online trading account is quick, easy and secure. Once the online trading account is open, you will have access to your account information and the ability to move your money 24/7 (although actual trades may not occur during traditional trading hours).

Related Video

About the Author

GOBankingRates Staff

These articles are written by the in-house GOBankingRates team.

Read More

How to Set Up an Online Trading Account
Close popup livericher_png

We're here to help you Live Richer.

Sign up to receive our daily weekday newsletter with the latest finance and lifestyle content.

Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

For our full Privacy Policy, click here.