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Opening A Stockbroker Account

With the rise of digital fraud has come an increased amount of red tape to go through, for the individual who wants to open a stock brokerage account. Global issues such as money laundering has made it important for stock broking companies to put in place procedures to verify your identity.

Typically, here’s how a simple execution only broker account would be opened:

1. The potential account holder must provide information such as proof of address and national insurance number. Physical copies may also be requested in some cases.
   
2. The potential account holder must submit their bank account details.
   
3. A certain amount of cash must be deposited with the stockbroker to open the account. The actual amount varies depending on the stockbroker.
   
4. After all the details are processed the account will be opened for business.