ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

How To Open a Brokerage Account in Three Easy Steps

Updated on December 1, 2011

3 Steps to Opening a Brokerage Account

Opening a Brokerage account isn't difficult, and following these easy steps you will be right on your way.

First, you will want to decide if you would like a full service broker or a discount broker.

Full Service Brokers usually require that a sales person open your account. They will also help you in the selections of your stocks and answer your questions and give advice as needed. That same person will receive some commission from you as you buy and sell stocks. The commission is usually larger than what you would pay with a discount brokerage firm. This is one of the reasons you want to thin carefully about full service brokers. The down side is that while most are probably very nice and honest people, some may apply pressure to you, just so they make a commission. Unfortunately there can be a conflict of interest with a full service brokerage firm. The more they encourage you to sell and buy, the better they will do financially.

I am not by any means saying that they would do this, but it is something to consider for sure, and you will want to at the very least ask around for good advice from people you really trust first if you decide to go that route. Watch out for things like being encouraged to buy load mutual funds over no load. They make more money with load mutual funds.

A good tip is to learn how they will be compensated, ask questions. Find out if their advice is worth the price you are paying.

Discount Brokerage Companies will allow you to open an account and be the one fully in charge of that account. Its nice to be able to make all the decisions with this kind of account. Since you aren't paying anyone to to manage your account, the commissions will be lower. It may be worth looking around for some good, well known discount brokers.


The second thing you will want to do with opening a brokerage account, is to find out what the minimum required deposit is. Some brokerage firms will let you open an account with smaller amounts of money. Some even let you open one with as low as five hundred dollars. Some of the better known discount brokers have their minimums ranging from about 2000 dollars to 10,000 dollars.

The third thing is to visit the brokerage firm office' or contact them in some manner. Whether by calling a toll free number, or looking at their websites online, find out more about the brokerage firms that look interesting to you. Sometimes the best ones aren't necessarily local.

By following these easy steps, you are on your way to opening a brokerage account.

Have you ever signed up for a brokerage account?

See results


    0 of 8192 characters used
    Post Comment

    • oceansnsunsets profile image

      Paula 6 years ago from The Midwest, USA

      Thanks for your comment and visit!

    • PhoenixV profile image

      PhoenixV 7 years ago from USA

      I have traded online, it's kind of fun!


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: ""

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. (Privacy Policy)
    CloudflareThis is used to quickly and efficiently deliver files such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisements has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)