Killeens Financial - Opening an Online Account

Disclaimer: I am a relative newcomer to Stocks and Shares. I offer these pages, not as an expert, but as a way of sharing my experience. I believe that I can help other newcomers to understand this world, so often expressed either in impenetrable jargon or in endless verbiage. I can also guide them to sites that I found most useful. If you want investment advice, however, I suggest you approach those who hold themselves out to be experts, e.g., brokers, online or traditional.

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Opening an Online Share-Trading Account

Opening an Online Share-Trading account is a dawdle. Go to the broker's site, fill out the application form, and follow the instructions about submitting it.

Some sites require your application form to be printed out and posted by snail mail. Others accept it either by e-mail, fax or snail-mail.

Present money-laundering precautions mean that you usually have to provide two utility bills with your name and address on them. These can sometimes be scanned in and submitted as e-mail attachments or by fax.

You either post a cheque with your application form or, more and more, arrange for an electronic transfer from your bank to the online stockbroker, using the BIC and IBAN numbers. If you have an online bank account, all this can be done from your home or office. Your account is open within a few days, you are provided with a Password, and can get cracking.

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