7 Must-Haves to get registered with Stock Trading Platforms
Getting registered with stock trading platforms is a process that can be complicated and time-consuming. There are many steps to take, documents to complete, and forms to submit for approval before you can trade stocks online. But if you want the benefits of investing in the markets without hassle, it’s worth it.
Here are few must-haves to get registered with stock trading platforms
- Personal Identification Documents
To trade stocks online, you must be at least 18 years old and a permanent resident in your country. After that, the next step is to prove who you are with identification documents such as:
– Passport or government-issued photo ID (driver’s license)
– Birth certificate/national identity card
– Utility bill displaying your address from within the last three months
- Personal Financial Documents
If you want to trade in the stock market, your income must be sufficient for this.
– Proof of funds: Your bank statement or investment account showing a minimum deposit with an equivalent value of $2000
– Annual Income Statement (W-G): This form shows all wage earnings from within the country and can be requested by employers; if self-employed, you should ask one yourself directly from the tax office. The Streaming quote (串流報價) is the latest quote for the stock you want to buy or sell.
- Access to a Computer
It would help if you had an active computer or smartphone with a reliable internet connection, as well as email account(s) and social media accounts for trading purposes.
- Personal Economics Background
It doesn’t mean you need a degree in economics or to have studied markets before. However, understanding the basics of how stock market trading works is important and having an idea of what makes for good investments and why some investments perform better than others over time.
- Know how to Trade Stocks
There is no way around this one – you need knowledge of how trading works. If you know what stocks are, why they rise and fall in value over time, that’s enough for now! You can learn more about the basics on different stockbroker websites or by watching online tutorials.
A good stockbroker will provide their customers with educational materials such as e-books, videos, webinars, etc.
- Access to a Bank Account
You must have access to a bank account to deposit funds and buy stocks. It should be an active, working account with your name on it (the same one you will provide for identification purposes). If the stockbroker of choice does not accept your current bank, open additional savings or checking account at another bank that can be used exclusively for investing
- Investment Research Skills
Once you have everything else in order, it’s time to put that knowledge into practice – do your analysis of different investments and decide which ones are best for you. There is no right or wrong answer here; go with the investment opportunities you understand most thoroughly. Take good care to not invest money without first doing your research! Look at the stock market trends over several years (at least five) because what goes up must come down eventually.