The truth of the matter is that opening a stock brokerage account today has become so easy and much more efficient that everything can be done without really having to leave the computer. There are a just a few papers/documents you will need.

Depending on the broker you are signing up for will determine when you need to supply certain information. Some brokers allow you to simply create a user name and password and see what all services and tools are available, however, once you are ready to add money, they will require more personal information. On the other hand, there are brokers that will require all the information upfront.

The key to remember is that signing up for a online stock brokerage is not a permanent event. Just like with any bank, you can easily take out your money, close your account, and move it somewhere else. In fact, most stock brokerages will cover most if not 100% of any transfer fees that occur when transferring to their brokerage.

*Side-note: Brokerages need your business, so make sure to let them know about your concerns or problems before closing your account. You may be able to get some sweet deals out of it.

That being said, here is what you will need to completely sign up for an online stock brokerage:

1. Copy of driver’s license and social security card. Some brokers will be satisfied by just a copy of your driver’s license however others might also require a copy of your social security card. Make sure to already have a copy of them ready, as you will need to fax it to the brokerage.

2. Bank account and routing number. Obviously we need to fund our account in order to actually start trading. While you could always perform some sort of wire transfer, most discount stock brokerages allow you to electronically fund your account directly from your bank account. This will drastically increase the setup time.

3. Knowledge of previous credit history. Because trading does have tax implications, you are required to provide your social security number. In order to make sure you are who you say you are, some brokerages may try to ask you questions about your previous credit history. For some brokers, answering correctly may allow you to not need the items listed under the first bullet; otherwise, if the brokerage is still unclear than they will require you to send them those documents.

As you can see there is really not much that you need to open an online stock brokerage account; however, it is important that you stay updated on the process, so that you can get your account up and running in no time at all.