Things to Look Out for in Potential Brokers or Brokerage Firms
1.Background Check
2.Registration and License
3.Qualification and Experience
4.Services Provided
5.Commission Rates
6.Transfer of Funds
7.Opening Balance and Maintenance Fees
8.Accessibility and Ease of Use (example: website, online portfolio, etc.)
9.Withdrawal Fees for Transactions
10.Inactivity Charges
Requirements for Brokerage Accounts

Now we come to what all is required for opening a brokerage account. The broker or firm you choose, will have to open a portfolio for you, when opening your first brokerage account. The list of information you need to give will look something like this:

Personal Information
•Name
•Address
•Phone number
•Type of account
•Driver’s license or other state-issued card (for ID Number)
•Social Security or IRS Tax ID Number
Additional Information
•Employment Details
•Annual Income
•Net worth
•Investment Objectives
•Form W-9: Payer’s Request For Taxpayer ID Number and Certification
•Letter Stating the Truth of Given Information and Signed by you