What documents and information do I need to open a brokerage account?

Opening a brokerage account is a lot like opening a bank account and usually takes about 15 minutes online. You'll need your Social Security number or ITIN, a government-issued ID, your date of birth and address, employment information, and bank details to fund the account via ACH transfer. Brokers are legally required to collect this under 'know your customer' rules. You'll also answer a few questions about your investing experience and goals. There's typically no minimum to open an account at major brokers, and most charge $0 commissions on U.S. stocks and ETFs. Once funded, transfers usually clear in a few business days. If you're a new immigrant, an ITIN generally works in place of an SSN at most brokerages, though policies vary by firm.