Td ameritrade options trading requirements for unemployment


When you go through the process of opening an account you will be asked whether or not you are employed and what kind of employment, part-time, full-time or self-employed. Your answer should be honest as it is used for tax purposes.

I have never heard of anyone being denied the opportunity to open an account by being unemployed or underemployed. After all, there are a number of people who make a living trading stocks, yet they are statistically considered unemployed.

Likewise, when they ask you how much you earn per year, be fair and honest. It is required by federal law to acquire this information. Lying on it could get you in a lot of trouble. Again, I have never heard of anyone being denied the opportunity to open an account based on income. My application was accepted that day. Opening a brokerage account usually takes less than 10 minutes. It can take longer if you intend to read all of the fine print, which I recommend, but I know most people will not do.

Many brokerages will require you to fund the account immediately or within a set number of days through personal check or wire transfer.

They will not accept Paypal or credit cards. It might seem old fashioned but this is part of federal law and helps regulate trading. There are a number of accounts that require no minimum balance to open. The one that I recommend is TD Ameritrade. I opened both accounts many years back with zero funds and added money to them from my checking account over time.

Almost all online brokerages will offer a discount on trades or free cash in your account if you open with a certain dollar amount.

Skip to content Opening a brokerage account is just about essential to investing in stocks. Apply to a Brokerage in your Home Country Most individuals will qualify to open a brokerage account so long as they are are a permanent resident or citizen of the country in which the brokerage is based.

There are Age Restrictions If you wish to open an individual account with a brokerage firm, according to current U. Most individuals will qualify to open a brokerage account so long as they are are a permanent resident or citizen of the country in which the brokerage is based. You will first have to find a brokerage in your country. Some of the big names like I mentioned above will allow certain circumstances, like a U.

Most are very strict about doing business exclusively in the United States. In fact, many of the international options are restricted to a very few countries. If you have a valid social security number in the United States, even if you are not a citizen you will likely be able to open an account.

If you wish to open an individual account with a brokerage firm, according to current U. Most other countries have similar laws. If you are under 18 you can wait or you can elect to open a custodian account which will allow someone of age to open the account with you, which can be passed onto you once you are of age.

Best to work with a parent, relative or guardian. Your account is much more likely to be approved. When you go through the process of opening an account you will be asked whether or not you are employed and what kind of employment, part-time, full-time or self-employed. Your answer should be honest as it is used for tax purposes.

I have never heard of anyone being denied the opportunity to open an account by being unemployed or underemployed. After all, there are a number of people who make a living trading stocks, yet they are statistically considered unemployed. Likewise, when they ask you how much you earn per year, be fair and honest. It is required by federal law to acquire this information. Lying on it could get you in a lot of trouble.

Again, I have never heard of anyone being denied the opportunity to open an account based on income. My application was accepted that day. Opening a brokerage account usually takes less than 10 minutes.