Get closer to your goals with a Schwab brokerage account.

Common questions

What is a brokerage account?

A brokerage account is an arrangement between you and a licensed brokerage firm. Once your account is set up, you can deposit funds and place investment orders through the brokerage account, and the transactions will be carried out on your behalf. You have the freedom to invest in whatever you choose—stocks, bonds, mutual funds, and more—as you own all the assets in your brokerage account.

What is the difference between a margin account and a cash account?

A margin account allows you to borrow against your eligible securities and can be helpful when you need to buy more securities, take advantage of timely market opportunities, or give yourself a source of overdraft protection. However, margin borrowing is not for everyone, and you should consider all risks and limitations before selecting this option. Learn everything you need to know about margin loans with The Schwab Guide to Margin.

A cash account only allows you to use the cash that you deposited to buy stocks, bonds, mutual funds, or other investments. This type of account presents less market risk as you are only investing assets that you already have, but can be limiting when timely opportunities or emergencies arise.

Can I trade options in my account?

You must be approved in order to trade options in a Schwab brokerage account. During the online application process, you can choose to add options trading and apply for one of four levels of approval based on your based on your objectives, experience, and financial position. 

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled Characteristics and Risks of Standardized Options. Supporting documentation for any claims or statistical information is available upon request.

Account Opening and Funding Questions

Account Opening and Funding Questions

What if I have accounts elsewhere?

Consolidating all your accounts at Schwab may help you better manage your finances. We can help you every step of the way in bringing your assets over, in a tax-efficient manner. Click here to learn more.

What do I need to open a brokerage account?

1. Social security number(s)
2. Driver's license
3. Employer's name and address (if applicable)
4. Statement information for any assets or cash you'd like to transfer

What is the minimum deposit to open a brokerage account?

There is no minimum investment needs to open a brokerage account.

How do I open a brokerage account?

The easiest way to open Schwab brokerage account is online. You can also get help opening an account by calling us at 866-232-9890 or visiting one of 300 local branches.

The online account application process only takes about 10 minutes. Key steps include:

• Choosing the type of brokerage account (individual or joint)
• Providing your personal, employment, and financial information
• Selecting specific account features 
• Creating login credentials and providing contact information for your account
• Verifying your identity 
• Indicating how you'll fund the account

How do I fund my account?

There are multiple ways to fund your new Schwab account:

• Electronic funds transfer (EFT) with Schwab MoneyLink^® to transfer funds or assets from an external account. You may also continually fund your account by setting up auto deposit to transfer funds from your checking account.
• Wire transfer request from another financial institution.
• Check deposit by mail or in person at your local Schwab branch.

Full funding instructions and access to online fund transfer tools will be provided after your account is opened.