Opening a no-minimum stock trading account merely requires a little bit of research on your part. Several brokerages allow you to open a stock trading account with as little as $100. Be aware, however, that just because you can open a trading account with only $100 does not mean that you should. Being under-capitalized in your trading business reduces your choices of which stocks to trade. Additionally, having a small trading account magnifies any losses--every a tiny loss is a significant percentage of a tiny account.
Search for and choose the no-minimum account that has the fewest recurring fees and that has the lowest per-trade fee. Be certain to check for any recurring fees, as these can eat up a small account rather quickly.
Fill out the online form to open an account. Typically, you will be asked for your name, address, telephone number and your Social Security number. You also may be asked to provide information regarding your assets and liabilities and your income and expenses. These questions are necessary to determine whether or not you have sufficient funds or experience to trade stocks or options.
Fund your account. Accounts can generally be funded by check or money order, by bank-to-bank wire transfer or even by credit card.
Begin trading. Follow directions for making your own online trades or contact your broker to make trades for you.
Tips & Warnings
- Trading stocks or options involves risk. Do not trade stocks if you cannot afford losses. It is possible to lose your entire trading account, and if you trade on margin it is possible to lose more than your entire trading account. Past performance is no guarantee of future results.