What documents are needed to open an account and exchange trading?
If you decide to engage in stock trading, then first of all you will need to open an account with one of the brokers.
Some novice traders have a question: “What documents are required to open an account?”
First of all, it should be said that there is an age limit; you can engage in trading from the age of 18, although you can bypass this rule if you wish.
Let's start with the fact that in most cases you do not need to provide any documents to register with a broker and open an account.
That is, at this stage no one checks the identity and age of the bidder, but after registration you will only be able to open transactions and, in some companies, top up your account.
Copy of passport – allows you to trade and top up your account; there are also brokers who, after providing a copy of your passport, allow you to withdraw profits through cryptocurrencies
Place of residence – a copy of the passport page with registration or documents confirming payment for the apartment. In most cases, all possibilities are fully revealed, the account is considered verified, and you can trade, deposit and withdraw funds.
It is at this stage that many people have problems, either the copy of the stamp in the passport is blurred, or a bank statement with a wet stamp is required, but an electronic one is not suitable.
Verification of a bank card - in order to use a bank card when depositing and withdrawing funds, you need to download a copy of it and make a symbolic replenishment of your trading account.
In most cases, the above is quite enough for full-fledged work, but recently, when working with Russian brokers, you will also be required to:
A copy of a university diploma confirming the presence of a higher economic education.
A copy of a diploma or certificate stating that you have completed a training course in stock trading and have sufficient knowledge to engage in trading.
A copy of your work record book – alternatively, an extract from your electronic work record book, confirming that you have worked for at least two years in an investment organization.
To work with an exchange company operating in the Russian legal framework, you must provide one of the above-mentioned documents.
As a result, we can conclude that if you want to try your hand at demo accounts with most companies, there is no need to provide any documents, and if you have problems confirming your place of residence, you should use cryptocurrencies.
In the case when you do not have an economic education or sufficient experience, an alternative option to Russian brokerage companies is trading through international brokers .