Opening Your First Brokerage Account

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What You’ll Learn

• Exactly what information you need before starting
• Step-by-step account opening process for major brokerages
• Common roadblocks and how to handle them
• Account types explained (Individual, IRA, Joint)
• How to verify your identity without issues
• What happens after your account is approved
• How to start with Ape AI paper trading while you wait

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Why This Matters

• 📝 You’ve decided to start investing (great choice!)
• 🏦 You chose a brokerage but don’t know what’s next
• 😰 You’re nervous about making mistakes
• ⏰ You want to get started TODAY
• 🎯 You need a clear, step-by-step guide

• ✅ No minimum deposit required at most brokerages
• ✅ Completely free to open (no fees)
• ✅ Can be done entirely online
• ✅ Approved within 1-2 business days (usually same day)
• ✅ Can start paper trading on Ape AI immediately while you wait

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Before You Start: What You’ll Need

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Required Information (Everyone Needs This)

• Full legal name (as it appears on your ID)
• Date of birth
• Social Security Number (SSN) or Tax ID
• Physical residential address (no P.O. boxes)
• Email address
• Phone number

• Employment status (employed, unemployed, student, retired)
• Employer name (if employed)
• Occupation type (e.g., “Software Engineer”, “Teacher”)

• Annual income (estimate is fine)
• Net worth (estimate is fine - includes all assets minus debts)
• Liquid net worth (cash + investments you can quickly access)

• Bank name
• Bank account number
• Bank routing number

• Driver’s license OR passport OR state ID
• Take a clear photo of your ID ahead of time (mobile apps need this)

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Why They Ask for This

• IRS requires it (you’ll get tax forms like 1099 for investment gains)
• Prevents fraud and identity theft
• Required by law for financial accounts

• Regulatory requirement (FINRA rules)
• Helps them understand your risk tolerance
• Determines what account features you can access (like options trading)
• Note: They don’t verify this - reasonable estimates are fine

• Yes. Brokerages use bank-level encryption
• SIPC insurance protects up to $500,000 of securities
• Regulated by SEC and FINRA
• Major brokerages have been doing this for decades

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Choosing Your Account Type

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The Three Main Account Types

• Standard account in your name only
• You own everything in the account
• No restrictions on contributions or withdrawals

• First-time investors
• People who want flexibility
• Anyone who might need the money before retirement

• Pay taxes on dividends and capital gains each year
• No contribution limits
• Can withdraw anytime without penalties

• ✅ Complete flexibility
• ✅ No withdrawal penalties
• ✅ No contribution limits
• ✅ Can access money anytime

• ❌ Pay taxes on gains every year
• ❌ No tax advantages like retirement accounts

• Retirement account with tax advantages
• Contributions may be tax-deductible
• Money grows tax-free until retirement

• Long-term retirement savings
• People who want to reduce current taxes
• Anyone who won’t need the money until age 59½

• Contributions may be tax-deductible (reduces current taxes)
• Investments grow tax-free
• Pay taxes when you withdraw in retirement

• $7,000/year if under age 50
• $8,000/year if age 50+

• ✅ Tax deduction on contributions
• ✅ Tax-free growth for decades
• ✅ Forces disciplined retirement saving

• ❌ Can’t withdraw before 59½ without 10% penalty
• ❌ Required Minimum Distributions (RMDs) at age 73
• ❌ Annual contribution limits

• Retirement account funded with after-tax money
• Grows completely tax-free
• Withdrawals in retirement are tax-free

• Young people who expect higher income later
• Anyone who wants tax-free retirement income
• People in lower tax brackets now

• No tax deduction on contributions
• Investments grow tax-free forever
• Withdrawals in retirement are 100% tax-free

• $7,000/year if under age 50
• $8,000/year if age 50+
• Income limits apply (phases out at $161,000 single /$240,000 married)

• ✅ Tax-free growth forever
• ✅ Tax-free withdrawals in retirement
• ✅ No Required Minimum Distributions
• ✅ Can withdraw contributions anytime (not gains)

• ❌ No tax deduction on contributions
• ❌ Income limits for eligibility
• ❌ Can’t withdraw gains before 59½ without penalty

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Which Account Should You Choose?

• Maximum flexibility
• No withdrawal penalties if plans change
• Learn investing without restrictions
• Can always open IRA accounts later

• ✅ This is your first investment account
• ✅ You might need the money before retirement
• ✅ You want to learn without restrictions
• ✅ You’re saving for non-retirement goals (house, car, etc.)

• ✅ You’re focused on retirement (10+ years away)
• ✅ You want to reduce current taxes
• ✅ You’re in a high tax bracket now
• ✅ You won’t need the money until 59½

• ✅ You’re young (under 40) or in lower tax bracket
• ✅ You expect higher income in the future
• ✅ You want tax-free retirement income
• ✅ Your income is under the limits

• YES! You can have all three types
• Many investors have both brokerage + IRA accounts
• Start with one, add others later

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Step-by-Step: Opening Your Account

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General Process (All Brokerages Follow Similar Steps)

• Go to broker’s website or download mobile app
• Click “Open Account” or “Get Started”
• Enter email and create password

• Select Individual, Traditional IRA, or Roth IRA
• Can add joint account if opening with spouse

• Enter name, address, date of birth, SSN
• Provide phone and email
• Citizenship/residency status

• Employment status and employer name
• Annual income (estimate is fine)
• Net worth and liquid net worth (estimate is fine)
• Investment experience (be honest - “None” is perfectly fine)

• Upload photo of driver’s license or passport
• Some brokers use instant verification (pulls from credit bureaus)
• May need to take selfie for face matching

• Review all information for accuracy
• Read and agree to terms and conditions
• Submit application

• Most accounts approved same day
• You’ll receive email when approved
• Can immediately link bank account and fund

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Brokerage-Specific Guides

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Opening Account at Fidelity

1. Go to Fidelity.com
   • Click “Open an Account” (top right)
2. Choose Account Type
   • Select “Individual” or “IRA”
   • Click “Continue”
3. Personal Information Screen
   • Enter name, DOB, SSN
   • Enter physical address (no P.O. boxes)
   • Provide email and phone
   • Tip: Use auto-fill if available to save time
4. Employment Information
   • Select employment status
   • Enter employer name and occupation
   • Note: If unemployed/retired, select that option
5. Financial Profile
   • Annual income: Enter your yearly income (before taxes)
   • Net worth: Estimate all assets (home, car, savings) minus debts
   • Liquid net worth: Cash + investments you can access quickly
   • Tip: Rough estimates are fine - they don’t verify
6. Investment Profile
   • Investment experience: Be honest - “None” is fine
   • Risk tolerance: “Moderate” is safe choice for beginners
   • Investment objective: “Long-term growth” for most people
   • Note: You can change this later
7. Identity Verification
   • Upload photo of driver’s license or passport
   • Make sure photo is clear and all corners visible
   • Tip: Take photo in good lighting, avoid glare
8. Link Bank Account (Optional)
   • You can do this now or later
   • Enter bank routing number and account number
   • Where to find: Check bottom of paper check
   • Fidelity will make 2 small deposits to verify (takes 1-2 days)
9. Review and Submit
   • Double-check SSN and address (most common errors)
   • Agree to terms and conditions
   • Click “Submit”
10. Approval
    • Usually instant or within 24 hours
    • You’ll receive email confirmation
    • Can log in and explore platform immediately

• Complete account funding (we’ll cover in next workflow)
• Set up 2-factor authentication for security
• Download Fidelity mobile app
• Explore research tools

• ❌ Address mismatch: Make sure address matches your ID exactly
• ❌ Blurry ID photo: Retake in better lighting
• ❌ SSN typo: Triple-check before submitting

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Opening Account at Charles Schwab

1. Go to Schwab.com
   • Click “Open an Account”
   • Or download Schwab mobile app
2. Account Selection
   • Choose “Individual Brokerage” or “IRA”
   • Click “Apply Now”
3. Personal Details
   • Full legal name
   • Social Security Number
   • Date of birth
   • Email and phone
   • Physical address
4. Citizenship & Residency
   • U.S. citizen: Yes (most common)
   • If dual citizenship, you’ll need to provide additional info
5. Employment Information
   • Current employment status
   • Employer name and occupation
   • Note: Students can select “Student” for occupation
6. Financial Information
   • Annual income range (select bracket)
   • Total net worth range (select bracket)
   • Liquid net worth range (select bracket)
   • Tip: Schwab uses ranges, so less pressure to be exact
7. Investment Experience
   • Stocks: None / Limited / Good / Extensive
   • Options: None / Limited / Good / Extensive (choose “None” if new)
   • Note: Be honest - doesn’t affect account approval
8. Trusted Contact (Optional but Recommended)
   • Someone Schwab can contact if they can’t reach you
   • Not an authorized user - just emergency contact
   • Tip: Use parent, sibling, or trusted friend
9. Identity Verification
   • Upload government-issued ID
   • Schwab uses instant verification system
   • May ask security questions pulled from credit report
10. E-Delivery Preferences
    • Paperless statements (recommended - saves trees!)
    • Email notifications for important account activity
11. Review and Sign
    • Review all information carefully
    • Electronic signature agreement
    • Submit application

• Link bank account for funding
• Set up Schwab mobile app
• Enable fingerprint/face ID for security
• Explore StreetSmart Edge platform (advanced traders)

• Access to Schwab Bank (high-yield checking)
• Free ATM fee reimbursements worldwide
• 24/7 customer support
• Free in-person consultations at local branches

• ❌ Security questions: If you can’t answer, call Schwab support (they’re very helpful)
• ❌ Employment verification: Be specific with employer name
• ❌ Trusted contact confusion: They can’t make trades - just emergency contact

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Opening Account at Robinhood

1. Download Robinhood App
   • Available on iOS and Android
   • Or go to Robinhood.com on desktop
2. Sign Up
   • Enter phone number or email
   • Create password
   • Verify email or phone with code
3. Personal Information
   • Legal first and last name
   • Date of birth
   • Social Security Number
   • Physical address (no P.O. boxes)
4. Investment Profile
   • Why are you investing? (Select goal: Growth, Income, etc.)
   • Investment experience: None / Some / Good / Extensive
   • Note: Most beginners select “None” - totally fine
5. Employment
   • Employment status
   • Employer name (if employed)
   • Industry type
6. Financial Information
   • Annual income (use slider or enter manually)
   • Net worth (use slider or enter manually)
   • Source of funds: “Salary”, “Savings”, etc.
   • Tip: Robinhood makes this very visual with sliders
7. Take Selfie
   • Robinhood will ask you to take a selfie
   • Ensure good lighting and face clearly visible
   • This is for identity verification
8. Upload ID
   • Photo of driver’s license or passport
   • Front and back of ID
   • Make sure all text is readable
9. Disclosures and Agreements
   • Scroll through and read (or at least skim)
   • Agree to terms and conditions
   • Agree to margin disclosure (even if not using margin)
10. Link Bank Account
    • Robinhood partners with Plaid for instant bank linking
    • Select your bank from the list
    • Log in with your bank credentials
    • Connection is secure and encrypted
    • Tip: This is faster than manual entry
11. Wait for Approval
    • Usually instant (within minutes)
    • Sometimes takes up to 24 hours
    • You’ll get push notification when approved

• Fastest, simplest approval process
• Instant bank linking with Plaid
• Beautiful, intuitive mobile app
• Can buy fractional shares immediately

• Enable 2-factor authentication (Settings > Security)
• Set up Face ID or fingerprint
• Explore educational content in app
• Set up recurring investments (optional)

• ❌ Bank not supported by Plaid: Use manual bank linking (takes 1-2 days longer)
• ❌ Selfie not working: Ensure bright lighting, no sunglasses, face clearly visible
• ❌ ID photo rejected: Retake with all four corners of ID visible

• Available with 1% match on contributions (unique feature!)
• Same process as brokerage account
• Choose “Retirement” when selecting account type

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Opening Account at Interactive Brokers (IBKR)

1. Go to IBKR.com
   • Click “Open Account”
   • Choose Individual account
2. Select Account Type
   • Cash account (recommended for beginners)
   • Margin account (for advanced traders)
   • Tip: Start with cash account to avoid complexity
3. Personal Details
   • Name, DOB, SSN
   • Phone, email, address
   • Citizenship and tax residency
4. Identity Documents
   • Upload government-issued ID
   • IBKR requires front AND back of ID
   • Proof of address (bank statement or utility bill from last 3 months)
5. Employment & Financial
   • Employment details
   • Income and net worth
   • Note: IBKR asks for more detail than other brokers
6. Investment Knowledge Assessment
   • Stocks: Knowledge level and years of experience
   • Options: Knowledge level and years of experience
   • Futures: Knowledge level and years of experience
   • Important: Be honest - affects what products you can trade
7. Regulatory Information
   • Are you affiliated with a stock exchange? (Usually “No”)
   • Are you a director of a public company? (Usually “No”)
   • Control person of a public company? (Usually “No”)
8. Trading Permissions
   • Select what you want to trade: Stocks, ETFs, Options, Forex, etc.
   • Tip: Start with just Stocks and ETFs for simplicity
9. Market Data Subscriptions
   • Free real-time quotes (basic)
   • Paid professional data (for active traders)
   • Tip: Free quotes are fine for beginners
10. Security Setup
    • Strong password creation
    • 2-factor authentication (required by IBKR)
    • Security questions
11. Review and Sign
    • Review lengthy agreements (IBKR has most disclosures)
    • Electronic signature
    • Submit for review

• Download TWS (Trader Workstation) or use mobile app
• Complete W-9 form (tax form)
• Link bank account
• Fund account to activate trading

• More complex than Robinhood or Fidelity
• Best for investors who want international stocks
• Lower fees for active traders
• Requires minimum $0 to open, but$2,000 to access margin

• ❌ Documentation: IBKR requires more paperwork than other brokers
• ❌ Proof of address: Must be dated within last 3 months
• ❌ Complexity: Interface is intimidating for beginners

• Investors who want to buy international stocks
• Active traders who make 10+ trades per month
• People who want lowest fees long-term

• Complete beginners making first investment
• Investors who value simplicity over features
• People who want friendly customer service

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Opening Account at E*TRADE

1. Go to ETrade.com
   • Click “Open Account”
   • Select account type (Individual or IRA)
2. Create Login
   • Email address
   • Create password
   • Accept terms
3. Personal Information
   • Full legal name
   • Social Security Number
   • Date of birth
   • Phone number
   • Physical mailing address
4. Citizenship & Tax Status
   • U.S. citizen (most common)
   • Tax residency
   • Note: E*TRADE asks detailed tax questions
5. Employment Details
   • Employment status
   • Employer name and address
   • Occupation and position
   • Tip: Be specific - “Software Engineer at Google” not just “Engineer”
6. Financial Profile
   • Annual income
   • Net worth
   • Liquid net worth
   • Note: E*TRADE uses specific dollar amounts, not ranges
7. Investment Experience
   • Years of investment experience
   • Types of investments (stocks, bonds, options, etc.)
   • Number of trades per year
   • Tip: Honesty won’t hurt you - “0 trades” is fine
8. Investment Objectives
   • Select from: Growth, Income, Speculation, Preservation
   • Risk tolerance: Conservative, Moderate, Aggressive
   • Time horizon: Short (0-3 years), Medium (3-10 years), Long (10+ years)
   • Recommendation: Most beginners choose “Growth, Moderate, Long”
9. Trusted Contact (Optional)
   • Name and phone of someone to contact in emergency
   • Not an authorized user
   • Tip: Parents or siblings work well
10. Identity Verification
    • Upload photo of driver’s license or passport
    • E*TRADE may use instant verification (pulls from credit bureaus)
    • May need to answer security questions
11. Account Features
    • Margin account (optional - not for beginners)
    • Options trading (optional - requires experience)
    • Tip: Skip these if you’re brand new
12. Statements & Communications
    • E-delivery for statements (recommended)
    • Email or text notifications
    • Marketing preferences
13. Review and Submit
    • Double-check all info
    • Electronically sign agreements
    • Submit application

• Download E*TRADE mobile app
• Link bank for funding
• Explore Power E*TRADE platform (advanced)
• Access to retirement planning tools

• Strong retirement account options
• Good educational resources
• Access to E*TRADE Financial consultants
• Excellent mobile app

• ❌ Detailed employment questions: E*TRADE asks for employer address too
• ❌ Net worth specificity: Requires exact amounts, not ranges
• ❌ Identity verification: May require phone call if instant verification fails

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Opening Account at Webull

1. Download Webull App
   • Available iOS and Android
   • Or go to Webull.com
2. Sign Up
   • Enter phone number or email
   • Create password
   • Verify with code sent to phone/email
3. Personal Information
   • Legal name (first, middle, last)
   • Date of birth
   • Social Security Number
   • Residential address
4. Citizenship & Identity
   • U.S. citizenship status
   • Country of birth
   • Note: Webull supports non-U.S. citizens with valid visa
5. Upload Identification
   • Photo of driver’s license, passport, or state ID
   • Webull uses AI to scan and verify
   • Make sure photo is clear and complete
6. Take Selfie
   • Face verification to match ID photo
   • Ensure good lighting
   • Remove glasses or hat
7. Employment Information
   • Employment status
   • Employer name
   • Occupation
   • Industry type
8. Financial Details
   • Annual income (select range)
   • Net worth (select range)
   • Liquid net worth (select range)
9. Investment Profile
   • Investment experience level
   • Investment objectives
   • Risk tolerance
   • Tip: Webull makes this quick with dropdowns
10. Regulatory Disclosures
    • Affiliated with broker-dealer? (Usually “No”)
    • Control person of public company? (Usually “No”)
    • Politically exposed person? (Usually “No”)
11. Account Features
    • Cash account or Margin account
    • Tip: Choose cash account if you’re new
12. Link Bank Account
    • Webull uses Plaid for instant linking (like Robinhood)
    • Select bank and log in
    • Or manually enter routing and account numbers
13. Agreements & Disclosures
    • Customer agreement
    • Privacy policy
    • Market data agreement
    • Click “I Agree” and submit

• Enable 2-factor authentication
• Explore paper trading feature (practice with fake money)
• Set up price alerts
• Join Webull community (social features)

• Built-in paper trading (no need for separate app)
• Extended hours trading (4am-8pm ET)
• Level 2 market data (usually $10/month, free on Webull)
• Community features (see what others are trading)

• Often offers free stocks for opening account ($3-$300 value)
• Deposit bonuses for funding account
• Tip: Check current promotions before opening

• ❌ Selfie verification: Ensure face is centered and well-lit
• ❌ ID upload: All four corners must be visible
• ❌ Bank linking: If Plaid doesn’t work, use manual entry (slower)

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Common Roadblocks and Solutions

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Problem: “My ID Photo Keeps Getting Rejected”

• Photo is blurry or out of focus
• Corners of ID are cut off
• Glare from lighting
• ID is expired
• Photo taken at angle instead of straight-on

• ✅ Use good lighting (natural light works best)
• ✅ Place ID on dark, solid surface
• ✅ Ensure all four corners are visible in photo
• ✅ Take photo straight-on, not at angle
• ✅ Check that ID is not expired
• ✅ Use phone camera, not webcam (better quality)
• ✅ Don’t use flash (causes glare)

• Try different device (phone vs tablet vs computer)
• Call broker’s customer service - they can verify manually
• Try desktop version if mobile app isn’t working

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Problem: “Identity Verification Failed”

• Address on application doesn’t match credit bureau records
• Recent move (address not updated everywhere)
• Credit freeze on your file
• Name spelling discrepancy

• ✅ Use EXACT address that matches your driver’s license
• ✅ Check if you have credit freeze - temporarily lift it
• ✅ Ensure name spelling matches SSN records exactly
• ✅ Check for Jr., Sr., II, III suffixes - must match exactly
• ✅ Recent address change? Use old address that’s still in credit bureaus

• Most brokers will call you to verify identity manually
• May ask security questions about your credit history
• May accept utility bill or bank statement as proof of address

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Problem: “Application is Stuck in ‘Under Review’ for Days”

• Additional verification required
• High volume of applications
• Incomplete information
• Suspected fraud flags (not your fault - algorithms are sensitive)

• ✅ Check email and spam folder for requests from broker
• ✅ Call customer service directly
• ✅ Log in to check application status
• ✅ Have ID ready in case they need to verify over phone

• This is normal for 5-10% of applications
• Doesn’t mean you’re rejected
• Usually resolved within 24-48 hours

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Problem: “I Don’t Have a Driver’s License”

• ✅ Use passport (all brokers accept this)
• ✅ Use state-issued ID card
• ✅ Some brokers accept military ID
• ✅ Some brokers accept permanent resident card (green card)

• Apply for state-issued ID card at your local DMV
• Takes 1-2 weeks but inexpensive ($10-30)

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Problem: “I’m Self-Employed and Don’t Have Employer Name”

• ✅ Select “Self-Employed” for employment status
• ✅ Enter your business name as employer
• ✅ If no business name, enter “Self-Employed” or “Independent Contractor”
• ✅ For occupation, describe what you do (e.g., “Freelance Designer”)

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Problem: “I Don’t Know My Net Worth”

• Bank accounts: $___
• Investment accounts: $___
• Retirement accounts: $___
• Car value: $___
• Home value (if you own): $___
• Other valuables: $\_\_\_ **Total Assets:$___**

• Credit card debt: $___
• Student loans: $___
• Car loan: $___
• Mortgage: $___
• Other debts: $\_\_\_ **Total Liabilities:$___**

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Problem: “I’m Under 18”

• You cannot open a brokerage account if you’re under 18
• Federal law requires you to be 18+ (age of majority)

• Parent or guardian can open custodial account (UGMA/UTMA)
• Money legally belongs to you, but parent manages until you’re 18
• Parent opens account in their name “for benefit of” you

• Use Ape AI paper trading (no age requirement!)
• Practice with $100,000 virtual money
• Learn investing risk-free
• When you turn 18, open real account with experience

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Problem: “I’m Not a U.S. Citizen”

• ✅ Most major brokers allow non-citizens with SSN or ITIN
• ✅ You’ll need passport and visa documentation
• ✅ Tax forms will be different (W-8BEN instead of W-9)

• ✅ Interactive Brokers accepts international clients
• ✅ TD Ameritrade International
• ✅ Webull (limited countries)
• ❌ Robinhood, Fidelity, Schwab are U.S. only

• 30% withholding tax on dividends (unless tax treaty reduces it)
• Capital gains generally not taxed by U.S. (but may be taxed in your country)
• Consult tax professional for your specific situation

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What Happens After You’re Approved?

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Immediate Next Steps

• Usually within minutes to 24 hours
• Contains account number and next steps
• Login credentials or link to finish setup

• Use email/password you created
• Set up 2-factor authentication (highly recommended)
• Set up biometric login (fingerprint/face ID)

• You have the account but $0 balance
• Need to link bank account and fund it
• We’ll cover funding in the next workflow

• Get familiar with layout
• Find where to search for stocks
• Locate your portfolio section
• Find research and educational resources

• Enable 2-factor authentication (required by some brokers)
• Set up email/text alerts for account activity
• Review privacy and security settings

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What You Can Do While Waiting

1. Go to askape.com
2. Sign up for free account
3. Ask Sage: “I just opened my first brokerage account. Help me practice with paper trading.”
4. Make virtual trades risk-free
5. Learn the platform while real account gets approved

• Zero risk (fake money)
• Practice order types
• Test strategies
• Build confidence
• Make mistakes without consequences

• Complete this workflow series
• Ask Sage investing questions
• Learn about different assets

• Most brokers have learning centers
• Fidelity Learning Center
• Schwab Education
• E*TRADE Knowledge
• Webull Learn

• How stock market works
• Understanding market orders vs limit orders
• Reading stock charts
• Fundamental analysis basics
• Risk management principles

• How much should I invest first? ($100?$500? $1,000?)
• What should I buy first? (Index ETF like VOO? Individual stock?)
• What’s my investment timeline? (Long-term? Short-term?)
• What’s my risk tolerance? (Conservative? Aggressive?)

I just opened a Fidelity account with $1,000 to invest.
I'm 25 years old and want to retire at 65.
What should be my first investment?

• Automatic recurring deposits from bank
• Automatic investments on schedule
• Dollar-cost averaging into index funds

• Transfer $500 from bank every month
• Automatically invest in VTI (total market ETF)
• “Set it and forget it” wealth building

• Fidelity: Automatic Investment Plan
• Schwab: Schwab Automatic Investment Plan
• Robinhood: Recurring Investments
• E*TRADE: Automatic Investment Plan

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Starting with Ape AI Paper Trading (While You Wait)

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Why Paper Trade First?

• ✅ Zero risk - fake money
• ✅ Learn order types without fear
• ✅ Test investment ideas safely
• ✅ Build confidence before using real money
• ✅ Make mistakes and learn from them
• ✅ Understand how gains/losses feel emotionally

• Paper trading is different from real money (emotions are different)
• But it’s the BEST way to learn mechanics
• Professional traders paper trade new strategies first

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How to Start Paper Trading on Ape AI

1. Go to askape.com
2. Click “Sign Up” or “Get Started”
3. Create account with email
4. Verify email address

1. Open Ape AI app (iOS) or web dashboard
2. Navigate to paper trading section
3. Activate virtual account with $100,000
4. Start trading immediately

I want to make my first paper trade. What should I buy
and how do I place an order?

• Choosing a beginner-friendly stock or ETF
• Deciding how much to invest
• Placing the order step-by-step
• Understanding what happened

1. Buy a popular index ETF (VOO or VTI)
   • Learn how to buy fractional shares
   • Understand expense ratios
   • See how diversification works
2. Buy an individual stock
   • Pick a company you know (Apple, Disney, etc.)
   • Research it with Sage
   • Place a limit order
3. Practice selling
   • Sell a position at profit
   • Sell a position at loss
   • Understand how capital gains work
4. Try different order types
   • Market order (executes immediately)
   • Limit order (executes at your price)
   • Stop loss (protects against losses)
5. Build a diversified portfolio
   • 60% stocks (VOO), 40% bonds (BND)
   • Or 100% diversified ETF (VT)
   • Track performance over time

• Check your paper portfolio daily
• See how it fluctuates
• Learn to handle emotions when it drops
• Understand that volatility is normal

• After 30 days of paper trading, consider going live
• Start small with real money ($100-500)
• Keep paper trading account for testing new strategies

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Security Best Practices

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Protecting Your Account

• At least 12 characters
• Mix of uppercase, lowercase, numbers, symbols
• Don’t reuse passwords from other sites
• Use password manager (1Password, LastPass)

• Required by some brokers (IBKR)
• Highly recommended for all accounts
• Use authenticator app (Google Authenticator, Authy)
• SMS backup is okay but less secure

• Brokers will NEVER ask for your password
• No legitimate company will call asking for login
• Beware of phishing emails

• Check that URL starts with https://
• Look for official domain (fidelity.com, schwab.com)
• Beware of typosquatting (fidelty.com, schwabb.com)

• Face ID or fingerprint
• Faster and more secure than typing password
• Available on all major broker apps

• Email/text for:
  • Login from new device
  • Password changes
  • Bank account changes
  • Large withdrawals
  • Trade confirmations

• Email is your brokerage password reset method
• Use 2FA on email account too
• Strong password on email account

• Avoid logging in to brokerage on public WiFi
• Use VPN if you must
• Or use mobile data instead

​

Red Flags: Potential Scams

1. Someone calls claiming to be from your broker
   • They ask for your password
   • They ask for 2FA code
   • They pressure you to move money
   • Action: Hang up and call broker’s official number
2. Email about “urgent account action required”
   • Claims your account is locked
   • Asks you to click link and log in
   • Action: Go directly to broker website, don’t click email link
3. “Guaranteed” investment opportunities
   • Someone promises 20%+ returns with no risk
   • Pressure to invest immediately
   • Action: It’s a scam. There are no guarantees in investing.
4. Request to move money to “safe account”
   • Claims your account is compromised
   • Asks you to transfer to different account
   • Action: Scam. Call your broker directly.

• Your broker will NEVER call asking for passwords or 2FA codes
• Your broker will NEVER pressure you to move money urgently
• Always verify by calling official number on broker’s website

​

Success Checklist

• ✅ I have my SSN, ID, and personal information ready
• ✅ I know which brokerage I want to use
• ✅ I’ve decided on account type (Individual, IRA, Roth IRA)
• ✅ I have 20-30 minutes to complete application
• ✅ I’m on a secure internet connection (not public WiFi)

• ✅ I entered my legal name exactly as it appears on ID
• ✅ I entered my SSN carefully and double-checked it
• ✅ My address matches my driver’s license
• ✅ I uploaded clear photo of my ID (all corners visible)
• ✅ I provided accurate employment and financial information
• ✅ I reviewed everything before submitting

• ✅ I received approval email with account number
• ✅ I logged in successfully
• ✅ I enabled 2-factor authentication for security
• ✅ I set up biometric login (fingerprint/face ID)
• ✅ I’m ready to fund my account (next workflow!)

• ✅ I started paper trading on Ape AI
• ✅ I explored the broker’s platform and tools
• ✅ I read educational content about investing
• ✅ I planned my first real investment

​

What’s Next?

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Immediate Next Steps

1. ✅ Open your brokerage account (Done!)
2. ✅ Get approved (Usually same day!)
3. ✅ Set up security (2FA, biometric login)

• Funding Your Account: How Much to Start? →
• Understanding Order Types: Market vs Limit →
• Paper Trading: Practice Before Real Money →

• Make your first real investment
• Build confidence with paper trading
• Learn investment basics
• Track your progress

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Ask Sage for Help

I just opened a [Brokerage Name] account. What should I do
next? I'm a complete beginner with $[amount] to invest.

• Guide you through next steps
• Help you plan first investment
• Explain anything confusing
• Provide personalized recommendations
• Answer all your questions patiently

​

Quick Troubleshooting

• Check email (and spam folder) for requests from broker
• Call customer service - they can check status
• Have account number and ID ready

• Call broker customer service for manual verification
• May need to provide additional documentation

• Brokers will email reason for denial
• Usually fixable (wrong address, credit freeze, etc.)
• Call customer service to resolve

• Ask Sage in Ape AI - personalized help
• Call broker’s customer service - they want to help you

​

The Bottom Line

• ✅ Easier than you think (15-30 minutes)
• ✅ Completely free at major brokers
• ✅ No minimum deposit required (at most brokers)
• ✅ Approved quickly (usually same day)
• ✅ Secure and regulated (SIPC insured up to $500k)

• ❌ Rich (can start with $1)
• ❌ Expert investor (learn as you go)
• ❌ Finance professional (brokers designed for beginners)
• ❌ Perfect (you can’t make mistakes in application)