How to Pick a Broker (and Open an Account)

What “opening a broker account” actually involves

A broker is a regulated platform that lets you hold cash and investments in accounts under your name. Opening an account means completing KYC (Know Your Customer) so the broker can verify identity and follow regulations.

• You enter personal details, tax residency, and sometimes investing experience.
• You upload ID (passport/national ID) and proof of address.
• For US assets as a non-US resident, you usually submit a W-8BEN electronically.
• Once approved, you fund the account and place your first investment.

The paperwork is usually straightforward. The real win is picking a broker that fits your situation so you don’t keep switching.

Step 2: Check eligibility and basic market access

Before caring about features, confirm the broker accepts clients from your country and offers the markets you need.

• Country list: verify on the broker’s official supported-countries page.
• Asset coverage: US stocks, ETFs, global markets, bonds—only what you’ll actually use.
• Regulators: know who supervises your account and entity (this affects protections).
• Non-US restrictions: “US apps” may have separate international products with different fees/features.

If they can’t onboard you or can’t give you the products you need (often UCITS vs US ETFs), move on immediately.

Step 4: Match platform tools to your style

You want enough functionality without a cockpit you never learn.

• Long-term + automation: recurring deposits, recurring buys, pies/model portfolios.
• Active trading: real-time quotes, solid order types, fast execution UX, options (if you actually use them).
• Research: basic fundamentals are enough for most investors; avoid paying for fluff.
• Mobile vs desktop: choose based on how you truly invest day-to-day.
• Rules: conditional orders / rebalancing tools reduce manual work and mistakes.

Match the broker to your actual behavior, not your fantasy behavior.

Step 5: Safety, support, and everyday friction

You can’t control markets, but you can control who holds your assets and how annoying the platform is to use.

• Regulation + segregation: client assets should be held separately from broker funds where applicable.
• Protection schemes: understand what applies to your account entity (varies by country).
• Support: test contact channels once. If something breaks, you want a human.
• Funding/withdrawals: simple bank transfers, clear timelines, no “surprise” fees.
• Interface friction: if basic orders feel confusing, it will be worse in a crash.

Step 7: Prepare documents before you apply

Having everything ready turns signup from a hassle into a checklist.

• Valid passport or government ID (clear photo/scan).
• Proof of address (often < 3 months old).
• Your tax identification number(s).
• Basic employment/income details.
• For US securities: electronic W-8BEN.

Fill forms carefully once. Most delays come from mismatches, unclear images, or missing fields.

After approval: funding and your first investment

Before you hit “buy”, decide these basics so you don’t improvise inside the app.

• Funding method: bank transfer is usually the cleanest.
• FX conversion: understand spreads/fees if you move from EUR to USD.
• First plan: decide your ETFs + % allocation before browsing random tickers.
• Automation: set recurring contributions so you don’t rely on willpower.

Useful next: Index funds 101 and How to start investing in the US stock market.

Quick checklist before you hit “Apply”

• I know my style (automated investing vs active trading).
• I confirmed the broker accepts my country and supports the products I need.
• I understand fees, especially FX and any platform charges.
• I have a shortlist of 1–3 brokers and a first choice.
• I have ID, proof of address, and tax numbers ready.