What information is needed to open a brokerage account with BBAE?

To open a brokerage account, we are required to obtain certain information from you to satisfy legal and regulatory requirements, including:

  • Your personal information - This includes your full legal name, current residential address, date of birth, citizenship and SSN or tax ID number. We use this information to verify your identity and run required background and compliance checks.
  • Government-issued photo ID – In some cases, we may require reviewing a copy of your non-expired government-issued photo identification, such as a driver's license or passport. This helps us verify your identity to prevent fraud and comply with anti-money laundering laws depending on your specific account situation.
  • Financial and risk profile - Information such as your net worth, annual income, investment experience, occupation, objectives, risk tolerance, etc. We are required to assess your financial situation and risk profile to determine suitable investment recommendations and limits for your account.

The specific information required can vary slightly depending on the types of accounts and privileges you request. For example, applying for margin or options trading ability may require providing additional financial disclosures and agreements. We aim to maintain strict security and privacy standards for all personal client information provided during the account opening process and throughout your relationship with us.

Please let us know if you have any questions about what information we need for your particular account set up or usage of that information. We are happy to provide clarifications and additional details so you understand what is required to get started with BBAE.