Preparing For Your First Investment: How to Choose a Brokerage Account

[INFOGRAPHIC] What You Need to Know About Opening a Brokerage Account

In order to buy and sell stocks, you’ll need a brokerage account. This account allows a broker to sell and purchase, on your behalf, to other people willing to give or take the same stock. Choosing a brokerage account can seem confusing because you have a lot of options. Let’s take a look at these options.


View the full size how to open a brokerage account infographic here.

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Do You Have Enough Money to Start Investing?

In most cases, you can invest with $500. What’s more important is to make sure you completely understand the company you are investing in. Rule #1 can help you find stocks that match YOUR values so that you can make an impact on this world while making great returns at the same time.




Phil Town is an investment advisor, hedge fund manager, 2x NY Times best-selling author, ex-Grand Canyon river guide and a former Lieutenant in the US Army Special Forces. He and his wife, Melissa, share a passion for horses, polo, and eventing. Phil’s goal is to help you learn how to invest and achieve financial independence. You can follow him on google+, facebook, and twitter.

  • dread

    As a couple, we have retirement investments in our individual 401ks and 2 IRAs. They are joint accounts funded through our current or past jobs that transformed to IRAs. I’m planning to move one of our IRAs into a Rule #1 account to get started. My question is, should we consider a Roth versus traditional IRA to balance retirement withdrawals?

  • Pratap Ramanathan

    Does ThinkorSwim offer us similar deals when we tell them we’re with RuleOne as well?

  • Boshoff Lourens

    How does opening an brokerage account impact investors from other countries? Can we also open these online accounts, and what about paying taxes on any gains…? Can we also open an IRA account or is this only for US citizens?

  • 5M17HY

    I have just read the first book and keen to give it a go, I am in Australia. Do you have any specific contact points for oversea’s investors?