Schwab Brokerage Account

Common questions

What is a brokerage account?

A brokerage account is an arrangement between you and a licensed brokerage firm. Once your account is set up, you can deposit funds and place investment orders through the brokerage, and the transactions will be carried out on your behalf. You have the freedom to invest in whatever eligible investment you choose—stocks, bonds, futures, mutual funds, and more—all in a single account.

What's the difference between a margin account and a cash account?

A margin account allows you to borrow against your eligible securities and can be helpful when you need to buy more securities, take advantage of timely market opportunities. However, margin borrowing is not for everyone, and you should consider all risks and limitations before selecting this option. 

 

A cash account only allows you to use the cash that you deposited to buy stocks, bonds, futures, mutual funds, or other investments. This type of account presents less market risk as you are only investing assets that you already have, but can be more limiting when timely opportunities or emergencies arise.

Can I trade options in my brokerage account?

You must be approved in order to trade options in a Schwab brokerage account. During the online application process, you can choose to add options trading and apply for one of four levels of approval based on your objectives, experience, and financial position.

 

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled Characteristics and Risks of Standardized Options. Supporting documentation for any claims or statistical information is available upon request.

Account opening and funding questions

Account opening and funding questions

What is the minimum deposit to open a brokerage account?

There is no minimum deposit to open a Schwab One International^® account.

What do I need to open a Schwab One International^® Account

1. Substitute Form W-8BEN
2. Scan of Passport or Singapore Government ID
3. Proof of residency ex: copy of a utility bill
4. Opt-in and provide evidence of Accredited Investor status

How do I open a brokerage account?

The easiest way to open a Schwab One International^® account is online. You can also get help opening an account by contacting us.

The online account application process includes the following key steps:

• Choosing the type of brokerage account (individual or joint)
• Qualifying and opting-in to be treated as an Accredited Investor
• Providing your personal, employment, and financial information
• Selecting specific account features
• Creating login credentials and providing contact information for your account
• Verifying your identity
• Indicating how you'll fund the account

How do I fund my brokerage account?

There are multiple ways to fund your new Schwab account:

• Wire transfer request from another financial institution.
• Transfer account from another brokerage firm.

Full funding instructions and access to online fund transfer tools will be provided after your account is fully established.

What is an Accredited Investor?

To open a Schwab One International^® account through Singapore you will need to qualify and opt-in to be treated as an Accredited Investor. We do not accept non-Accredited Investor applications. 

For Individual & Joint Accounts

The minimum requirement requires satisfaction of at least one of the assessments below:

(A)  Personal Income Assessment

An individual whose personal income in the preceding 12 months is not less than S$300,000.

(B) Net Personal Assets Assessment

An individual whose net personal assets exceed S$2 million . 

(C) Net Financial Assets Assessment

An individual whose net financial assets (net of any related liabilities) exceed S$1 million. Where ‘financial asset’ generally means; bank deposits, investments or easily liquidated assets.

For Corporate & Trust Accounts

The minimum requirement requires satisfaction of at least one of the assessments below:

(A)  Net Assets Assessment

A corporation with net assets exceeding S$10 million in value.

(B) Shareholder Assessment

A corporation or entity where the entire share capital is owned by one or more persons, all of whom are Accredited Investor(s). 

Our assessment of your Accredited Investor still will require documentary support. Click here for more details.