AutoShares Account Type

AutoShares offers a variety of account types to cater to the needs of different investors. The available accounts include:

• Standard Accounts
• Individual Account: A personal investment account registered under one persons name only.
• Joint Tenants with Rights of Survivorship: A joint account where, upon the death of one tenant, the entire account ownership reverts to the surviving tenant.
• Joint Tenants in Common: A joint account where the surviving tenant is entitled only to their pro-rata portion upon the death of another tenant.
• Custodial Account: Established by an adult for the benefit of a minor, completed in the minor's name and social security number. Margin trading is not available.
• Entity Accounts
• Corporate Account: Must be registered in the corporation's name, requiring a corporate agreement form and at least one individual with full trading authorization.
• Limited Liability Corporation (LLC): Registered in the LLC's name, using a tax identification number.
• Sole Proprietorship: Registered in the name of the sole proprietorship.
• Partnership: Registered in the name of the partnership, requiring partnership documents and at least one individual with full trading authorization.
• Trust Accounts: Both revocable and non-revocable personal trusts are available, with specific forms required for each type.
• Investment Club: Registered in the name of an investment club, using a tax identification number. Margin trading is not available.
• Retirement Accounts
• Traditional IRA: Allows contributions of pre-tax or after-tax dollars, with tax benefits.
• Roth IRA: Contributions are taxed, but withdrawals are tax-free under certain conditions.
• SEP IRA: Designed for small businesses, allowing employer contributions.
• Rollover IRA: A tax-free reinvestment of a distribution from a qualified retirement plan into an IRA.

For more details, visit AutoShares Account Types.

AutoShares Broker Account Opening Process

Opening an account with AutoShares is a straightforward process that takes approximately 10 minutes. Heres how to get started:

• Gather Required Information:
• Valid Social Security or Tax ID number
• A valid driver's license or passport
• Bank account information
• Employers address and telephone number
• Annual income, liquid, and total net worth
• Complete the Application:
• Access the online application form here.
• Fill in the required personal and financial information.
• Verification:
• The information provided will be verified to comply with securities rules and regulations. If verification fails, the account may be restricted or denied.
• Funding the Account:
• Your account must be funded to place trades. Funding instructions will be provided at the end of the application process.
• Account Types Available:
• You can choose from standard accounts (individual, joint), retirement accounts (IRA, Roth IRA, SEP IRA), and entity accounts (corporate, LLC, partnership, trust).

For more information on the account opening process, visit Open a New Account.