Cashpoint Account Type

Cashpoint offers two main types of brokerage accounts to cater to different investing needs: Cash Accounts and Margin Accounts.

• Cash Account:
• A Cash Account allows you to buy securities using only the funds you have deposited.
• You cannot purchase securities without sufficient cash in your account.
• This account type is ideal for beginners who prefer a straightforward approach to investing.
• Transactions in a cash account are fully funded by the investor's own money, meaning no borrowing is involved.
• Margin Account:
• A Margin Account allows you to borrow funds from the broker to purchase securities, effectively leveraging your investment.
• You can buy more securities than you have cash for, increasing both potential gains and risks.
• This account type is suited for experienced investors who understand the risks of using borrowed money.
• Margin accounts also allow for short selling and other complex trading strategies.

Cashpoint Broker Account Opening Process

Opening a Cashpoint account is a simple and straightforward process. Here are the steps to follow:

• Visit the Cashpoint Website: Go to the official Cashpoint website.
• Choose Account Type: Decide whether you want a Cash Account or a Margin Account.
• Complete Registration:
• Click on the ‘Register Now’ button.
• Fill in the required personal information, including your name, date of birth, and address.
• Create a username and password.
• Agree to the terms and conditions.
• Submit Verification Documents: After registration, you will need to verify your account by submitting documents such as:
• Proof of identity (government-issued photo ID).
• Proof of address (utility bill or bank statement).
• Proof of payment method (screenshot of your e-wallet or a scan of your credit/debit card).
• Fund Your Account: Once your account is verified, you can fund it through recognized payment methods.
• Start Trading: After funding, you can begin trading by selecting the securities you wish to invest in.

By following these steps, you can successfully open a Cashpoint brokerage account and start your investment journey.