CHS Account Type

CHS offers various types of brokerage accounts to cater to different investment needs. These accounts include:

• Individual Brokerage Account: This account is owned by a single individual, allowing them to buy and sell securities independently.

• Joint Brokerage Account: Shared by two or more individuals, typically spouses or family members, this account facilitates pooled investments. There are three sub-types:

• Joint Tenants with Rights of Survivorship: Both owners have equal rights, and if one owner passes away, the survivor automatically inherits the decedent's share.
• Tenants in Common: There is no right of survivorship; the decedent's share goes to their estate.
• Community Property: Exclusive to married couples, assets are split 50/50, and the decedent's share goes to their estate. This type is only available in certain states.

• Margin Account: This account allows investors to borrow against their securities to trade, providing the potential for greater returns but also increasing risk.

• Cash Account: In this account type, investors purchase securities only with the cash available in the account, without borrowing.

CHS Broker Account Opening Process

Opening a brokerage account with CHS involves a straightforward process:

• Select the Account Type: Determine which type of account best suits your investment goals (Individual, Joint, Margin, or Cash).

• Complete the Application: Provide necessary personal information, including your Social Security number, address, and financial details. This process typically takes about 15 minutes.

• Fund Your Account: After your application is approved, you need to deposit funds into your account. This can be done through electronic transfer from your bank, or by mailing a check.

• Start Trading: Once your account is funded, you can begin buying and selling securities according to your investment strategy.

For more detailed information, you can visit the official CHS brokerage website.