Desjardins Online Brokerage Account Type

Desjardins Online Brokerage, also known as Disnat, offers a variety of account types to cater to the diverse needs of investors. The primary account types include:

• Non-Registered Accounts:
• Cash Accounts: Ideal for trading equities, mutual funds, and fixed-income securities.
• Margin Accounts: Allows investors to borrow funds to leverage their investments.
• Margin Option Accounts: Enables trading options in addition to margin trading.
• Short Selling Accounts: For investors who wish to sell securities they do not own.
• Registered Accounts:
• Tax-Free Savings Account (TFSA): Allows tax-free growth on investments.
• Registered Retirement Savings Plan (RRSP): Provides tax deductions on contributions and tax-deferred growth.
• Registered Retirement Income Fund (RRIF): Designed for retirees to withdraw income while keeping investments tax-deferred.
• Registered Education Savings Plan (RESP): Helps save for a child's post-secondary education with government grants.
• Locked-In Retirement Account (LIRA): For transferring pension funds, with restrictions on withdrawals until retirement.
• Life Income Fund (LIF): Converts a LIRA into a fund that provides income during retirement.
• First Home Savings Account (FHSA): Tax-free savings for a down payment on a qualifying first home.

Desjardins Online Brokerage Account Opening Process

Opening an account with Desjardins Online Brokerage is a straightforward process that can be completed online. Here are the steps involved:

• Eligibility Requirements:
• Must be at least 18 years old.
• Must reside in Canada.
• Must possess some investment knowledge.
• Required Information:
• Social Insurance Number (SIN).
• A void cheque in JPEG or PDF format.
• A scanned copy of a government-issued photo ID.
• Application Process:
• Online Application: Visit the Disnat website and complete the online application form. This process typically takes about 20 minutes for non-registered, RRSP, and TFSA accounts.
• Identity Verification: You will need to verify your identity as per regulatory requirements.
• Funding Your Account: After approval, you can fund your account via electronic funds transfer, cheque deposit, or transfer from another financial institution.
• Account Activation: Most accounts are activated within 48 hours after the completion of the application and funding process.

By following these steps, investors can successfully open an account with Desjardins Online Brokerage and start trading in various financial markets.