Luminus Financial Account Types

Luminus Financial offers a variety of brokerage accounts tailored to meet the diverse needs of investors. The primary account types include:

• Cash Accounts: These accounts allow you to buy and sell securities using only the cash you have deposited. There are no margin trading options, making it ideal for conservative investors.

• Margin Accounts: For those looking to leverage their investments, margin accounts allow you to borrow funds from the broker to purchase more securities than you can afford with just your cash. This option carries higher risks and requires a thorough understanding of market fluctuations.

• Registered Accounts: Luminus Financial provides several registered accounts, including:

• RRSP (Registered Retirement Savings Plan): Offers tax-deferred growth on investments until withdrawal.
• TFSA (Tax-Free Savings Account): Allows tax-free growth and withdrawals, making it suitable for both short-term and long-term savings goals.
• RESP (Registered Education Savings Plan): Designed for saving for a child's education, benefiting from government grants and tax-free growth.
• Investment Shares: These accounts allow members to invest directly in the credit union, contributing to its capital base while earning attractive annual returns.

Luminus Financial Broker Account Opening Process

Opening a brokerage account with Luminus Financial is a straightforward process. Heres how to get started:

• Visit the Website: Go to the Luminus Financial website and navigate to the investment section.

• Choose Your Account Type: Select the type of brokerage account that suits your investment goals (Cash, Margin, Registered Accounts, or Investment Shares).

• Complete the Application: Fill out the online application form. You will need to provide personal information, including your identification and financial details.

• Fund Your Account: Once your application is approved, you will need to deposit funds into your brokerage account. This can typically be done through electronic transfer from your bank account.

• Start Investing: After funding your account, you can begin trading securities through Luminus Financials online platform, which provides access to various investment resources, including real-time quotes and research tools.

For more details on specific account features and investment options, visit Luminus Financial's investment page.