National Bank Direct Brokerage Account Types

National Bank Direct Brokerage (NBDB) offers a variety of account types tailored to meet different investment needs. These include:

• Cash Accounts: Ideal for investors who want to buy and sell securities using their own funds without borrowing.
• Margin Accounts: Allows investors to borrow funds from the brokerage to purchase additional securities, enhancing buying power but also increasing risk.
• Registered Accounts: Includes options like Tax-Free Savings Accounts (TFSA), Registered Retirement Savings Plans (RRSP), and other tax-advantaged accounts designed for long-term savings and investment growth.
• Investment Funds: Investors can choose from a range of mutual funds and exchange-traded funds (ETFs) to diversify their portfolios.
• Options Accounts: For those looking to trade options, additional documentation may be required to ensure understanding of the risks involved.

National Bank Direct Brokerage Account Opening Process

Opening an account with National Bank Direct Brokerage is a straightforward process:

• Choose Your Account Type: Determine which type of account best suits your investment goals (cash, margin, registered, etc.).
• Complete the Application: You can apply online through the NBDB website or mobile app. The application typically requires personal information, including your employment details and financial situation.
• Submit Required Documentation: Depending on the account type, you may need to provide additional documents, such as identification and proof of income.
• Account Approval: Once your application is submitted, it will be reviewed by NBDB. You will receive a confirmation email once your account is opened, which usually takes 2 to 5 business days.
• Fund Your Account: After receiving confirmation, you can fund your account through bank transfers, checks, or by transferring securities from another brokerage.

For more details, you can visit National Bank Direct Brokerage.