Prosperous Group broker Accounts

Prosperous Account Types

　　Prosperous offers various types of accounts for its users, primarily focusing on retail investors. The accounts available include:

　　General (Taxable) Investment Accounts: These accounts can be held personally or in the name of a trust, estate, or business entity, allowing investors to trade a wide range of securities without specific tax advantages.
　　Individual Retirement Accounts (IRAs): Prosperous provides options for different types of IRAs, including:

Traditional IRA: Allows for tax-deferred growth on investments until withdrawal.
Roth IRA: Contributions are made with after-tax dollars, and qualified withdrawals are tax-free.
Simple IRA: Designed for small businesses, allowing employees to contribute to their retirement.
SEP IRA: A simplified employee pension plan for self-employed individuals and small business owners.
Rollover Accounts: For transferring funds from existing retirement accounts.

　　Opening a Prosperous account is a straightforward process that can be completed in several steps:

　　Eligibility: Anyone aged 18 years and above can open a Prosperous account. Young investors aged 18 to 20 will be classified under a special segment and must complete an additional form.
　　Required Documents:

Step 1: Sign up for a Prosperous account through their website or mobile app.
Step 2: Select your country of residence and citizenship, entering any applicable promo codes for rewards.
Step 3: Provide personal and employment details, including selecting SGD as the currency for ease of funding.
Step 4: Enter tax details, including TIN or IC number if TIN is not available.
Step 5: Fill in your investment product experience, including education background and risk appetite.
Step 6: Agree to the terms and conditions and upload the required documents.
Step 7: Create your user login details.
Step 8: Complete the W-8BEN form to access the US stock market if applicable.