PSA Account Type

　　PSA offers various account types to cater to different investment needs. The primary account types include:

• Cash Account: This is the most common type where you can only purchase investments with the money you have deposited. There are no borrowing options.
• Margin Account: This account allows you to borrow funds from the broker to purchase securities. While it offers leverage, it also involves higher risk due to potential margin calls.
• Robo-Advisor Account: This account is managed by algorithms that create and manage your investment portfolio based on your goals and risk tolerance. It is ideal for investors looking for a hands-off approach.

　　

PSA Broker Account Opening Process

　　Opening a broker account with PSA is a straightforward process that typically involves the following steps:

• Select an Account Type: Choose between a cash account, margin account, or robo-advisor account based on your investment strategy.
• Complete the Application: You can fill out the application online in under 15 minutes. You'll need to provide personal information such as your name, address, Social Security number, and employment details.
• Fund Your Account: After your application is approved, you need to fund your account. Many brokerages allow you to link your bank account for easy transfers. Some may require a minimum deposit, while others may not.
• Start Investing: Once your account is funded, you can begin purchasing investments. You can buy stocks, bonds, mutual funds, and ETFs according to your selected account type.

　　For detailed information on the specific documentation required and additional steps, you can refer to the PSA account opening guide.