How to Register with a Stock Broker and Open a Securities Account – Spot72.com
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The process of registering with a stock broker and opening an leveraged account is much easier today than it was decades ago. The development of the internet has made it possible for registration to be done online, without having to go all the way to the broker’s office. The initial capital requirements for opening an account are also lighter, it can even be done from zero rupiah or around one hundred thousand.
In more detail, this is a series of steps to register with a stock broker and open an account in Indonesia:
How to Register with a Stock Broker and Open a Securities Account
Choose your stock broker
You can get a list of stock brokers on the OJK website, the Indonesian Stock Exchange website, or other sources on the internet. Peer recommendations can be considered to choose the best stock broker. What’s important, make sure that the stock broker has obtained a permit from the OJK and is strictly part of the Indonesian Stock Exchange.
Know and prepare the criteria for opening an influence account at the broker.
Normally, the registration system only needs four documents:
- Photocopy of KTP or other identity.
- Photocopy of NPWP, or a stamped statement if you don’t have an NPWP.
- Photocopy of bank savings book.
- Fill out the registration form by attaching a Rp. 6000 stamp.
However, stock brokers are able to select additional document requirements. In addition, each broker also has a different minimum initial capital requirement. Opening an influence account doesn’t require any fees, or it’s free.
However, the influence account must be immediately filled with capital when you just open it, which capital can later be used to buy shares. This is what is meant by the minimum capital requirement.
The size of this minimum capital requirement ranges from Rp. 0, Rp. 100,000, Rp. 1,000,000 to several million Rupiah. Make sure you already know the stock broker’s provisions and include preparing all the documents and funds needed, before starting registration.
Start registering with a stock broker
In the past, we were only able to register with a stock broker by coming directly to his office. However, now registration can be started online, via the stock broker site of your choice. Click “Register”, “Sign Up”, or another similar option that appears on the home page.
After that, you will be asked to fill in a registration form and include reading several important documents. Then:
- Fill out the form according to your circumstances
- Print documents.
- Paste the seal at the specified position.
- Sign the document at the specified position. Note that you may be asked to sign each page on the terms and conditions so that the broker can guarantee that you have read them properly. Don’t let there be unfilled hand signal columns.
- Send the form along with attached photocopies of the required documents to the address of the relevant stock broker.
After your shipment has reached its destination, the stock broker will contact you to verify data via your telephone or cellphone number, and include confirming the amount of initial capital that is ready to be deposited. Respond carefully and convey according to the conditions that you have listed in the previous form.
Waiting for broker confirmation
After that, you may have to wait a few weeks, between 2-4 weeks for the broker to confirm the data and open an investor account for you. If it is fully completed and the influence account is active, the stock broker will send the investor’s account number along with the UserID and Password to connect to the online trading platform to your e-mail.
It’s easy isn’t it!? If the leverage account is already active, you can immediately download and place an online trading platform to buy and sell your favorite stocks. Profits can be withdrawn directly from the investor’s account to your bank account (according to the bank account number that you entered on the registration form.