Step-by-Step Guide: How to Buy US Stocks - Detailed Account Opening Process for 5 Popular Brokers

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Are you also wondering how to buy US stocks but feel overwhelmed and unsure where to start? In fact, the entire process only requires three simple steps: choose a broker, open an account, and deposit funds. We have carefully selected five popular brokers that are highly favored by beginners:

• Firstrade
• Charles Schwab
• Interactive Brokers
• Futu (Moomoo)
• eToro

Don’t hesitate any longer! Follow this latest 2025 comprehensive tutorial and immediately take your first step into investing in global markets.

Key Highlights

• Buying US stocks involves three simple steps: choose a broker, open an account, and deposit funds.
• The article introduces five popular brokers, each with unique features suitable for different user needs.
• Before opening an account, prepare your passport, email, and phone number, and fill in personal information accurately.
• Wire transfer from domestic banks is the primary deposit method; pay attention to filling in the correct remittance information.
• Your funds are protected by the Securities Investor Protection Corporation, and as a non-US resident, you enjoy capital gains tax benefits.

Popular US Stock Brokers Comparison: How to Choose?

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With so many options, you might feel confused. Don’t worry; we have compiled a clear comparison table for you to see the core features of these five brokers at a glance. This table will help you quickly find the one that suits you best, giving you more direction when thinking about how to buy US stocks.

Quick Tip: The “$0 commission” in the table generally refers to online trades of stocks and ETFs. If you need broker-assisted orders or trade options, futures, or other products, additional fees may apply.

Firstrade: Top Choice for Zero Commissions and Chinese Support

If you are a beginner investor and place great importance on Chinese language support, Firstrade is almost your best choice. It was the first to launch zero-commission US stock trading, with an interface extremely friendly to Chinese users.

Even more attractive are its generous new user rewards:

• Transfer Rebate: Transfer in over $2,500 from another broker, and you can receive up to $250 reimbursement for transfer fees.
• Wire Transfer Subsidy: For a single wire deposit over $10,000, Firstrade will reimburse up to $25 in bank handling fees.

Charles Schwab: Benchmark for Comprehensive Strength and Service

Charles Schwab is an industry giant. Choosing it means choosing peace of mind and trust. Its total client assets reach an astonishing $11.83 trillion, proving its strong market position and customer trust. Although the official account opening threshold is $0, to receive full customer service, we recommend preparing $25,000 initial funds for international accounts.

Interactive Brokers: Choice for Professional Traders

If you already have some investment experience and want more professional tools, Interactive Brokers (IB) is your best choice. It is praised by professional review agencies as the broker with the “lowest margin fees”, with margin rates far lower than competitors. With one IB account, you can easily invest in stocks, options, and futures across over 160 global markets.

Futu (Moomoo): Tech Feel and Active Community

Futu (Moomoo) has attracted over 28.16 million users worldwide with its outstanding app experience and active investment community. Its trading interface is full of tech appeal, with powerful and intuitive charting tools. Even better, as long as your account assets meet the requirement (usually $100), you can use valuable Level 2 real-time quote data for free, helping you better judge market bids and asks.

eToro: Social Investing and Copy Trading

eToro takes a unique approach, focusing on the “social investing” concept. Its core feature is copy trading, allowing you to one-click replicate top traders’ portfolios. For those without time to research individual stocks, this is a very effortless choice. Using copy trading incurs no additional management fees, with costs included in the trading spread, making it easy to get started.

Firstrade Account Opening Process

Firstrade’s account opening process is renowned for its simplicity and efficiency, entirely online and very beginner-friendly. You only need to prepare the materials and spend about 15 minutes to easily complete it.

Prepare Account Opening Materials

Before starting, make sure you have these two items ready; this will make your account opening process smooth:

• Valid Passport: This is your most important identity document.
• Email and Phone Number: Used to receive verification codes and account notifications.

Pro Tip: Take clear, complete photos of your passport information page and signature page in advance with your phone. Ensure the photos have no glare and all text is clearly visible, so you can pass verification in one go.

Fill Out the Online Application Form

Once prepared, you can start the online application. You need to visit the Firstrade official website and choose to open an “International Account”. Then, the system will guide you through filling in a series of personal information, including name, date of birth, residential address, and employment status.

During this process, you will fill out a W-8BEN form online. You don’t need to worry about the complexity of this form; it is just a tax declaration to confirm your non-US resident status and enjoy corresponding tax benefits.

Upload Identity Verification Documents

Now, you need to upload your identity documents for verification. According to Firstrade’s requirements, international account applicants need to provide a government-issued valid passport.

Please directly upload the passport photos you prepared in advance. Be sure to confirm that your passport is still valid and that the uploaded images clearly show your information page and signature page. Expired documents will not be accepted.

Electronic Signature and Await Review

Congratulations, you’re just one step away! After confirming all information is correct, you need to complete electronic signatures on the W-8BEN form and other account opening documents. This usually just requires typing your name in the designated spots.

After submitting the application, all you need to do is wait patiently. Firstrade’s review process is fast; typically within one to two business days, you will receive an email notifying you of successful account opening. Now, you’re just one step away from buying your first US stock!

Charles Schwab Account Opening Process

Choosing Charles Schwab means selecting an industry giant. Its account opening process is more rigorous than some emerging brokers, but every step reflects its professionalism and emphasis on compliance. Follow the guide below, and you can complete it smoothly.

Visit the International Website and Prepare Materials

First, you must visit Charles Schwab’s international website (Schwab.com/international) to start the application. Before beginning, prepare the following documents to greatly speed up your application:

• Valid Passport: Clear scans or photos including the information page and signature page.
• Proof of Address: Used to verify your residential address.

Good News! The official threshold for Charles Schwab international accounts is $0. You don’t need to worry about a minimum deposit; you can fund flexibly according to your plan.

Fill Out the Online Account Opening Questionnaire

After clicking to open an account, you will enter a comprehensive online questionnaire. You need to patiently and accurately fill in personal information, including name, contact details, employment information, and financial status. The system will also guide you to complete the W-8BEN form online. Just answer truthfully; this form helps you declare non-US resident status for tax benefits.

Upload Identity and Address Proof

After completing the questionnaire, it’s time to upload proof documents. You need to upload your passport scan. For address proof, Schwab accepts various document types. Ensure the name and address on the documents exactly match the information you provided in the application.

You can prepare any of the following:

• Recent utility bill or bank statement
• For Chinese residents: Household Registration Residence Permit

Await Review and Account Activation

After submitting all documents, you have completed all application steps. Next, you just need to wait. As a large financial institution, Schwab’s review process is very rigorous, typically taking several business days to about a week. Once your account is approved, you will receive a confirmation email with your account details. After receiving the email, you can prepare to deposit funds and officially start your US stock investing journey!

Interactive Brokers Account Opening Process

If you have accumulated some investment experience and want more professional tools, Interactive Brokers (IB) will be your ideal choice. Its account opening process is more detailed than other brokers because it needs a comprehensive understanding of your trading background. Don’t worry; following our steps, you can easily complete it.

Choose Account Type

Before starting, you need to make an important choice: open an IBKR Pro account or IBKR Lite account. This determines your trading costs and available tools.

The table below can help you quickly understand their differences:

Beginner Recommendation: For most users just starting with US stocks, choosing the IBKR Lite account is sufficient. It not only waives US stock trading commissions but also has a more user-friendly interface.

Create User and Verify Email

After selecting the account type, you need to create a username and password. Then, IB will send a verification email to your registered email. Simply log into your email and click the link in the message to complete verification and proceed to the next step.

Fill Out Compliance and Tax Information

Next, you need to fill in a series of personal information, including name, address, occupation, and financial status (annual income, net worth, etc.). In this section, you will complete the W-8BEN form online. Just answer truthfully; this form declares your non-US resident status to enjoy tax benefits.

Set Trading Experience and Goals

IB places great importance on risk management, so it will ask in detail about your investment experience and goals. You need to select the products you plan to trade (such as stocks, options) and your trading years and knowledge level. To ensure smooth stock trading, be sure to select at least one year of “stocks” trading experience and “good” or higher knowledge level.

Fund Account to Activate

After submitting all information, your application enters the review stage. Typically within one to three business days, you will receive the review result. Note that unlike other brokers, IB usually requires you to complete the first deposit before fully activating the account and accessing real-time market data. Once approved, you can prepare to deposit funds and officially start your professional investing journey!

Futu (Moomoo) Account Opening Process

Futu (Moomoo) is highly favored for its tech-savvy app and smooth user experience. Its account opening process is highly integrated on mobile, allowing you to complete all operations in just a few minutes—perfect for those accustomed to using phones.

Register via App or Website

We strongly recommend downloading the Futu (Moomoo) app to start the registration process. Its interface guidance is very clear, with a far better experience than the web version. You just need a commonly used email or phone number and set a secure login password to easily create an account.

Fill in Basic Information

After creating the account, you need to follow the app prompts to fill in a series of basic information. This is like filling out a standard personal profile, mainly including:

• Personal Information: Your name, date of birth, nationality, etc.
• Identity Proof: Provide your identity document number, such as passport number.
• Employment and Financial Status: Briefly describe your occupation, annual income, and net worth.

Friendly Reminder: Be sure to fill in all information accurately. This information is the basis for the broker’s compliance review; ensuring accuracy will make your subsequent investing smoother.

Complete Online Identity Verification

To secure your account, Futu (Moomoo) requires identity verification. In this step, you need to upload your identity document. For mainland China residents, using a passport for verification is the most convenient and highest success rate method. Simply follow the in-app guidance to photograph and upload a clear passport information page.

Facial Recognition and Risk Disclosure

The final step is security verification and compliance confirmation. You need to complete a facial recognition operation to ensure the applicant is the person themselves.

Then, the system will ask you to read and agree to a series of risk disclosure documents. Don’t worry; this is a standard process for all legitimate brokers to ensure you understand potential investment risks. Documents you need to confirm include but are not limited to:

• Client Agreement and Privacy Policy
• Extended Hours Trading Risk Disclosure
• Margin Trading Explanation

After completing these confirmations, click submit, and your account opening application is fully complete! Futu (Moomoo)'s review speed is usually fast; just wait patiently for one to two business days to receive the successful account opening notification.

eToro Account Opening Process

If you want to learn from experts’ investment strategies and make investing simpler, eToro’s social investing model is tailor-made for you. Its account opening process is equally simple and intuitive, allowing you to quickly join this global investment community.

Register and Fill Out Questionnaire

First, visit the eToro website or download its app to create a unique username and password. After registration, the system will guide you to fill out a short questionnaire. This questionnaire aims to understand your investment experience and risk preferences to provide a more suitable experience.

Funding Reminder: eToro account opening itself has no funding requirement, but when ready for real trading, you need to deposit the first funds. Depending on your region, the minimum deposit varies; for most international users, it is usually $200.

Verify Phone and Email

To secure your account, eToro requires verification of contact methods. You will receive an SMS verification code and a verification email separately. Simply enter the code as prompted and click the link in the email to easily complete verification. This is an important step to protect your future assets.

Upload Identity and Address Proof

Next is the identity verification step; you need to submit two documents to complete account authentication:

• Identity Proof: Clear passport photo.
• Address Proof: Recent utility bill or bank statement, with name and address exactly matching the information you registered.

Ensure the uploaded document images are clear and complete, with all text easily readable, to greatly speed up the review process.

Understand Virtual Account and Copy Trading

The most attractive aspect of eToro is that it provides a powerful practice ground. Your account automatically comes with a virtual portfolio, allowing you to familiarize yourself with the platform in a zero-risk environment.

• Initial Funds: The account comes with $100,000 in virtual funds.
• Flexible Adjustment: You can reduce virtual funds to a minimum of $2,000.
• Top-Up Anytime: If needed, you can contact customer service to replenish virtual funds.

You can use this virtual money to fully experience eToro’s core feature—copy trading. Before investing real funds, simulate copying top traders with the virtual account; this is the best way to learn investment strategies and build confidence.

Understanding How to Buy US Stocks: Key Deposit and Withdrawal Guide

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After successfully opening a broker account, you reach the final step—depositing funds. This is the key link before you truly start buying US stocks. Mastering the correct deposit and withdrawal methods will make your investing journey smoother.

Deposit via Domestic Bank Wire Transfer

For users in mainland China, the most mainstream deposit method is international wire transfer through a bank. You can directly use a mainland Chinese bank or operate through a licensed Hong Kong bank, with the latter usually providing a smoother experience.

Time Expectation: International wire transfers are not instant. Funds typically take 1-5 business days to appear in your broker account, so patience is needed.

Detailed Deposit Operation Steps

Want to know specifically how to buy US stocks and successfully deposit? The operation is actually simple; just follow these steps:

1. Obtain Recipient Information: Log into your broker account, find the wire transfer guide on the deposit page, and get the recipient bank’s detailed information.
2. Currency Exchange: Use your bank app or branch to exchange RMB into USD.
3. Fill in Remittance Information: The most critical step when filling the wire application is correctly entering the remittance reference (reference/message). This is usually your broker account number and name in pinyin, e.g., 12345678 ZHANG SAN.
4. Confirm Recipient: Accurately fill in the recipient bank name, address, and SWIFT code provided by the broker. For example, Interactive Brokers’ SWIFT code is IBKRUS33.
5. Consider Alternatives: If you find bank wire transfers cumbersome, you can also consider using Biyapay digital payment solutions to manage your funds.

Withdraw from Broker to Domestic Bank

When you decide to withdraw profits or principal, the process is the reverse. You need to submit a withdrawal request on the broker platform and provide your receiving bank information.

For example, with Charles Schwab, online-initiated international wire transfers cost $15. Remember, withdrawals also take time, with funds potentially taking up to five business days to arrive. Similarly, you can explore using Biyapay to receive funds for a different experience.

Common Deposit/Withdrawal Issues and Tips

Why did my remittance fail? This is a common issue many beginners encounter when learning how to buy US stocks. To avoid trouble, note these common errors:

• Insufficient bank account funds
• Incorrect recipient name or account number
• Incorrect or missing remittance reference format
• Flagged by bank for security or compliance reasons

Success Secret: Before clicking “submit,” double-check every piece of information. Ensure your broker account name exactly matches the bank account name; this is key to success.

Now, you should have a clear answer on how to choose a broker. Let’s quickly recap:

• Firstrade: Pursue ultimate cost-effectiveness and Chinese support.
• Charles Schwab: Value comprehensive strength and brand reputation.
• Interactive Brokers: Designed for professional traders.
• Futu (Moomoo): Enjoy tech feel and active community.
• eToro: Easily try social copy investing.

You now know the complete process of how to buy US stocks; the most critical step is to “take action.” We hope this guide helps you clear obstacles. Now, choose a favorite broker and start your global investing journey!

FAQ

Is my money safe when investing in US stocks?

Your funds are strictly protected. The legitimate brokers you choose are all protected by the Securities Investor Protection Corporation (SIPC).

SIPC Protection: If the broker goes bankrupt, your account will receive up to $500,000 in insurance compensation. This provides you with solid security, allowing you to invest with peace of mind.

How much money do I need to prepare to start?

You don’t need to worry about startup funds at all. Most brokers we introduce offer a $0 account opening threshold. You can start with small amounts like $100 or $200 based on your financial situation, easily taking the first step in investing.

Do I need to pay taxes to the US?

As a non-US resident, you enjoy tax benefits. You only need to fill out the W-8BEN form online to be exempt from capital gains tax (profits from stock price differences). However, dividends (cash dividends) you receive will have 30% withheld as tax.