How do I open a brokerage account?
Opening a brokerage account is the standard way to buy and sell stocks, bonds, mutual funds, and exchange-traded funds through a registered broker-dealer, and it is a process an investor completes directly with the firm rather than through any federal agency. The 
SEC's Investor.gov lays out what these accounts are and how they work, while a dedicated Investor Bulletin on opening a brokerage account walks through the practical steps. Before applying, an investor should research the firm and its representatives, decide on account type, and understand what information the firm will ask for. None of this requires investment advice from a third party, and the government does not endorse or recommend any particular brokerage.
Researching the firm before applying
Investor.gov advises checking a broker's background and disciplinary history before opening an account, using FINRA BrokerCheck, which shows an individual's employment history, licenses, exams passed, and any criminal, regulatory, or civil disclosures going back at least ten years. Investment advisers and their firms can similarly be checked through the Investment Adviser Public Disclosure (IAPD) database, which shows registration status, fees, conflicts of interest, and Form ADV filings. Investors should also confirm the brokerage and its clearing firm are members of the Securities Investor Protection Corporation (SIPC), since SIPC membership determines what protection applies if the firm fails. Before or at account opening, SEC-registered broker-dealers and investment advisers serving retail investors must deliver a 
Form CRS relationship summary, a short plain-English disclosure covering the firm's services, fees, conflicts of interest, and disciplinary history.
Choosing an account type
Firms offer several categories of brokerage accounts, and Investor.gov's overview of types of brokerage accounts explains the two most basic: a cash account, where the investor must pay the full purchase price for any securities bought, and a margin account, where the firm lends money against the securities in the account and charges interest, which increases both buying power and potential losses. The Investor Bulletin notes that some account applications default to margin, so an applicant should confirm which type they are actually opening before signing. Beyond that basic choice, an investor may also be opening a taxable individual or joint account, or a tax-advantaged account such as a traditional, Roth, SEP, or SIMPLE IRA, each with different tax treatment; the SEC notes it does not regulate IRAs directly and refers tax questions to the IRS IRA webpage. Custodial accounts for minors and other tax-advantaged vehicles, including the newer Trump Account IRA structure for children under 18, are also available through many brokerages.
What information the firm will request
According to the same Investor Bulletin, a brokerage will typically ask for identifying information — name, Social Security or taxpayer ID number, address, phone, email, date of birth, and a government-issued ID — along with employment and occupation details, income and net worth, investment objectives, risk tolerance, time horizon, liquidity needs, other investment experience, and often the name of a trusted contact person. The firm will also ask how uninvested cash should be handled, such as through a bank sweep program or a money-market fund sweep, since these options carry different rates, risks, and FDIC or SIPC coverage, and the firm may have a financial incentive to favor one option over another. An investor should also decide whether to receive paper or electronic statements and confirmations and should review every statement against trade confirmations once the account is open, reporting any errors to the firm promptly by phone and in writing, as described in Investor.gov's guidance on understanding a brokerage account statement.
Fees, protections, and moving an existing account
Brokerage accounts can carry commissions, markups or markdowns, sales loads, account maintenance or inactivity fees, and margin interest, all of which the Investor Bulletin recommends confirming with a firm before signing up. On the protection side, SIPC can replace missing securities and cash up to $500,000 (including up to $250,000 in cash) if a member firm becomes insolvent, but it does not cover losses from a decline in market value, and this is distinct from FDIC or NCUA deposit insurance, which covers bank and credit union deposits rather than securities. An investor moving assets from an existing brokerage generally uses the Automated Customer Account Transfer Service, which under SEC guidance on transferring a brokerage account typically completes within about six business days once the new firm submits the request, though some assets — such as certain proprietary mutual funds, private placements, or annuities — may not be transferable and require separate handling.
To get started, an investor can pick a registered brokerage firm, run its representatives through BrokerCheck, request and read the firm's Form CRS, and then complete that firm's account application, keeping a copy of the account agreement and confirming the account type and cash-sweep choice before signing.