To trade stocks, the first step is to open a stock account. So for beginners, how should they go about opening an account? This article will discuss the basics of trading US stocks from five aspects: account opening process, trading hours, trading rules, trading fees, and minimum trading unit.
01. US Stock Account Opening Process
Required Documents:
1. Chinese mainland residents
1.1 Chinese mainland second-generation ID card
1.2 Chinese mainland banks account's debit card of the same name (it is recommended to use ICBC, ABC, BOCHK, CCB, BOCOM, CMB and other banks' debit cards, only used for real-name authentication, unrelated to fund inflow and outflow)
2. Hong Kong and Macau residents
2.1 Hong Kong permanent resident ID card + address proof (issued within three months).
2.2 Hong Kong resident ID card + Hong Kong visa identity card + address proof (issued within three months).
2.3 Hong Kong resident ID card + China mainland ID card + address proof (issued within three months).
Specific account opening process
02, Trading Hours
1. Continuous Trading Session
The continuous trading session for US stocks is in Eastern Time (ET): Monday to Friday 9:30~16:00
During US Daylight Saving Time (March-November): Beijing Time 21:30~4:00
During US Daylight Saving Time (November-March): Peking Time 22:30-5:00.
2. Pre-market and post-market trading.
US stocks allow pre-market and post-market trading outside of regular trading hours, and orders placed during these periods will be submitted to the exchange for matching. Both NYSE and Nasdaq have dedicated pre-market and post-market trading...