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ARMO Broker account opening

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May 2024
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Getting started with ARMO Broker

Are you a new investor considering opening a brokerage account at ARMO Broker but don't know how to do it? Are you wondering how long the process takes and how difficult it is?

Opening a brokerage account can seem daunting. Unfortunately, account opening is indeed not a great experience at ARMO Broker, so if that keeps you from getting started, check some more user-friendly alternatives.

Opening an account at ARMO Broker is not a rewarding experience
András
András Régely
Investments • Stock Market • Market Analysis

Together with my brokerage analyst colleagues, I have thoroughly tested the services of ARMO Broker by opening a real-money account. Here’s what you need to know about account opening if you want to start investing with ARMO Broker:

  • Account opening at ARMO Broker is fully online and takes 1-3 days.

  • You will need to prove your identity and residency with documents.

  • Choose an account type that suits your needs.

  • You can choose from multiple base currencies.

  • The minimum deposit at ARMO Broker is $2,160.

  • Browse the best brokers for beginners for some great alternatives.

Before we start, let's check if ARMO Broker is available in your country:

No, you can't open an account at ARMO Broker if you live in the United States!
the United States
BrokerChooser score
3.9 3.9 /5
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Account opening at ARMO Broker vs other competitors

Account opening at ARMO Broker is fully online, meaning you can do it from the comfort of your chair. In fact, you don't even need a chair: you can simply do it on the go on your mobile phone.

See how we rated the account opening experience and how long it takes to get started at ARMO Broker compared with its main competitors:

ARMO Broker account opening vs similar brokers
Account opening score
1.9 stars 1.3 stars 2.5 stars
Account opening fully online
Yes Yes Yes
Time to open account
1-3 days >3 days >3 days

Opening an account is always free of charge, but the time it takes differs from broker to broker. At some brokers, it's as quick as signing up for a new Gmail account. At others, it might take a couple of days as they run a background check on your data. At ARMO Broker, it usually takes 1-3 days to have your account up and running.

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Navigating the complexities of trading can be challenging. If you're a new investor, you'll need a broker with a user-friendly trading interface and robust educational materials. So where to find such brokers? Start with our toplist of brokers we rated as good for beginners.

How to get a verified trading account at ARMO Broker?

First, you need to go to ARMO Broker's website and fill a registration form to apply for an account. It takes the broker a bit of time to review and verify your application - usually 1-3 days - after which you can make your first deposit and start trading.

The journey at ARMO Broker

Opening a brokerage account is not unlike opening a bank account. As you go through the steps, you’ll find that it is a simple and familiar process. Once your brokerage account is set up, you’ll find that the experience is similar to what you get with a bank account that you use for savings and transactions. See, it’s just another way of managing your money!

The sign-up procedure is usually self-evident; just follow the instructions carefully. Here's what awaits you at ARMO Broker:

The account opening process is fully digital but complicated. Following an online registration, you have to wait for account verification, which took two business days for us. At some brokers, the whole process takes about 20 minutes.
Note that the account opening process takes place on the broker's own website, not on the interface of its partner Interactive Brokers.
After you click on the 'Open a live account' tab, you have to go through a 3-step registration process, which takes between 30-60 minutes.

  1. Personal information: name, address, email, phone number, date and place of birth, nationality, marital and employment status. You also have to select your base currency and the account type. There are a few security questions followed by the W-8Ben form. This is required to invest in the US market and get a tax advantage.
  2. Account settings: provide regulatory information, your income, net worth, trading objectives and trading experience. You have to upload proof of identification and proof of address here.
  3. Risk warnings: accept the agreements and disclosures.

To verify your identity and residency, you have to upload one of the following documents:

  • Proof of identity - passport, national ID or driver's license are accepted
  • Proof of residency - bank statements or utility bills are accepted
Account opening at ARMO Broker

The following steps are typical toward the end of the application process or after verifying your identity:

  1. You'll have to fill out a trading experience survey. It might seem scary at first, but it is nothing to worry about. This is standard procedure, as brokers need to make sure that you have some basic financial knowledge and are aware of the risks of trading.

  2. Next, you'll have to choose an account type and a base currency.

  3. As a final step, you'll need to fund your account before you can start trading.

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Which ARMO Broker account to choose?

Brokers usually provide multiple account types. When choosing an account, consider how experienced you are in trading, and pick an account that suits your needs. Some factors to take into account: your investment goals, risk tolerance, trading frequency, and any associated fees or account balance minimums.

If you're a beginner, we recommend selecting the most basic account offered by the broker, which is the standard account.

Find out more about ARMO Broker's specific account types in our comprehensive ARMO Broker review for 2024.

Which base currency should you choose?

At ARMO Broker, you can choose from the following base currencies: EUR, GBP, USD, CHF, CZK, PLN, DKK, NOK, SEK, AUD, CAD, HKD, HUF, INR, ILS, JPY, MXN, NZD, RUB, SGD. If possible, try to deposit money to your brokerage account in your account's base currency. Better yet, choose a base currency in the first place that you plan to most often use for depositing.

Why is all this important? If you fund your trading account in the same currency as your bank account, you won't have to pay a conversion fee. Conversion fees apply if:

  • You make a deposit in a different currency than the currency of your brokerage account.

  • You trade assets denominated in a different currency than your brokerage account's base currency.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.

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BrokerChooser score
3.9 3.9 /5
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Fund your account and start trading at ARMO Broker

Once you have filled out the registration form, uploaded your documents, finished the trading survey and selected your account type and base currency, ARMO Broker will verify your account shortly. After successful verification, you need to fund your account to be able to begin trading.

This is where you are in the account opening process at ARMO Broker
  • Choose your funding method.

  • Enter the amount to be deposited and other necessary details for the transaction.

  • Double-check if payment details are correct.

  • If all looks OK, click to submit your deposit request.

At ARMO Broker, the required minimum deposit is $2,160. This means that you have to put at least $2,160 in your broker account to be able to start trading.

Is that more than you're willing to commit at this point? See if you can start trading with less at other brokers.

At ARMO Broker, the only available option to deposit money to your account is via bank transfer.

Broker
Minimum deposit
Bank transfer
ARMO Broker
$2,160
CapTrader
$2,000
Brokerpoint
$0
Deposit requirement and funding methods

After successfully funding your account, you're all set to start trading.

To explore ARMO Broker’s top competitors, head over to our top list of the best brokers for beginners, whose low fees and user-friendly features benefit new investors like you.

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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

András Régely
Author of this article
As a Broker Analyst at BrokerChooser, I'm dedicated to providing data-driven insights that simplify the world of investments. With a solid academic background, including an MSc in Accounting and Finance from LSE, I bring a deep understanding of financial markets to my role. My mission is to assist retail investors in finding the perfect broker fit by leveraging my trading experience and analytical skills. At BrokerChooser, I merge my passion for trading with a keen eye for market trends, helping clients navigate online brokers confidently and effectively.
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