To become an Illuminate member, members must first submit an application to create a brokerage account powered by Interactive Brokers LLC (member of FINRA & SIPC). You may check the background of Interactive Brokers LLC on FINRA's BrokerCheck.
What are the requirements for opening an Illuminate account?
To apply for an Illuminate account, you will need to meet the following requirements:
Be 18 years or older
Have a valid Social Security Number
Have a legal U.S. residential address; and Be a U.S. citizen, green card holder, or valid visa holder
What Information do I have to provide to open an Illuminate account? During the signup process, Illuminate is required to collect the following information:
First and Last Name
Phone Number
Date of Birth
Social Security Number
Country of Birth
Permanent Residential Address
Phone Number
Employment Status and Additional Information
Financial Background Information
Valid Driver's License or Identification Document
As with all of your personal information, this data is transmitted securely using SSL encryption. Your bank login information, passwords, and any tokens are never cached or stored on our servers.
Why do I have to enter my Social Security Number? All financial institutions are required by the U.S. Patriot Act to obtain, verify, and record information identifying each person who opens an account. Your SSN is also required to issue you a tax reporting form each year.
What is the minimum amount required to open an account? There is no minimum required to open an Illuminate account. After your initial deposit, there are no deposit minimums for subsequent deposits. Please note Guided Investing offered at Illuminate that may have minimum initial investment requirements of $20.
What types of accounts can I open at Illuminate? Illuminate currently offers individual taxable brokerage accounts that can invest in our guided investing and personal Trading accounts. Traditional IRAs, and Roth IRAs are coming soon.