Common for broker to ask for W9 and SS ID?

Discussion in 'Trading Software' started by Joe Henry, Aug 27, 2015.

  1. Joe Henry

    Joe Henry

    I'm in the process of signing up with suretrader. They are asking for a W9 (includes social security number) in a sketchy email they sent saying they need more information before they can create my account. Is this a common thing for brokers to ask?

    On an aside, they also ask for "references" from a bank. Anyone know what they mean by this?

    TIA
     
  2. It's always a smaller broker that asks for documents. Never had TD or IB ask for any documents.
     
  3. Yes, it's common/universal to disclose your "W9 status". Instead of "asking for a W9", many new account forms require you somehow attest that you are "not subject to W9 withholding".
     
  4. Joe Henry

    Joe Henry

    Thanks @Scataphagos. Is not being subject to W9 withholdings common or do most traders have to use a W9? I'm assuming I'll need one because I'm not really in any special situation (military or anything).
     
  5. Why do the "small" brokers ask for this?