Q&A with Apricot: What is a brokerage account? How Do I Fund and Withdraw Money from My Brokerage Account?

Just like you need a bank account to store your money and access banking services, you need a brokerage account to enter the world of investments. Whether you’re interested in stocks, bonds, ETFs, or other securities, a brokerage account is your essential tool to buy, sell, and manage these investments. 

Never had a brokerage account before and not sure how it works? This post answers the most frequently asked questions about brokerage accounts.

1.What exactly is a brokerage account?

Think of it as a digital wallet to hold and manage your investments. You can open such an account with a licensed financial company that offers brokerage services (like Apricot Capital). Such an account gives you access to a wide range of financial markets and investment opportunities, depending on those offered by your broker. It is crucial to choose a broker that is licensed and regulated by the Central Bank to ensure your money is safe. Not sure what to consider when choosing a broker? Read our blog post .

2. How can I fund my Apricot brokerage account?

You can fund your brokerage account with money as well as with securities.

• Bank Transfer: Currently, you can fund your brokerage account through a bank transfer. The instructions and necessary information to make the transfer are available here. You can fund your account with AMD or available foreign currencies (currently USD, EUR, AED). Remember, you can always exchange currencies directly in our app at competitive rates. The step-by-step video tutorial on currency exchange on the app is available here. Once we receive the transferred funds, we will deposit them into your brokerage account, and you’ll receive an email notification that the funds are available. Keep in mind bank transfer processing times and plan your fund transfers accordingly.
• Transfer Securities from another broker: Have investments with another broker that you want to move to your Apricot account? Simply go to “More” -> “Trader Messages” in our app, write what you want to do, and our team will guide you through the process. 

3. How can I withdraw money from my Apricot brokerage account?

Need to access your funds? No problem! You can easily withdraw money back to your bank account. 

• Transfer to an Armenian bank account | Open our app, tap “More” -> “Trader Messages” and let our team know the amount you want to withdraw and your Armenian bank account information. They will transfer the money. Keep in mind bank transfer processing times and plan your withdrawals accordingly.
• Transfer to a foreign bank account | Open our app, tap “More” -> “Trader Messages” and let our team know that you want to withdraw to your foreign bank account. Our team will guide you through the process.

Important to know for withdrawing:

• You can only withdraw to your own bank account. The bank account must be under your name.
• You’ll need to provide the correct currency bank account information. For example, if you sold a stock on the US stock market, you’ll have USD on your brokerage account. To withdraw it, you have two options:
  1. Provide your USD bank account information.
  2. Exchange your USD to AMD within our app and withdraw the AMD. A step-by-step video tutorial on currency exchange is available here.

4. Are there any costs associated with using an Apricot brokerage account?

We believe in transparent and affordable investing:

• No account opening fees
• No yearly account maintenance fees
• No withdrawal fees when transferring to Armenian bank accounts

We also offer low commissions for brokerage services. See our fees here.

Ready to Start Investing?

Apricot Capital makes investing simple and accessible. Open a brokerage account for free with us and start building your financial future. Download our Apricot app from the App Store and Google Play.

Want to learn more about investing? Check out other articles in our Q&A series, Glossary, and Apricot talks: the smart investor’s podcast.

It’s important to remember that investments are subject to market fluctuations and carry inherent risks. Consider your financial goals and risk tolerance before investing.

Apricot Capital is regulated by the Central bank of Armenia.

The examples in this text are for illustrative purposes only.