How to Get Started
Brokerage Application
Composer is required by regulators to collect and verify information to open a brokerage account. This includes ID verification, such as full name, date of birth, and address, as well as tax information, such as social security number and investible assets.
We utilize Footprint to collect and verify account information. No sensitive information is stored in our system; therefore, you must complete the brokerage application in one sequence. If you refresh the page, all information that had been entered is lost. We submit your information to one of our partners, Alpaca and/or Apex, registered broker-dealers with FINRA and members of SIPC, who approve your brokerage application within minutes.
There will be times when we require additional information, such as a government-issued photo ID or a tax document upload, to verify your identity and process your application. In these cases, you’ll receive an email or text message from us redirecting you to Footprint to securely upload it. If you have any questions on your brokerage application, don’t hesitate to reach out to help@composer.trade.
Funding Requests
Once your brokerage application has been approved, you’ll receive a confirmation email from us, and you can proceed with funding your account. We utilize a Plaid integration, and you’ll have the option to connect directly to your bank. Deposits are available as Buying Power within 1 business day.
Most banks are available to link instantly via Plaid. There are some banks, such as Chime and Go2Bank, which are not supported.
It typically takes about 6 days from the time of deposit for the funds to be eligible for withdrawal. This is to ensure all transactions have fully processed and limit fraudulent activity. To withdraw funds, go to the user menu in the top right corner of the app and select “Account”.
Investing
Once you’ve completed your brokerage application and deposited money into your account, you’re ready to start trading! You can invest in any pre-made symphony on the Discover page, get creative and build your own, or draw inspiration from a friend and use one of their symphonies if they’ve shared a link with you. You can also edit copies of pre-made symphonies to tailor towards your preferences–simply go to a symphony’s factsheet and select “edit a copy” in the top right corner.
Once you’ve invested in a symphony, we invest in the next trading period (3:50 PM ET). We’ll then automatically execute trades based on the designated calendar frequency or designated threshold. You can manage your investments on the Portfolio page.
If you have at least $25,000 in equity, you can utilize the Buy Now feature. This allows you to trade your symphony multiple times throughout the day (outside of the standard trading period). You can read more about Buy Now in this article.
If you have any other questions, please reach out to help@composer.trade.