Frequently asked questions

The Plynk app helps you confidently grow into the investor you want to be. Start with $1 and invest commission-free in stocks, funds and crypto as you build knowledge one step at a time.

The Plynk app is about the stage of life someone is in – not their age – and it was created specifically with investors seeking an uncomplicated experience in mind. There’s no prior investing experience necessary to use the Plynk app.

Your first step is setting up a profile within the Plynk app and then you will be ready to open an account.

Within the Plynk app, you can open four different accounts:

• DBS individual brokerage account (for investing in stocks and funds)
• Crypto account (for investing in cryptocurrency with Paxos Trust Company, N.A.). See crypto FAQs for more information.
• Traditional or Roth IRAs - An individual brokerage account is needed before opening up an IRA. Visit the IRA FAQs for more information.

A brokerage account is an investing account that gives you access to the stock market. It holds the stocks & funds that you invest in.

There’s no minimum required to open an account through the Plynk app, and you can start investing with as little as $1.

The Plynk app offers over 5,000 stocks and 2,000 funds. Also, there are 4 cryptocurrencies offered through Paxos Trust Company, N.A.

You can invest in stocks & funds and crypto commission-free. Expenses charged by investments, interest charges, or other expenses for transactions still apply. See brokerage fee schedule for details. Separate expenses for crypto apply. See crypto fee schedule for details.

As of right now, Plynk is only available as a mobile app which can be downloaded from the iPhone^® App Store and Android^TM   Google Play Store.

Plynk® is available to US residents 18+ years old with a Social Security number. ^*Some restrictions may apply. However, to open a crypto account through Paxos, US citizenship is required.

• Legal name 
• Date of birth
• Social Security number: The Plynk app requires you to input your Social Security number to verify your identity and protect against fraud. As a financial company, we’re required to collect, verify and record identification information.
• Phone number: The Plynk app requires you to input your phone number to ensure the security of your account through your mobile device. We send you a one-time passcode when you log in to your account for the first time to verify it’s you setting up the account, and also when you change your username or password.
• Email Address: The Plynk app requires you to input your email address to verify its validity.
• Address: The Plynk app requires you to input your address to verify your identity.

Access to the Plynk app is free. Some fees may apply if you engage in specific activities, described in detail at plynkinvest.com/disclosures/fee-schedule/. DBS will provide notice to customers upon any general changes to our fees.

When using the Plynk app, we want to make sure users have the peace of mind that comes with knowing that their information is secure. We protect information using strong and secure encryption and authentication and monitor for fraud and suspicious activity.

• Develop a strong password that:
  • Contains 10 or more characters, including numbers, letters and special characters
  • Is different from passwords you use for other accounts or apps
  • Doesn’t reference your birthday, street address, family member names, social media handles or number sequences (such as 1111)
• Don’t share your password with anyone else
• Use the biometric/fingerprint login feature
• Log out after each use
• Regularly check your account activity

IRA stands for “individual retirement arrangements” or “individual retirement account.” An IRA is an investing account that you can open yourself to start setting aside money for retirement. Unlike brokerage accounts, IRAs have specific rules for contributions, withdrawals, and tax benefits intended to encourage long-term saving.

Learn more: IRA Q&A

IRAs offer tax advantages that aren’t available with many other methods of investing. These advantages vary depending on which type of IRA you choose.

Learn more: Investor’s guide to retirement planning

With the Plynk app you can invest in both traditional and Roth IRAs.

Learn more: Traditional vs Roth IRAs

There are no fees to open or invest in an IRA on the Plynk app but there is a $125 fee to close out your IRA. Certain funds that you can invest in may charge fees.

Please refer to the IRS website for IRA contribution limits. 

The Plynk app offers crypto trading through Paxos Trust Company, N.A. (Paxos), regulated by the Office of the Comptroller of the Currency. Paxos performs all crypto-related trades through the Plynk app and serves as your "custodian" for all crypto assets.

If you choose to open a Paxos crypto account through the Plynk app, you agree to your information being shared with Paxos in order for Paxos to create an account in your name. You will be required to sign Paxos' Customer Terms and Conditions.