A trading account is essentially used to facilitate transactions such as stock trading, mutual fund investments and more. It can also keep a track of cash, securities, foreign currency and other transactions. It is typically used by traders to speculate about the movements of the assets, with an expectation of a decent profit. In a trading account, only direct expenses and revenue are considered. Direct expenses are considered on its debit side, while direct revenue is considered on its credit end.
An investor can open multiple trading accounts with different brokers for several purposes. Some of the most popular reasons why traders tend to use their trading accounts are-
A trading account can offer varying features depending on where you open the account. Brokers are generally categorized as either traditional or budget brokers.
Budget brokers or discount trading accounts are unlikely to dump a whole lot of confusing add-on services on the customer. They, however, do deliver more value on a smaller budget. Discount brokers are ideal for value-conscious investors who trust their own judgment and research. Discount brokers charge a minimal commission for their services and are rapidly gaining in popularity all over the globe.
Both kinds of brokers, however, are likely to offer you features such as margin trading, which allows traders to leverage their cash and trade in much larger volumes than their cash would allow.
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Trading Account
