An Open Brokerage Account is an account that you can utilize to buy and sell various investments, including stocks, bonds, ETFs and mutual funds among others. When you open an open brokerage account with an online brokerage firm, the online firm usually buys and sells trading assets for you on your behalf in the global marketplace. You are able to conduct your own trading activities in a more hands-on manner when you open a brokerage account.
If you have investments, such as stock, bonds or mutual funds, that you would like to borrow, you will need to provide collateral in order to obtain a loan. In most cases, you will need to provide a first or second mortgage if you are borrowing funds for your retirement. An Open Brokerage Account allows you to use your personal savings as collateral on the brokerage accounts. In order to receive funds from … Read More