brokerage account

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Brokerage Account

Definition:
A brokerage account is a type of financial account that you open with a brokerage firm. This account allows you to buy and sell different types of investments, like stocks, bonds, and mutual funds. To open a brokerage account, you usually need to deposit a certain amount of money. For example, some brokerages require a minimum of $20,000 to start.

Usage Instructions:

• You can use a brokerage account to invest your money and grow your wealth over time.
• It is important to understand the fees and terms associated with your brokerage account before using it.

Example Sentence:

"I opened a brokerage account last month so I can start investing in the stock market."

Advanced Usage:

In a more advanced context, you might discuss the different types of brokerage accounts available, such as: - Self-directed brokerage accounts: where you make your own investment decisions. - Managed brokerage accounts: where a professional manages your investments for you.

Word Variants:

• Broker: The person or firm that facilitates the buying and selling of investments.
• Brokerage: The firm that provides services for buying and selling securities.

Different Meanings:

• In a general sense, "brokerage" can also refer to the business of buying and selling financial instruments.

Synonyms:

• Investment account
• Trading account

Idioms and Phrasal Verbs:

While there aren't specific idioms or phrasal verbs that relate directly to "brokerage account," you might hear phrases like: - "Put your money to work": This means to invest your money in a way that it can earn more money. - "Cash in": To realize a profit by selling an investment.

Summary:

A brokerage account is a key tool for anyone looking to invest in the financial markets.

Academic

Noun

1. a fund that a customer has entrusted to a securities brokerage
   • you can't get a brokerage account unless you have $20,000