How many accounts do I need to trade Stocks. Future contracts, Cryptocurrencies, Forex, Etc.?
How many accounts do I need to trade Stocks. Future contracts, Cryptocurrencies, Forex, Etc.?
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user109157 · External communityPost link
External question — Personal Finance Stack Exchange
Author: user109157
Original post: https://money.stackexchange.com/questions/141736
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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I am a new comer in the US and I want to start my investment here. But the first question is how many brokerage accounts do I need if I want to do and manage the investment on all of the markets? In our country we must have separate accounts in some different brokerage if we want to invest and work on all of them. What about the US?
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William Walker III · External communityPost link
External answer — Personal Finance Stack Exchange
Author: William Walker III
Original post: https://money.stackexchange.com/a/141741
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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Without going into the details of every possible way to invest money, the answer is going to depend on which brokers/service providers you do business with. Some brokerages offer accounts that let you invest in multiple types of product, or let you have multiple accounts under a single customer identity with good UI design that makes this feel almost the same thing.
The best bet is to talk to a professional financial advisor. If you have the wherewithal to be investing in so many different vehicles, you will likely need (or at least strongly desire) to have some professionals helping you with taxes, legal issues, etc.
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MonkeyZeus · External communityPost link
External answer — Personal Finance Stack Exchange
Author: MonkeyZeus
Original post: https://money.stackexchange.com/a/141742
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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There is no magic number of required brokerage accounts.
You sign up for an account on an as-needed basis and your decision will usually boil down to asking these questions:
Do I like their interface?
Do they offer me enough choices?
Investment options: stocks, mutual funds, bonds, crypto, etc...
Account types: daytrading, Roths, IRAs, 529s, etc...
Which extended hours exchanges do they support?
One thing you absolutely shouldn't do is invest in the same stock across multiple platforms unless you want your taxes to get really messy, really fast.
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Quoted from Forex.com.bd-Editorial External answer — Personal Finance Stack Exchange Author: William Walker III Source score (net votes, not local likes): 2 Original post: https://money.stackexchange.com/a/141741 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. Without going into the details of every possible way to invest money, the answer is going to depend on which brokers/service providers you do business with. Some brokerages offer accounts that let you invest in multiple types of product, or let you have multiple accounts under a single customer identity with good UI design that makes this feel almost the same thing. The best bet is to talk to a professional financial advisor. If you have the wherewithal to be investing in so many different vehicles, you will likely need (or at least strongly desire) to have some professionals helping you with taxes, legal issues, etc.
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