A standard brokerage account is a taxable investment account that will allow you to deposit and hold cash to buy various investments like stocks, bonds, money markets, mutual funds, index funds, or ETFs.
Cash and Margin AccountsA margin account requires an investor to have cash for liquidity. When you buy securities on margin, you borrow money from your brokerage firm to purchase securities or short selling. These strategies carry high risks.
Self-Directed Account or Financial AdvisorLonger term, investors may want access to a financial advisor. A financial advisor can help investors build an investment portfolio for their short-term and long-term financial goals and tax optimization strategies.