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A trading account is held by a financial institution and managed by an investment dealer to run a trading strategy for the account holder. There are different types of trading accounts available, including cash accounts and margin accounts. Getting Started with a Trading Account. When you open a new trading account you will naturally have a Here's your step-by-step process for opening a brokerage account: Determine the type of brokerage account you need. Compare the costs and incentives. Consider the services offered. Decide on a brokerage firm. Fill out the new account application. Fund the account. Start researching investments. Starting a Trading Business. 1. Get educated . Just like in any other profession, you have to understand every piece of the job down to the microscopic details. Think about 2. Build a business plan . Would you go into a bank and ask for a loan to start a restaurant with no business plan? Then you can obtain an EIN # online for IRS.gov and open a trading account under the name of the business. That will separate your trading dollars from your personal dollars. States like Arizona make it pretty easy and cheap to file for an LLC. To open a trading account, follow the below steps: Select a stock broker to open an account with. Ensure that the broker you select takes and executes your orders in the timely manner. Compare services and brokerage rates of different brokers. How to Open a Trading Account. Securities trading can be a financially and mentally rewarding experience, but only if you have the time and tools to properly research each trade. To make these trades, you'll have to work with a licensed A trading account is held by a financial institution and managed by an investment dealer to run a trading strategy for the account holder. There are different types of trading accounts available, including cash accounts and margin accounts. Getting Started with a Trading Account. When you open a new trading account you will naturally have a