| Account Type | Description |
| Individual / Sole Proprietorship | Individual Account Assets held in an individual account are owned and may be used only by you. Sole Proprietorship The account is registered to a business with a single owner who is, in effect, the business. The sole proprietor owns and controls all of the assets in the account. If the individual or sole proprietor dies, the account assets pass to his or her personal estate. |
Joint Account
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Joint account is used if you'd like to trade with a friend or spouse. There are two types of Joint Accounts: Tenants-in-Common If one of the account owners dies, interest and control of that person's share of the assets passes to his or her estate. Thus, if something were to happen to you, your share of the account would pass to the person or persons you've specified in your will. Right of Survivorship If one of the accountholders dies, total interest and control of his or her share of the assets passes immediately to the surviving account holder. |
Corporate Account
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A corporate account is owned and registered in the name of a chartered Corporation or limited liability company (LLC). To open a corporate account, the organization will need to submit a corporate resolution that approves the opening of the account (click here for Corporate Resolution template) and designates the employees authorized to act on behalf of the company (click here for Limited Power of Attorney template). |
| Partnership Account | This account type can be used for: Formal Partnership Partnership Resolution and federal tax ID number are Required. To open this type of account, the formal partnership must submit a copy of its Partnership Resolution, and only the general partner(s) need sign the account application. Informal Partnership An informal group of individuals - the account would be registered in the name of the partnership itself. Every individual participating in the account must sign the application. |
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