Investment Account Types – IRAs, Trusts, Business and General Investment Accounts – Scottrade Online Brokerage
Scottrade offers a full line of investment accounts to suit your investing objectives. Most accounts can be opened online, but some require physical forms. Contact your local branch if you need assistance.
Choose the Account Type You Wish to Open
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General Account Types
Individual Account
Standard Brokerage Account for one person. This general investing account may be used to self-manage a diversified portfolio. This account is eligible for margin borrowing, options trading and Money Direct® instant funding. Some services are subject to approval. Apply Now
Joint Account
Standard Brokerage Account for up to three people. This general investing account may be used to self-manage a diversified portfolio. This account is eligible for margin borrowing, options trading and Money Direct® instant funding. Some services are subject to approval. Apply Now
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Retirement Accounts
Traditional IRA
Retirement Savings Account for one person. This investment savings account provides tax-deferred growth and potentially tax-deductible contributions. This account is eligible for Money Direct® instant funding. At least one beneficiary must be assigned when opening this account. Apply Now
Roth IRA
Retirement Savings Account for one person. This investment savings account provides potential tax-free withdrawals after a certain retirement age as defined by current laws. This account is eligible for Money Direct® instant funding. At least one beneficiary must be assigned when opening this account. Apply Now
Rollover IRA
Retirement Savings Account for one person. This investment savings account is specifically designed to receive transfers from a previous retirement plan. This account is eligible for Money Direct® instant funding. At least one beneficiary must be assigned when opening this account. Apply Now
SEP IRA
Simplified Employee Pension Account for self-employed and small business. Please consult your accountant for the tax advantages associated with this account. This account is eligible for Money Direct® instant funding. Apply Now
SIMPLE IRA
SIMPLE Account for self-employed and small businesses. Please consult your accountant for the tax advantages associated with this account. This account is eligible for Money Direct® instant funding. Apply Now
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Custodial/Guardian Accounts
Coverdell Education Savings Account
This Educational Savings Account (ESA) has tax-deferred earnings for qualified education expenses. This investment savings account may be used to provide for the primary, secondary or college education costs of one designated beneficiary. Only special needs beneficiaries may receive contributions after age 18. Apply Now
Guardianship
Allows a court-appointed guardian to manage the assets for the benefit of another. A Letter of Court Appointment (dated within 12 months) is required to open this account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Conservatorship
Allows a court-appointed Conservator to manage the assets for the benefit of another. A Letter of Court Appointment (dated within 12 months) is required to open this account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
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Specialty Accounts
Trust Account (Testamentary)
Securities are registered in the name of the trust and managed by a trustee for the benefit of another person(s). A Trust Account Certification is required to open this account. A testamentary trust is any trust that arises on death through a will. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Trust Account (Non-Testamentary)
Securities are registered in the name of the trust and managed by a trustee for the benefit of another person(s). A Trust Account Certification is required to open this account. A testamentary trust is a trust that is created through the will of a deceased person. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Keogh / 401(k) / Money Purchase / Profit Sharing / Pension Plan
Defined Benefit plans designed for the employees of a company. A Qualified Plan Certification Form is required to open this account. Additional forms may also be required. Apply Now
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Business Accounts
Investment Club
A brokerage account that is owned by a group of people who pool their assets and make joint investment decisions. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Corporate
A business account for Corporations. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Partnership / Limited Partnership
A business account for Partnerships and Limited Partnerships. Only General Partners can trade in a Limited Partnership Account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now
Sole Proprietorship
A business account for a natural person doing business in his/her own name. Supporting documentation will be required for this account. Apply Now
Limited Liability Company (LLC)
A business account for Limited Liability Corporations. Supporting documentation will be required to apply for this account. Apply Now
Association or Non-Profit Organization
A business account for Associations and Non-Profit organizations. Supporting documentation will be required to apply for this account. Apply Now
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