What are the different types of accounts available at TD Ameritrade?

TD Ameritrade offers a variety of account types to cater to the diverse needs of its clients. Each account type has its own features and benefits, allowing investors to choose the one that aligns with their financial goals and investment strategies. One of the most common account types is the Individual Brokerage Account. This account allows investors to buy and sell a wide range of investments, including stocks, bonds, mutual funds, and exchange-traded funds. It is a straightforward account type suitable for most investors. For those looking to save specifically for retirement, TD Ameritrade offers Individual Retirement Accounts, commonly known as IRAs. Within this category, there are Traditional IRAs, Roth IRAs, and Rollover IRAs. A Traditional IRA allows for tax-deductible contributions, while a Roth IRA provides the advantage of tax-free withdrawals in retirement. A Rollover IRA is intended for individuals who are transferring funds from a qualified retirement plan. In addition to these, TD Ameritrade provides custodial accounts, which are designed for minors and managed by an adult until the child reaches the age of majority. This type of account can help young investors start building wealth early. Moreover, TD Ameritrade offers specialized accounts for entities like corporations, partnerships, and trusts, which serve the investment needs of businesses or estate planning purposes. For active traders, there are margin accounts that allow borrowing against your investments for trading leverage. These accounts come with certain risks and specific requirements. Lastly, for clients seeking an automated approach, TD Ameritrade offers a managed portfolio service, where investment professionals manage the investor's portfolio based on their risk tolerance and investment objectives. For more detailed information regarding each account type, including eligibility and requirements, you may want to visit the current TD Ameritrade website, which provides comprehensive resources and contact information.