Manhattan Account Type

Manhattan offers various types of brokerage accounts suitable for different investment strategies and goals. The primary account types include:

• Taxable Brokerage Accounts: These accounts allow investors to buy and sell a wide range of securities, including stocks, bonds, ETFs, and mutual funds. They do not provide tax-deferred growth, but investors can access their funds at any time without penalties. Earnings are taxed in the year they are realized, with capital gains taxed at favorable rates.

• Retirement Accounts: These include traditional IRAs and Roth IRAs, which provide tax advantages for retirement savings. Contributions to traditional IRAs may be tax-deductible, while withdrawals from Roth IRAs are tax-free in retirement.

• Cash Accounts: In cash accounts, investors can only trade with the funds they have deposited. This type of account is suitable for beginners who prefer to avoid the risks associated with margin trading.

• Margin Accounts: These accounts allow investors to borrow money from the brokerage to purchase securities, enabling them to leverage their investments. However, they come with higher risks, including margin calls.

Manhattan Broker Account Opening Process

Opening a brokerage account with Manhattan involves a straightforward process:

• Choose Account Type: Decide whether you want a taxable brokerage account, retirement account, cash account, or margin account based on your investment needs.

• Complete Application: You can apply online through Manhattans website. The application will require personal information such as:

• Full name
• Social Security number
• Address
• Employment information
• Financial status

• Provide Identification: You may need to submit identification documents to verify your identity as per regulatory requirements.

• Fund Your Account: After your application is approved, you can fund your account through various methods, including electronic transfer from a bank account, wire transfer, or check.

• Start Investing: Once your account is funded, you can begin trading by selecting the investments that align with your strategy.

For more details, visit Manhattan's official website.