Lightspeed Financial Account Types

Lightspeed Financial offers a variety of account types tailored for active traders, including:

• Standard Accounts:
• Support cash, cash and margin, cash and options, margin, margin and options.
• Individual Accounts:
• Owned by a single person.
• Joint Accounts:
• Owned by two or more individuals. Types include:
• Joint Community Property
• Joint Tenants in Common
• Joint with Rights of Survivorship
• Retirement Accounts:
• Traditional IRA, Roth IRA, and SEP IRA.
• Corporate Accounts:
• For businesses to hold funds.
• Trust Accounts:
• Managed by a trustee for beneficiaries.
• LLC Accounts:
• For limited liability companies.
• Institutional Accounts:
• For larger organizations.
• Prime Brokerage Accounts:
• For consolidating trades with one broker for clearing.
• Separately Managed Accounts (SMA):
• Advisory accounts not pooled.
• Cash and Margin Accounts:
• Cash accounts require full cash upfront, while margin accounts allow borrowing against securities.
• Portfolio Margin Accounts:
• Reflect actual risk of the portfolio, allowing increased leverage.

Lightspeed Financial Broker Account Opening Process

To open a broker account with Lightspeed Financial, follow these steps:

• Choose Account Type:
• Decide between individual, joint, retirement, corporate, trust, or LLC accounts based on your needs.
• Complete Application:
• Fill out an online application form on the Lightspeed Financial website.
• Provide Identification:
• Submit necessary documents such as:
• Utility bill or proof of address
• Bank statement
• Notarized ID (passport or driver's license)
• Proof of funds (if required)
• Select Currency:
• Choose the currency for your account.
• Fund Your Account:
• Transfer money to start trading.
• Review and Confirm:
• Check all details before finalizing the account setup.

For more information, visit Lightspeed Financial Account Types.