Brokerage

Brokerage trading platforms are generally used to monitor trading markets and help facilitate transactions. The brokerage can be managed by the owner or they can also have a financial institution acting on their behalf. 

Money can be moved in and out of a brokerage account which can be a traditional bank account and is taxable when earnings have accrued. These accounts have access to a wide range of investment opportunities unlike a regular bank account.

Human brokers and advisors, Self-directed online accounts and Robo-advisors are three main brokerage types. Stocks, Bonds, Mutual funds and Exchange-traded funds (EFTs) are the most common types of investment that can be held in a brokerage account.

A growing portfolio can be managed well with a brokerage. There is no limit to how many investments a portfolio contains with brokerages. More flexibility is there than other investments and is easier to manage.

Deciding on brokerage type, reviewing fees and minimum balance requirements, looking at both long and short-term investments and review investments at least once a year some of the best practices for brokerages.