Individual accounts are trading accounts held in the name of one person. Individual trading accounts allow the user to grow their personal capital through trading. It is important to note that deposits will only be accepted from the account holder's name, any third-party deposits will not be accepted.
Joint accounts are trading accounts that are opened by two individuals for the purpose of managing shared funds. Joint accounts are most commonly used by partners, close relatives and business partners. Before opening a joint account, please ensure a joint bank account has been established in the name of both applicants.
A corporation is a legal entity that is considered to be separate from the beneficial shareholders. Individuals may consider corporate structures due to the limited personal liability, access to capital and the corporate tax structure. Corporate trading accounts are designed for business entities looking to grow their capital through trading financial products.
A trust is an entity structure that has been established to provide legal protection for the assets that are held in the trust’s name. Furthermore, Trust structures ensure the assets held are distributed to the beneficiaries in accordance with the rules of the trust.
Refers to the individual(s) that are appointed to direct the investments of the trust. The trustee(s) are given control and powers over the property held by the Trust with an obligation to act in accordance with the rules of the Trust.
E.g., John Smith ATF The Smith Family Trust
Refers to the corporate or business entity that has been appointed to direct the investments of the trust. The corporate trustee is given control and powers over the property held by the Trust with an obligation to act in accordance with the rules of the Trust.
E.g., JPS Pty Ltd ATF The Smith Family Trust
Source - database | Page ID - 19676