Question:

Is a brokerage account for your stocks much like an account at a bank like a checking or savings?

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or how is it different, can you use it like a checking account?

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2 ANSWERS


  1. I hope you are asking about a demat account which will have details about your buy and sell of shares. It is not like checking account. It will have your buy sell listings and transactions


  2. My Scottstrade account comes with a checkbook and a debit card.  HOWEVER - it is not a bank.  They do not handle cash at their branches and the rules are different, for example if you deposit a check, the money is not in the account for 3 days - just like settled funds from a stock transaction. You can set up direct deposits.

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