Account Types

Standard, Corporate and IRA

GlobalVest currently offers the following account types:

Account Types Apply Online Download Forms
Standard Accounts
There is only one beneficial owner. Only one person under one Social Security number can control the investments within the account and request distributions of cash or securities from the account.
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Joint (Tenants in Common)
Stipulates that a deceased tenant’s fractional interest in the account is retained by that tenant’s estate and is not passed on to the surviving tenant(s), if any.
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Joint (Rights of Survivorship)
Stipulates that a deceased tenant's interest in the account passes on to the surviving tenant(s), if any.
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Corporate & Special Investing Accounts
Limited Liability Corporation (LLC)
A business structure that encompasses a hybrid of corporate and partnership attributes. A LLC provides protection from personal liabilities like a corporation with the tax advantages of a partnership.
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Is held in the legal name of a corporation. The corporate agreement, signed when the account is opened, specifies which officers are authorized to trade in the account. This form must be completed in full, including the names of the president, vice president, treasurer and secretary. If one person makes up the entire corporation, that person is to sign for all positions.
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General Partnership and Limited Partnership
The general partnership and limited partnership are very similar. The general partnership is an association of two or more entities formed to conduct a business jointly. The general partners are jointly and severally liable for the partnership's liabilities. The limited partnership is an association of two or more partners formed to conduct a business jointly and in which one or more of the partners is liable only to the extent of the amount of money they have invested.
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Trust Account
A fiduciary relationship in which a person (the trustee) holds the title to property for benefit of another party(s).
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Sole Proprietorship
A form of business organization in which a single owner has total control over the business, makes all managerial decisions and is personally liable for all debts of the business.
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Investment Club Cash Account
An investment club is a group of like-minded people, interested in investing in the stock market. They agree to a few basic investing goals and principles. The name of the partnership must be provided. The trader for the account and the attorney-in-fact for the partnership must sign the form.
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Retirement Accounts
Traditional IRA (U.S. taxpayers only)
A Traditional IRA is a tax-deferred retirement account for an individual that permits individuals to set aside up to $4,000 per year ($4,500 if over 50), with earnings tax-deferred until withdrawals begin at age 59 1/2 or later (or earlier, with a 10% penalty). Only those who do not participate in a pension plan at work or who do participate and meet certain income guidelines can make deductible contributions to an IRA. All others can make contributions to an IRA on a non-deductible basis. Such contributions qualify as a deduction against income earned in that year and interest accumulates tax-deferred until the funds are withdrawn.
Margin trading is not available. Equities and Options trading are available.
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SEP IRA (U.S. taxpayers only)
The SEP-IRA (Simplified Employee Pension Plan) is a retirement plan for small businesses with any number of employees, but typically opened by sole proprietors with no employees. Available to sole proprietors, partnerships, corporations including sub-chapter S corporations, non-profits, and government agencies.
Margin trading is not available. Equities and Options trading are available.
  • Employers make all contributions to plan
  • Contributions are immediately vested
  • Employees direct the investments within their individual SEP-IRAs
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Roth IRA (U.S. taxpayers only)
A Roth IRA is similar to a Traditional IRA. However, while contributions to a Traditional IRA may be tax-deductible and withdrawals are taxed, contributions to a Roth IRA are taxed, but qualified withdrawals are federal tax-free. After a Roth IRA has been in existence for five years, withdrawals are not taxable if, 1) the account owner turns 59½ years old, 2) the withdrawal (up to $10,000) is used for the first-time purchase of a home, 3) the account owner is disabled or 4) the account owner is deceased.
Margin trading is not available. Equities and Options trading are available.
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