what are discretionary accounts
Definition of DISCRETIONARY ACCOUNT. : a security or commodity market account in which an agent (as a broker) is given power of attorney so as to be able to make independent decisions and buy and sell for the principal's account.ADVERTISEMENT.efinition of DISCRETIONARY ACCOUNT. : a security or commodity market account in which an agent (as a broker) is given power of attorney so as to be able to make independent decisions and buy and sell for the principal's account. ADVERTISEMENT.