Final answer:
A trust account is a separate account that brokers are required by law to deposit all funds collected for clients. It provides protection and ensures that client funds are not mixed with a broker's own funds.
Step-by-step explanation:
The account described in the question is referred to as a trust account. A trust account is a separate account that is required by law for brokers to deposit all funds collected for clients. It provides protection and ensures that client funds are not mixed with a broker's own funds. Brokers are legally obligated to handle these funds responsibly and only use them for the benefit of their clients.