Types: Oil and Acrylic/Latex
Trim paint comes in two main varieties, oil-based and acrylic-latex:
In a sense, this is the classic trim paint. If you have a house that is at least a few decades old, chances are good that the trim was painted with oil-based paint.
Oil-based trim paint gives superior, glass-like finishes, with minimal-to-zero brush marks, but at the cost of slow drying times, fumes, and solvent-based clean-up requirements. Because of its thick consistency, it’s good at filling in minor holes. Due to laws passed beginning around 2000, many localities now ban oil-based paints in sizes above quarts. Only use a brush with natural bristles, as the oil formula will affect synthetic bristles.
Oil-based paint can be difficult to use, especially since you must use petroleum-based solvents to clean up afterward.
Acrylic Latex or Enamel
Water-based paint can produce a good finish and minimal brush marks, but not nearly as good as oil-based paint’s properties. Brush marks will be visible. The surface will not have the rock-hard shell texture of oil-based paints.
Water-based trim paints afford easy clean-up with soap and water. Use either synthetic or natural bristle brush. Use a paint comb to aid in clean-up.
Source: The Spruce