The custodian can take the hold of account and when the kids become older than 18 they can take charge of their account. How to invest if you are under 18.
Minor accounts are offered at most brokerage firms including td ameritrade charles schwab and firstrade.
How to invest in stocks under 18. The person that opens the account known as the custodian controls the account on your behalf. Ask parental consent or guidance. Well there is a way you can invest in stocks while under 18.
To start investing with the stock market if you are under age 18 a custodial account must be opened by the child s parent or guardian. With a custodial account any parent friend or relative can open a custodial brokerage account for a minor. Yes there are children under 18 who are investings in stocks.
Custodial accounts can be opened easily in most of the cases. The option of custodial accounts is much better for youngsters. Ask your parents to open an investment account for you.
For parents you need to bring your child birth certificate or any legal documents as a proof of being a parent of the child. Your parents is your custodian since you are under 18 so ask for guidance and consent. So it is very easy for young ones to invest in stocks even if they are under 18.