If you want to open a brokerage account with real money, here's where I would go.
| Account | Age range | Fees | |
|---|---|---|---|
|
Fidelity Youth Account- My personal favorite & the one I use
Teen-owned and operated. A parent needs a Fidelity account to help oversee it. Converts to a regular brokerage account at 18.
|
Ages 13–17 | $0 min · $0 commissions | Open |
|
Schwab Teen Investor Account
Jointly owned with a parent or guardian. Includes a short investing course that pays out $50 in fractional shares if finished within 45 days.
|
Ages 13–17 | $0 min · $0 commissions | Open |
|
Schwab Custodial Account (UGMA/UTMA)
A parent opens and manages this on a minor's behalf, no age minimum. Control transfers to the minor at age 21
|
Any age | $0 min · $0 commissions | Open |
|
Vanguard Custodial Account (UGMA/UTMA)
Same custodial setup as Schwab's, on Vanguard's fund lineup. $20/yr fee waived by switching to electronic statements.
|
Any age | $0 min · $20/yr | Open |
These are just some of the brokers you could use, and these are the ones i would personally point someone toward. I am not sponsored, and this is not financial advice. I'm not a licensed financial advisor. If you're under the age of 18, You are required to consult with a parent or guardian. Your parents must be involved either way, whether that's a joint account, a custodial account, or just their permission to open one. Please do your own research on brokerage accounts as well.
Fees, age requirements, and account features change over time. Please double check the details directly on the broker's site before opening anything.