Answer: Yes, but..the minor will need a parent/guardian to create the account with them.

Questions:

1. Why do you think there’s an age requirement in order to create a brokerage account?
2. Do you think it is a good idea to open a brokerage account now? Explain your answer.
3. How could you convince your parents/guardians that they should help you open a brokerage account? What would be your most compelling point?

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Behind the numbers (from Investopedia):

An underage person cannot open a brokerage account on his or her own. However, it is possible for an underage person to have a brokerage account with his or her own name attached to it. But to accomplish this, a parent or guardian must also be involved with the account.

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About the Author

Danielle Bautista

Danielle is a native of Southern California and a recent graduate from the University of Maine, where she braved the frigid winters—a feat in and of itself—and earned her Bachelor's degree in International Affairs. She has a passion for working with non-profit organizations and serving populations in underprivileged communities. When Danielle isn't writing NGPF blog posts, spearheading various outreach projects, or managing contests and flash surveys, you can find her doing some sort of outdoor activity, learning a new hobby, or cracking what she thinks are witty puns!

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