Are there any ways to get around any restrictions of trading stocks under age?
2006-10-24 15:16:41 · 6 answers · asked by bradleyxwright 2 in Business & Finance ➔ Investing
You have to be 18. There is no way around it, if a broker opened an account for you before your 18th birthday they would be prosecuted by the regulator.
It is possible to be the second name on an account before your 18 birthday, but you would have no legal control over the shares. All buying and selling would have to be done by the adult and you would have no legal right to make any changes to the account.
Sorry.
2006-10-25 04:34:33 · answer #1 · answered by popeleo5th 5 · 0⤊ 0⤋
You may buy, sell, and trade stocks at any age what you can't do is be bound by contract, unless you are an adult. So as long as you don't try and sign any contracts you're fine. You may need your guardian to set up any accounts that you use. Buying short or selling long would both be contractual and not available to you.
2006-10-24 15:27:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A brokerage like Scottrade probably won't let you open an account if you're under 18. But you may be able put your investment capital in a trust, and have the trustee open the account.
2006-10-24 15:20:43 · answer #3 · answered by M W 1 · 1⤊ 0⤋
I have read of an 11 year old making his first $100,000.00 in 3 years. He started when he was 11.
2006-10-24 15:26:40 · answer #4 · answered by mrcricket1932 6 · 0⤊ 0⤋
No. Get someone else to trade on your behalf
2006-10-24 15:18:56 · answer #5 · answered by f0xymoron 6 · 0⤊ 0⤋
18 and no...you have to be legal to enter into a contract.
2006-10-24 15:19:00 · answer #6 · answered by Judy the Wench 6 · 0⤊ 0⤋