Are there any online sites where I can set up an account to buy stocks, bonds, notes, ect. if I am under 18. I would like to do this without having to pay too much for commissions and what not, and don't want to have my parents name on the account because I am planning on using money that they don't know about.
2007-01-04 06:05:26 · 4 answers · asked by Michael 2 in Business & Finance ➔ Investing
Unfortunately, you're out of luck, because no reputable brokerage will set up an account for you without an of-age legal guardian's name on there, at least as a custodian on a UTMA account. An adult will have to know what you're up to in this case... Sorry, yet another thing that stinks when you're young...
2007-01-04 06:11:06 · answer #1 · answered by morlock825 4 · 0⤊ 1⤋
You'll have to turn 18 or get a signature from your guardian.
At Scottrade, you only need $500 to open an account.
The commision is only $7 for any type of order.
2007-01-07 16:34:57 · answer #2 · answered by sis79 2 · 1⤊ 0⤋
you maybe able to do that, but an adult will have to be on the account.........call scottrade and ask them if they will let you do that. you can have mutual funds in your name with an adult, so I don't see why you can't do it with a stock account....great way for you to learn about the stock marker.....be careful....it is very hard to make money....but you will learn that quickly
2007-01-04 06:13:57 · answer #3 · answered by besthusbandever 4 · 0⤊ 1⤋
You can use one of my accounts until you are 18.
2007-01-04 09:07:55 · answer #4 · answered by Anonymous · 1⤊ 3⤋