How to open a brokerage account for children

If parents want to teach their children how to invest in practice, or, say, give them an Apple share instead of an iPhone for their birthday, they have two options: give them the opportunity to buy securities on one of their accounts or open an account in the name of the child. We will tell you which of the largest brokers allows you to create a child account and on what conditions.

Children can make transactions on their own, including through a brokerage account, only from the age of 14. But for this, the broker needs to obtain written consent from the parents, adoptive parents or guardians (

Here you need to take into account that brokers have the right to open children’s accounts, but they are not required to do so. In addition, they can prescribe their own additional conditions. We interviewed

What documents are needed

It is possible to open an account for a client between the ages of 14 and 18 with the permission of parents and guardianship authorities. This requires the following documents:

What operations are available and what are the restrictions

All operations on a brokerage account can only take place with the written consent of both parents and the guardianship and guardianship authorities: operations to transfer funds to a brokerage account and securities to a depository account and, accordingly, withdraw funds and securities.

But it is possible to issue a one-time «general consent» by legal representatives and guardianship authorities for multiple transactions in the future. In this case, the child will be able to independently manage his account.

How much is

Accounts opened in the name of a child are served at the same rates as

What documents are needed

To open an account you need:

What operations are available and what are the restrictions

All provided operations and withdrawal of money from the account will be available on the account.

You can replenish your account using the service in the client’s «Personal Account» (the first replenishment without commission) or using bank details from accounts in any bank, for example, through the Internet bank. It is allowed to replenish the account in rubles by parents or other individuals, if it is not an IIS.

To withdraw funds, one initial consent is enough, which is signed by the parents of the minor when opening an account.

There are no restrictions when drawing up a complete set of documents, except that an account for a minor can only be opened at the office. Remote discovery is available only to adult citizens.

How much is

The accounts of underage investors are serviced according to the same