Time is a crucial component of investing, playing a fundamental role in determining the potential for both risk and reward in a portfolio — which highlights the importance of starting investing early.
Whether you’re a parent or guardian investing on behalf of a minor or you have a working kid saving for retirement, the first step is opening an account, and choosing the right brokerage can make all the difference.
The following is a list of brokers that offer teen brokerage accounts, UGMA/UTMA accounts and custodial IRAs. We’ve included both self-direct and automated account options. As a baseline, none of the providers listed charge commissions for trading stocks and exchange-traded funds (ETFs).
15+ online brokers reviewed and rated by our team of experts
Evaluated under our unbiased rating system covering eight categories
20+ years of combined experience covering financial topics
We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.
Greenlight's easy-to-use platform simplifies investing for both parents and kids, offering access to the stock market with fractional shares of over 4,000 stocks and ETFs, starting with as little as $1. The platform also includes educational resources like blogs and financial literacy games, all with zero trading fees.
Investment accounts are held in the parent's name, allowing kids to research stocks and request buy or sell orders using their Cash to Invest balances, with parents maintaining full control by approving every trade.
Minimum deposit
$0
Signup bonus
N/A
Greenlight's easy-to-use platform simplifies investing for both parents and kids, offering access to the stock market with fractional shares of over 4,000 stocks and ETFs, starting with as little as $1. The platform also includes educational resources like blogs and financial literacy games, all with zero trading fees.
Investment accounts are held in the parent's name, allowing kids to research stocks and request buy or sell orders using their Cash to Invest balances, with parents maintaining full control by approving every trade.
Pros
Beginner-friendly platform
Educational resources
No trading fees
Cons
Requires a Greenlight Max ($9.98/mo) or Greenlight Infinity ($14.98/mo) plan
Interactive Brokers caters to investors of all experience levels with a broad range of investment options and versatile trading platforms for its UGMA/UTMA accounts. For beginners, the IBKR GlobalTrader and IMPACT mobile platforms offer a straightforward investing experience. In contrast, advanced traders benefit from the powerful tools available in IBKR and Trader Workstation, including interactive charts with over 90 indicators, analyst ratings, price targets and detailed company financials.
Trade commission-free stocks, options and ETFs, with additional access to precious metals, futures and more.
Best for: Active trading; global market access; wide range of investment options; robust trading platforms; alternative investments.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
N/A
Interactive Brokers caters to investors of all experience levels with a broad range of investment options and versatile trading platforms for its UGMA/UTMA accounts. For beginners, the IBKR GlobalTrader and IMPACT mobile platforms offer a straightforward investing experience. In contrast, advanced traders benefit from the powerful tools available in IBKR and Trader Workstation, including interactive charts with over 90 indicators, analyst ratings, price targets and detailed company financials.
Trade commission-free stocks, options and ETFs, with additional access to precious metals, futures and more.
Best for: Active trading; global market access; wide range of investment options; robust trading platforms; alternative investments.
M1 Finance's intuitive platform, zero trading fees and automated investing features make it an excellent option for beginners looking for a UGMA/UTMA account.
Build customized portfolios with fractional shares, using M1's 'pie' investing feature to allocate funds across commission-free stocks and ETFs according to your goals.
Best for: Commission-free trading; beginning investors; automated investing.
Stock trade fee
$0
Minimum deposit
$100
Signup bonus
N/A
M1 Finance's intuitive platform, zero trading fees and automated investing features make it an excellent option for beginners looking for a UGMA/UTMA account.
Build customized portfolios with fractional shares, using M1's 'pie' investing feature to allocate funds across commission-free stocks and ETFs according to your goals.
Best for: Commission-free trading; beginning investors; automated investing.
Pros
Commission-free stocks and ETFs
Automated investing
Cons
No custodial IRAs
$3 monthly platform fee if assets are under $10,000
M1 Finance, LLC does not charge commission, trading, or management fees for self-directed brokerage accounts. You may still be charged other fees such as M1’s platform fee, regulatory fees, account closure fees, or ADR fees. For a complete list of fees M1 may charge visit M1 Fee Schedule. M1 is not a bank. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc.. M1 High –Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC. Obtaining stated APY (annual percentage yield) with the M1 High-Yield Savings Account does not require a minimum account balance. Stated APY is accrued on account balance. APY is solely determined by M1 Spend LLC and its partner banks, and will include account fees that will reduce earnings. Rates are subject to change without notice. M1 High-Yield Savings Account is a separate offering from, and not linked to, the M1 High-Yield Cash Account offered by M1 Finance, LLC. M1 is not a bank.
Stash stands out for its low-cost entry, educational resources and easy-to-use platform. With the ability to start investing for yourself and your children with just $5, Stash makes the market accessible to beginners.
Invest in commission-free stocks and ETFs in a Stash UGMA/UTMA account, with fractional shares, curated investment options, automated investing and individual stock trading.
Best for: Beginning investors; commission-free stocks and ETFs; automated investing.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get $10 when you sign up and deposit $5
Stash stands out for its low-cost entry, educational resources and easy-to-use platform. With the ability to start investing for yourself and your children with just $5, Stash makes the market accessible to beginners.
Invest in commission-free stocks and ETFs in a Stash UGMA/UTMA account, with fractional shares, curated investment options, automated investing and individual stock trading.
Best for: Beginning investors; commission-free stocks and ETFs; automated investing.
Pros
Commission-free stocks and ETFs
Robo-advisor
Self-directed trading
Cons
Custodial accounts available on the $9/month Stash+ plan
Fidelity's kid-focused investing accounts include UGMA/UTMA accounts, custodial IRAs, college savings plans and a teen-owned brokerage account. Unlike adult-controlled UGMA/UTMA accounts, the Fidelity Youth Account is owned and managed by teens aged 13 to 17. The account lets teens save and invest in stocks, ETFs and Fidelity mutual funds with as little as $1 and no minimum deposit requirements.
Additionally, users get access to top-tier research, trading and planning tools, low fees, educational resources, 24/7 customer support and financial advisors.
Best for: Teen-owned accounts; range of investment options; low costs; research and planning tools.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
N/A
Fidelity's kid-focused investing accounts include UGMA/UTMA accounts, custodial IRAs, college savings plans and a teen-owned brokerage account. Unlike adult-controlled UGMA/UTMA accounts, the Fidelity Youth Account is owned and managed by teens aged 13 to 17. The account lets teens save and invest in stocks, ETFs and Fidelity mutual funds with as little as $1 and no minimum deposit requirements.
Additionally, users get access to top-tier research, trading and planning tools, low fees, educational resources, 24/7 customer support and financial advisors.
Best for: Teen-owned accounts; range of investment options; low costs; research and planning tools.
Pros
Commission-free stocks, options, ETFs and Fidelity funds
Range of account types, including a teen-owned brokerage account
A pioneer of online trading, E*TRADE offers a wide range of investment options and account types, including UGMA/UTMA accounts, custodial IRAs and Coverdell Education Savings Accounts.
Trade commission-free stocks, ETFs, mutual funds and options, along with futures, bonds and CDs. E*TRADE also offers a robo-advisor for a straightforward, automated portfolio option, making it an ideal platform for both novice and experienced investors seeking a diverse range of investing tools and services.
Best for: Active trading; automated investing; robust trading platforms; research and analysis.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to $1,000 terms apply
A pioneer of online trading, E*TRADE offers a wide range of investment options and account types, including UGMA/UTMA accounts, custodial IRAs and Coverdell Education Savings Accounts.
Trade commission-free stocks, ETFs, mutual funds and options, along with futures, bonds and CDs. E*TRADE also offers a robo-advisor for a straightforward, automated portfolio option, making it an ideal platform for both novice and experienced investors seeking a diverse range of investing tools and services.
Best for: Active trading; automated investing; robust trading platforms; research and analysis.
Pros
Commission-free stocks, options, ETFs and mutual funds
Trade commission-free stocks, options, ETFs and Schwab mutual funds while accessing an extensive lineup of investment options and account types, global markets and top-tier research and analysis tools. Schwab offers custodial IRAs, UGMA/UTMA accounts and 529 plans.
Beginner investors will find comprehensive educational content, financial planning and advisory resources, including a robo-advisor and 24/7 customer support. Meanwhile, Schwab's renowned thinkorswim platform empowers advanced traders with elite tools and resources for a sophisticated trading experience.
Best for: Active trading; robust trading platforms; range of investment options and account types; research and planning tools; automated investing; mutual funds.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get a $101 bonus
Trade commission-free stocks, options, ETFs and Schwab mutual funds while accessing an extensive lineup of investment options and account types, global markets and top-tier research and analysis tools. Schwab offers custodial IRAs, UGMA/UTMA accounts and 529 plans.
Beginner investors will find comprehensive educational content, financial planning and advisory resources, including a robo-advisor and 24/7 customer support. Meanwhile, Schwab's renowned thinkorswim platform empowers advanced traders with elite tools and resources for a sophisticated trading experience.
Best for: Active trading; robust trading platforms; range of investment options and account types; research and planning tools; automated investing; mutual funds.
Pros
Commission-free stocks, option, ETFs and Schwab mutual funds
Vanguard offers UGMA/UTMA accounts with no enrollment fees, as well as custodial IRAs and 529 college savings plans.
Self-directed investors can access a wide range of investment options, including stocks, bonds, mutual funds, ETFs, CDs and money market accounts. Additionally, Vanguard provides advisory services for professional portfolio management.
Best for: Commission-free stocks and ETFs; mutual fund investing.
Stock trade fee
$0
Minimum deposit
$50,000
Signup bonus
N/A
Vanguard offers UGMA/UTMA accounts with no enrollment fees, as well as custodial IRAs and 529 college savings plans.
Self-directed investors can access a wide range of investment options, including stocks, bonds, mutual funds, ETFs, CDs and money market accounts. Additionally, Vanguard provides advisory services for professional portfolio management.
Best for: Commission-free stocks and ETFs; mutual fund investing.
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Methodology: How we choose the best investing apps for teens
Finder’s investment experts reviewed 18 brokers available on the market to narrow down the best investing apps for minors.
We analyzed each platform based on 147 key metrics collected directly from brokers and assessed each provider’s performance across eight categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then scored and ranked each provider to determine the 10 best brokerage accounts and the best overall. Only brokers that offer commission-free stocks and ETFs made the list.
We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.
How we weigh the overall rating
Category
Weighting
Investment options
15%
Trading platforms and technology
15%
Trading costs
10%
Account fees
15%
Account types and minimums
10%
Customer support
10%
Mobile app
5%
Features and amenities
20%
How do I open an investing account for a teen?
Choose a broker or robo-advisor and complete a brief application by providing personal information such as your name, address, date of birth and Social Security number. You will also need the minor’s personal information.
Completed applications are typically approved instantly, although the broker may take a few days to verify your information. Then, connect a bank account to fund your brokerage account.
What to look for when choosing the best investing app for teens
Finder’s picks on this page are intended to provide a starting point for finding the right custodial accounts that align with your investing style and goals.
Consider the following factors when comparing your options:
Fees. From trading fees to miscellaneous fees, it’s important to understand the cost of trading and investing. Consider which investment products you plan to trade and the fees that apply, but also be mindful of back-end fees, such as inactivity or transfer fees, which can also eat into your profit.
Tradable assets. Not every broker offers the same investment options. Stocks, options and ETFs are standard, but some brokers also offer mutual funds, bonds, futures, forex, crypto and more.
Account types. Custodial IRAs and Uniform Gifts to Minors Act (UGMA)/Uniform Transfers to Minors Act (UTMA) accounts are common investment accounts for kids. Education savings plans are another option if you want to save for future education expenses.
Research and data tools. In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. If you’re a passive index investor, extensive research and analysis tools may be as crucial. Active stock pickers may feel otherwise.
Mobile app reviews. Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current and former customers say about the platform’s functionality.
Signup bonus. While choosing a broker solely for its signup bonus isn’t the best strategy, a new customer incentive such as a free stock could sway your decision if all other factors are equal.
How old do you have to be to invest in stocks?
To invest in stocks, you typically need to be at least 18 years old, as this is the legal age to open a brokerage account in most states.
However, teens under 18 can invest in stocks through custodial accounts, which a parent or guardian opens and manages on behalf of the minor. These accounts, such as UGMA or UTMA, allow teens to start investing early, with the account eventually transferring ownership to the teen once they reach the age of majority — usually 18 or 21, depending on the state.
Additionally, some investment apps offer teen-specific accounts, which give young investors a chance to learn about stocks and manage their own portfolios under adult supervision. The Fidelity Youth is a teen-owned brokerage account that lets teens ages 13–17 invest on their own.
Compare and find the broker that's right for you
Match your experience level with your trading and investing goals to find the right broker for you.
If you're a
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Beginner investor
Do most or all of your trading on your mobile device
How much does it cost to open a brokerage account?
Most platforms don’t charge fees to open an account. However, you’ll need to fund your account before you can begin investing.
Who owns the assets in a custodial account?
The parent, guardian or adult controls the account and manages its assets until the minor legally becomes an adult, which is 18 years old in most states.
Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions.
Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio
Matt's expertise
Matt has written 207 Finder guides across topics including:
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
