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How to invest in the stock market when under 18 years old?
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12-16-2012, 08:50 AM
Post: #2
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In North America, you must be 18 years of age to open an account with a brokerage firm, this covered under both contract law and securities law.
You need a parent to open a custodian account in your name using your social security number. When you turn 18, the assets in the account can be moved to an account in your own name. Legally, the custodian on the account should enter all transaction for the account. I started when I was 11 using a custodian account, invested in grade and started trading while in high school and part of college using the custodian account. If you're going to play in the game, play by the rules STOCKTRADER- as a minor you can NOT have a joint account with a parent and/or guardian. Ads |
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Messages In This Thread |
How to invest in the stock market when under 18 years old? - Paul - 12-16-2012, 08:42 AM
[] - A nobody - 12-16-2012 08:50 AM
[] - EndlessMountain - 12-16-2012, 08:50 AM
[] - Stock Trader - 12-16-2012, 08:50 AM
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