For the first time, teenagers between the ages of 13-17 can trade most US stocks, ETFs, and mutual funds with a Fidelity Youth Account. Teens will be eligible to receive a free debit card and will have no subscription fees, account fees, no minimum balances, and no domestic ATM fees.
What to Know
Parents or guardians who has an account with Fidelity are the only ones able to open the Fidelity Youth Account for the teen. Parents will have the ability to view and monitor debit card transactions, monthly statements, trade confirmations, and account activity online. Parents will also receive notifications & alerts of any transactions and trades made by the teen. Once the teen turns 18 years young, the account will transition to a standard retail brokerage account and will not need supervision.
What's Next?
Download the Fidelity app and begin investing. At some point we all wish someone told us to invest as a teenager or even learn the basic principles. Now is the time we inform the younger generation to start investing and parents will have the responsibility to influence their children.
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