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How Old Do You Have To Be To Open an E*TRADE Account?
E*TRADE age requirement limit. How old do you have to be to open an account at E*TRADE? Morgan Stanley E*TRADE age limit:
can you use it under 18 years old?
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What Is the Minimum Age to Open an E*Trade Account: Key Points
• At E*Trade, you must be at least 18 years old to open an account.
• There are special accounts for minors that can be opened with a guardian's assistance.
• E*Trade does not charge any special fees or have minimum balance requirements for minor accounts.
Since E*Trade is owned by Morgan Stanley, which is based in the U.S., the standard age to open a financial account, whether it is a bank or investment account, is 18. To open a bank or investment account with E*Trade, you must also have a permanent U.S. address and a valid tax ID number.
Ways to Bypass the E*Trade Age Requirement
E*Trade’s age requirement applies to their securities and cash accounts. However, there are three types of investment accounts that minors can open with an adult who is at least 18 years old. These accounts are:
- Coverdell Education Savings Account
- Minor IRA
- Custodial Account
For each of these accounts, a minor under 18 can open an account with the help of a guardian who is at least 18 years old. The assets in these accounts are intended for the minor’s benefit.
Although E*Trade doesn’t offer 529 accounts, its parent company, Morgan Stanley, does. Like the other accounts mentioned, the 529 is a joint venture between a child and an adult (not necessarily a parent).
Steps to Open an E*Trade Account for a Minor
Opening a minor account at E*Trade is straightforward. Visit the broker’s website and scroll to the bottom to find the link to open a new account under the Quick Links section. Ignore the purple button at the top for opening a new account, as it only lists the most popular accounts.
After selecting the correct link, you’ll see a new page showing all available accounts at E*Trade. There are several tabs at the top of the page for different account categories. Click on Brokerage to find tiles for Custodial and Coverdell accounts.
Under the Retirement tab, you’ll find a tile for the Minor IRA. Each of these tiles has a Learn More link that provides more details on the account type. You can click on the link to open the account on both the tile and the information page. This will lead you to the application page.
The applications for the Minor IRA and Coverdell account are provided through DocuSign and can be completed online, just like the regular application for a Custodial account. Provide the required information and double-check your entries.
You can also use E*Trade’s mobile app to open any of the three accounts for minors. Tap the Menu icon in the bottom-right corner of the app and scroll down to find the link to open an account. You don’t need to log in to start an application.
For any of the three accounts opened through either method, you’ll need to provide information for both the custodian and the minor, such as tax ID numbers and birth dates.
Fees and Commissions on Minor Accounts
E*Trade does not impose any special fees or commissions on its minor accounts. There are no annual fees or low-balance charges, and many products now have commission-free trading. Additionally, there is no minimum deposit required.
Charles Schwab as an Alternative
E*Trade isn’t the only discount brokerage that offers accounts for children. Charles Schwab provides
all three of the minor accounts available at E*Trade, plus the 529 account. You can open any of these accounts on Schwab’s website, and the custodial account can be opened through Schwab’s mobile app. To do this, tap the More icon in the bottom-right corner and find the link to open an account on the next page.
On Schwab’s website, locate the orange-brown button in the top-right corner to open an account. On the next page, find the link to view all accounts (the specific minor accounts won’t appear initially). Once you see all account types, find the one you need and start the opening process.
Charles Schwab does not charge commissions on U.S.-listed stocks and ETFs traded online in a minor
account. Schwab also doesn’t require a minimum deposit for these tax-advantaged accounts.
Learn more about the Charles Schwab custodial account.
Free Charles Schwab Custodial Account
Visit Schwab Website
Updated on 8/3/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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