Robinhood age limit

Robinhood Minimum Age Limit

Robinhood age limit minimum in 2023. How old do you have to be to open an investment or IRA account at Robinhood brokerage?

Minimum Age for Robinhood Account

Are you thinking about opening a brokerage account at Robinhood? You will need to be at least 18 years old to do that. A financial account requires lots of legal paperwork to be signed, electronically or physically, and this of course requires the applicant to be a legal adult. That’s 18.

And Robinhood only offers individual taxable investment accounts, so there’s absolutely no way to get a legal minor into the mix here.

But it is possible at TD Ameritrade. TD Ameritrade offers many account types for children. These accounts do require a sponsor from a legal adult. Examples include:

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Open Robinhood Account

Custodial Account

TD Ameritrade offers both UGMA and UTMA accounts. These are the custodial accounts. An account must have one custodian and one minor (not two and not zero). Usually, the custodian is a grandparent, parent, or other relative. But by law, the custodian can be anyone. He doesn’t even have to be a U.S. citizen or permanent resident. The minor does have to be one, though.

In most cases, the custodian is the one putting money into the custodial account; but technically, anyone in the world can contribute to a custodial account, including the minor.

Open TD Ameritrade Account

Open TD Ameritrade Account

Minor IRA

TD Ameritrade has a lot of IRA types, one of which is the Minor IRA. It’s available in both Traditional and Roth formats. In either format, an adult and a minor are required to get the account open (this includes details on both, including tax ID numbers).

Technically, on the Minor IRA, the brokerage firm is the custodian, and the adult opening the account is a “responsible individual.”

As with any other retirement account, the juvenile IRA requires earned income on the part of the account owner, who is the minor in this case. That’s a really important requirement that the other minor accounts don’t have.

Robinhood Minimum Age

Coverdell Education Savings Account

TD Ameritrade also has the Coverdell account. It can be used for tax-free growth to underwrite educational expenses. We do emphasize educational expenses here because that’s all a Coverdell’s accounts funds can be used for.

There are income limits on the Coverdell account, which makes it very different from the other two accounts mentioned in this article. Like the Minor IRA, an adult opens the account on behalf of a minor, and TD Ameritrade serves as custodian.

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Opening a Minor Account at TD Ameritrade

For any of the beneficiary accounts listed above, TD Ameritrade has user-friendly tools to start the application process. A custodial account can be opened online. The Coverdell account and Minor IRA have to be opened with paper forms, although these forms can be downloaded from the same starting point on TD Ameritrade’s website.

This starting point is the list of available account types with the broker. To find this list, go to the TD Ameritrade website and click on the Open New Account link at the top of the site. The next page will display a long list of account types available with the brokerage firm. Most of these are for legal adults. Scroll through the list until you find the minor account you’re interested in.

On the account type’s profile page, click on the green button to open the account. For the custodial account, this will give you the online form. For the other two, you’ll get an online form to access the paper application. It can be downloaded, emailed, or sent through the postal service.

Learning Resources

Any of the adolescent brokerage accounts can be accessed through the TD Ameritrade website. Once logged in, many educational materials will be found. These include self-guided courses and digital tools to keep track of your progress through the materials. Some of the learning materials are geared towards beginners.

Fees and Commissions

TD Ameritrade uses the same pricing schedule for its minor brokerage accounts as it does for its other account types. This means no recurring fees and no commissions on stocks and ETFs (assuming the trades are placed online, and the securities aren’t over the counter). The broker has a decent selection of target-date mutual funds.

Open TD Ameritrade Account

Open TD Ameritrade Account

Updated on 3/12/2022.

About the Author
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, Chad can usually be found managing his portfolio or building a new home computer.