Tradestation under 18

Tradestation Age Requirement in 2024


Tradestation age limit. How old do you have to be to open an account at Tradestation in 2024? Can you use Tradestation under 18 years old?


TradeStation Age Requirement


The minimum age to open a trading account at TradeStation is 18. Unfortunately, TradeStation doesn't offer minor accounts, so parents and guardians need to find other reliable options. Keep reading to learn why Schwab is a fantastic alternative.


Key Takeaways


• Tradestation does not currently offer accounts for minors.

• Schwab offers UGMA and UTMA custodial accounts, allowing parents and guardians to manage investments for minors until they reach adulthood.

• Schwab's platform includes a user-friendly interface, low trading fees, and extensive educational resources, ideal for all investor levels.


TradeStation's Custodial Accounts


There are many things to like about TradeStation as it has a lot to offer. However, despite its many features, there are no accounts for minors.

If you are looking for a good broker to open an account for a minor, you'll have to look at an alternative. Schwab is a good choice because it has many of the same advanced trading features that TradeStation does, but also several account options for minors.


Schwab as an Alternative


Schwab offers 'Schwab One' custodial accounts, along with several other options. Whether you seek a custodial account or a specialized brokerage account for savings (such as Coverdell or 529 plans), Schwab provides a variety of choices to meet your needs.


Tradestation Age Requirement


How Schwab's Custodial Accounts Work


The Scwhab One account is based on one of two laws: the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA). The state that you reside in determines which. The rules for Schwab's custodial account will be familiar to anyone experienced with UGMA and UTMA guidelines.

If you are not familiar, here are the highlights.

The Schwab One account is an investment account managed by an adult custodian on behalf of a minor. When the minor reaches the age of majority, they take control of the account. The specific age when that happens depends on the state that the minor lives in.

While the custodian controls the account, the minor is free to make investment decisions and trade as if they were using their own account. However, the assets within the account always belong to the minor.


Charles Schwab Website



Visit Schwab Website

Why Investors Like Schwab


Charles Schwab offers a range of features particularly advantageous for long-term investors, especially those who hold custodial accounts. Here are some of the top features:

No Fees and Commissions: Enjoy zero commissions on stock and ETF trades, maximizing investment returns.

Diverse Investment Options: Access a variety of investment options like stocks, mutual funds, ETFs, and more to build a diversified portfolio.

Educational Resources: Benefit from comprehensive educational resources to learn basic investing skills and understand financial goals.

Customer Support: Depend on excellent customer support for guidance and assistance with any questions or issues.


Tradestation minimum Age


Other Accounts for Minors


Schwab offers a variety of other accounts specifically designed for minors, providing flexibility and options depending on the individual needs and goals of young investors and their families.


Coverdell Education Savings Accounts (ESA)


Schwab offers Coverdell Education Savings Accounts (ESA) to help families save for educational expenses. Contributions grow tax-free, and withdrawals are tax-free for qualified expenses like tuition, books, and supplies. Coverdell ESAs are a great choice for planning education costs from kindergarten through college.


529 College Savings Plans


529 College Savings Plans are ideal for saving for higher education. They offer tax advantages and cover various educational expenses. Contributions grow tax-deferred, and withdrawals for eligible costs are tax-free, making them effective for managing rising education costs.


Final Thoughts


Schwab stands out as an excellent alternative to TradeStation for investing on behalf of minors. Whether opting for a custodial account or a long-term savings plan, Schwab offers flexibility, tax benefits, and educational resources.


Charles Schwab Website



Visit Schwab Website

Updated on 6/18/2024.


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 Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.