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TradeStation Age Requirement: How Old Do You Have to Be to Open an Account?
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TradeStation Age Requirement
The minimum age to open an individual trading account at TradeStation is 18. TradeStation also provides an Equities Custodial Account for minors, but it has to be opened and handled by an adult custodian.
Continue reading to see why Schwab can still be a strong alternative.
Key Takeaways
• TradeStation makes an Equities Custodial Account available for minors.
• Schwab offers custodial accounts, giving parents and guardians a way to manage investments for minors until they become adults.
• Schwab’s platform has a simple interface, competitive trading costs, and a large selection of educational resources, making it useful for many types of investors.
TradeStation's Custodial Accounts
TradeStation has a lot going for it and offers many useful trading features. The firm does have a custodial account for minors, but this option is specifically an Equities Custodial Account.
If you want a brokerage firm with more account choices for minors, Schwab is a solid alternative because it offers many advanced investing tools along with several account types for children and education savings.
Schwab as an Alternative
Schwab offers Schwab One Custodial Accounts as well as several other options. Whether you need a custodial brokerage account or an education-focused account, such as a Coverdell ESA or a 529 plan, Schwab gives families a range of choices.
How Schwab's Custodial Accounts Work
The Schwab One Custodial Account is created under either the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA). The governing state determines which set of rules applies. Investors who already understand UGMA and UTMA accounts will recognize the basic structure of Schwab’s custodial account.
If these accounts are new to you, here are the main points.
A Schwab One Custodial Account is an investment account controlled by an adult custodian for the benefit of a minor. When the minor reaches the age of majority, control of the account is transferred to the child. The exact age depends on the governing state.
While the custodian manages the account, the assets in the account belong to the minor. The custodian, rather than the child, makes account decisions until the child reaches the age of majority.
Free Charles Schwab Account for a Child
Visit Schwab Website
Why Investors Like Schwab
Charles Schwab offers a variety of features that can be useful for long-term investors, including families using custodial accounts. Some of the main benefits include:
No Fees and Commissions: Schwab charges $0 commissions on online U.S.-listed stock and ETF trades, which can help investors reduce trading costs. Other fees may apply.
Diverse Investment Options: Investors can access many investment choices, including stocks, mutual funds, ETFs, and other products, to help build a diversified portfolio.
Educational Resources: Schwab provides a broad set of educational materials that can help investors learn the basics and better understand their financial goals.
Customer Support: Schwab provides customer support for account questions, platform help, and general assistance.
Other Accounts for Minors
Schwab offers several other accounts that may be used for minors or education savings, giving families flexibility based on the needs and goals of the child.
Coverdell Education Savings Accounts (ESA)
Schwab offers Coverdell Education Savings Accounts (ESAs) for families who want to save for qualified education expenses. Contributions can grow tax-free, and withdrawals are tax-free when used for qualified expenses such as tuition, books, and supplies. Coverdell ESAs can be used for qualified education costs from kindergarten through college.
529 College Savings Plans
529 college savings plans are widely used for education savings. They offer tax advantages and can be used for a range of qualified education expenses. Contributions grow tax-deferred, and withdrawals for eligible costs are tax-free, which can make them useful for managing education expenses.
Final Thoughts
Schwab is a strong alternative to TradeStation for investing on behalf of minors. TradeStation does offer an Equities Custodial Account, but Schwab has a wider selection of minor and education-related accounts, including custodial brokerage accounts, Coverdell ESAs, 529 plans, and Custodial IRAs.
Free Charles Schwab Account For a Child
Visit Schwab Website
Updated on 9/9/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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