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Age Requirement: How Old Do You Have To Be To Open Tradestation Account?
Tradestation age limit. How old do you have to be to open an account at Tradestation in
2025? Can you use Tradestation under 18 years old?
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TradeStation Age Requirement
The minimum age to open a trading account with TradeStation is 18. Unfortunately, TradeStation does not have accounts for minors, so parents or guardians must look elsewhere.
Read on to see why Schwab is a great option.
Key Takeaways
• TradeStation does not have accounts for minors.
• Schwab provides custodial accounts, so parents or guardians can manage investments for minors until adulthood.
• Schwab’s platform has a simple interface, low trading fees, and many educational tools, suitable for every type of investor.
TradeStation's Custodial Accounts
TradeStation has many good features, but it does not offer accounts for minors.
If you want a broker that lets you open an account for a minor, you’ll need an alternative. Schwab is a strong option because it has many advanced trading tools like TradeStation and also provides several account types for minors.
Schwab as an Alternative
Schwab provides 'Schwab One' custodial accounts and other options. Whether you need a custodial account or a specialized brokerage account for education savings (like Coverdell or 529 plans), Schwab has many choices.
How Schwab's Custodial Accounts Work
Schwab One accounts follow either the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA). Your state's law decides which one applies. If you know UGMA and UTMA rules, you’ll find Schwab’s custodial account straightforward.
If you’re new to these laws, here’s a quick summary.
A Schwab One custodial account is managed by an adult for a minor. When the minor reaches the age of majority, they gain full control of the account. The exact age depends on the state.
While the adult manages the account, the minor can still make trades and investment decisions as if it's their own account. However, the assets always belong to the minor.
Charles Schwab Website
Visit Schwab Website
Why Investors Like Schwab
Charles Schwab has many features that benefit long-term investors, especially those with custodial accounts. Here are a few highlights:
No Fees and Commissions: Trade stocks and ETFs with zero commissions, helping increase potential returns.
Diverse Investment Choices: Choose from a variety of assets like stocks, mutual funds, ETFs, and more for a balanced portfolio.
Educational Resources: Access thorough educational materials to learn about basic investing skills and financial goals.
Customer Support: Count on reliable support for help with questions or issues.
Other Accounts for Minors
Schwab also has other account types for minors, giving families different options based on their goals and needs.
Coverdell Education Savings Accounts (ESA)
Schwab provides Coverdell Education Savings Accounts (ESAs) to help families save for education costs. Contributions grow tax-free, and withdrawals for qualified expenses (like tuition, books, and supplies) are also tax-free. Coverdell ESAs are useful for expenses from kindergarten to college.
529 College Savings Plans
529 College Savings Plans are helpful for saving for higher education. They offer tax benefits and cover a range of educational expenses. Contributions grow tax-deferred, and withdrawals for qualified costs are tax-free, making them a good choice for dealing with college expenses.
Final Thoughts
Schwab is a great substitute for TradeStation when you need to invest for a minor. Whether you choose a custodial account or a long-term savings plan, Schwab gives you flexibility, tax advantages, and educational support.
Free Charles Schwab Custodial Account
Visit Schwab Website
Updated on 1/3/2025.
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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