How do you convince your parents to let you trade stocks?
When you gain confidence, ask your parents to give you the money they plan to use to buy any gift for you so that you will invest it in the stock market. If you make a profit, show them. This will convince them that you have a natural acumen in dealing with stock markets.
Can I buy stocks if I m under 18?
Investors under age 18 are not allowed to own stocks, mutual funds, and other financial assets outright. If you are a minor, you can make investments only under the supervision of your parent (or an adult) through a custodial account.
How Old Do you have to be to buy stock?
18 years old
How old does my child have to be to buy stocks? To start investing in stocks on their own, your kid will need a brokerage account, and they must be at least 18 years old to open one. They can start earlier than this, but they’ll need a parent or guardian to open a custodial account for them.
How do I convince my parents to invest?
Be clear about how exactly you intend to you use the money. Doing so will give your parents enough ground to decide if they could and should give you the money. Also, be honest and do not just say what you think they want to hear and what they would most likely approve.
Can you invest in stocks at 15?
Because you’re a minor under 18 years old, you’ll need to open what’s known as a custodial account. That means an adult — most likely one of your parents — must open the account with you and be the custodian. When you buy shares of stock you’ll have to pay the broker a fee or commission.
Can a 14 year old invest in stocks?
Yes, there is stock investing for teens (keeping in mind that you must be 18 years of age to invest. If you aren’t 18, you can still do so with joint or custodial accounts with your parents or guardian).
Can you buy stocks for your parents?
Parents can purchase stocks for their adult children as well as their minor children. If you purchase stocks for your minor child, you’ll set up a custodial account, which becomes the property of the child even though you can manage the account until the child reaches the age of majority.