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Here Come the Teens: They Can’t Vote, but They’re Old Enough to Buy Stocks.
Like many teenagers, Ronak Davé enjoys the videogame Roblox. But he doesn’t play much these days, preferring to trade the stock instead. He recently sold a stake in Roblox after holding it for a few weeks, notching a 25% gain, or about $200.
“I saw a pullback after looking at the technical patterns,” Davé says. “I noticed some resistance coming back and thought it would go down.” At 16, Davé isn’t your typical trader. A high school junior outside Chicago, he started trading a year ago and now spends a few hours a day on the markets ...
Fidelity investments introduced a youth account product last month for those ages 13 to 17. The accounts come with a debit card, unlimited trading, and access to nearly the entire US market - overseen voluntarily by parents …
Fidelity’s youth accounts are like a standard brokerage account with training wheels. Teens can trade all they want, but Fidelity restricts the types of stocks to U.S.listed companies, doesn’t allow options or margin trading, and recommends capping annual deposits at $30,000.
