Best stock trading app1/16/2024 ![]() Fidelity Youth Accountįidelity Youth Account is a brokerage account for teens ages 13-17. 10 Best Investing Apps and Stock Apps for Teens 1. In some cases, teens can use these investing apps and stock trading apps to watch how their investments are performing and even receive notifications, but you’ll be doing all of the heavy lifting when it comes to buying and selling stocks. To avoid potential disasters, you may also want to set rules that you are the only one who can submit requests to buy or sell stocks. If your child is ready to take the risk, thoroughly discuss all of the trades your child wants to make. If they’re not willing to take risks, they may not be quite ready for stock trading. Stock movements can appear random and difficult for teens to understand. They may buy a stock that is in a good position one day and then falter the next. When it comes to financial literacy and understanding the risks of stock trading, it’s important to explain to them that stocks are risky because you are bidding on an investment with no guaranteed results. Understanding that this is real money, and not play money, is key. The problem is that teens may not fully understand the risks involved. Risks of Teen Stock TradingĪs with stock trading for adults, teens also face risks by putting their money in the stock market. Since markets go up and down unpredictably, teens should be taught early that sometimes they have to ride the wave to see a real money return. Many investors buy quality stocks and hold them for years to see a solid return. It may also be a good idea to teach them the benefits of a “buy and hold” strategy. This is where you may want to lean on professionals to help your teen choose the investments that will give them the best chance of reaching their goals. With so many options available, choosing the right investments can be overwhelming. While minors cannot open a brokerage account by themselves, you can work with them to open a joint or custodial account that will help them to invest. Why does your child want to invest? What are his or her financial goals? Having a clear mindset of what the end game is will help you guide your child on the right path and find the right investment strategy. A trip to the bank to speak with a professional is also a good way to start. If you’re unsure how exactly to explain how investing in the stock market works yourself, do some research with them online or ask someone who has deeper knowledge. ![]() Explain how to buy stocks and how they can make and lose money. ![]() Begin by telling them how the stock market works. Educate Them About the BasicsĬall it a crash course in stock market trading 101 if you will. If your teen has come to you and has an interest in starting to invest some of their money, here are some ways to help them get on the right path. Related: 14 Credit Card Tips for Teens How to Help Your Teen Start Investing We have some tips to help your teen start investing as well as a list of 10 of the best investing apps and stock apps.Īs you help your child have a better understanding of the stock market, you may pick up some useful tips in the process to help with your own investment goals. Many teens don’t fully grasp the risks of stock trading and lose more than their spare change as a result!Īs a parent, there are things you can do to help your teenager get on the path to financial success. While it’s good to start young, teen investing can come with risks that your child should understand. These days, teens are getting a first-hand financial education as many of them have begun stock market trading and investing. ![]()
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