Charles Schwab announced on Thursday a new Schwab Teen Investor account, a joint brokerage account for youngsters 13 to 17 years old and their parents or legal guardians, to provide monitored investing experience.
Teens have access to investment products, financial education and round-the-clock support. Those who complete an online education course within 45 days of opening the account will receive $50 in fractional shares.
A recent Schwab survey indicates 70% of teens are very or extremely interested in investing, and 73% of parents believe it is very important for teens to learn about investing, the financial services company reported.
The Schwab Teen Investor account allows young people to trade stocks, fractional shares, mutual funds, fixed income securities and most exchange-traded funds via Schwab's mobile app, Schwab.com, and Schwab's thinkorswim trading platform. There's no minimum initial deposit, $0 commissions for online listed stock trades and no account opening or maintenance fees.
Teens can use a debit card to withdraw any cash from the account and use direct deposit to fund it. Both teens and parents can trade and move money in the account.
The Schwab Teen Investor account does not allow access to higher risk products and services such as margin and option trading, futures and foreign exchange trading, and higher-risk securities such as leveraged or inverse ETFs.
Schwab's average new-to-retail investing client is in their 30s, and Gen Z investors comprised nearly a third of new Schwab retail client accounts opened in 2025, the company said.
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