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Subject:  Brokerage account for child Date:  11/22/2020  7:34 PM
Author:  rnam Number:  131348 of 132797

My cousin’s son, all of 10 years old, is into stock investing, after his team won an investing game they played in school.

Now he wants to invest all his birthday and Xmas gifts in stocks for real. He will probably have $500 to start with. He has already picked Apple and Nio for his first investments.

My cousin wants to encourage his interest in investing and wants to know if she should open a brokerage account in her son’s name or in her own. Also which financial firms will open an account with a very low $500 minimum and allow investment in fractional shares of stock. I have heard of Robin Hood as it has been in the news a lot, but have no experience of it.

Thanks in advance for your recommendations.
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