*Subscription fee comparison based on published website subscription fees for accounts as of 5/20/2022. For Greenlight Invest: $4.99/month. For Acorns: $5.00/month. For GoHenry: $3.99/month.
+Teen investing comparison based on published website investing data as of 5/20/2022. For Greenlight Invest: $7.98/month for teens to invest. For Acorns and GoHenry: teen investing is not supported.
‡ATM fee comparison based on published website ATM fee data as of 5/20/2022. For Greenlight Invest: No ATM fees, though bank owner of ATM may still charge a fee. For Acorns: 55,000 fee-free ATMs within the AllPoint Network. For GoHenry: $1.50 domestic ATM fee.
§Teen-owned debit card comparison based on published website debit card data as of 5/20/2022. For Greenlight Invest: teen-owned debit card included with monthly subscription fee. For Acorns: no teen-owned debit card included. For GoHenry: teen-owned debit card included with monthly subscription fee.
Chart is a hypothetical comparison. Investing involves risk of loss and performance is not guaranteed.
How this chart works
The hypothetical chart above illustrates the potential growth of an investment account assuming a 7% annual nominal investment growth rate vs a .07% National savings account deposit rate as of May 16, 2022*. This chart assumes estimated/average return rates stay constant over the course of the time horizon and that no withdrawals were taken. Taxes, fees, and inflation are not included. Unlike traditional FDIC savings accounts, investments accounts are subject to market risk and do not carry FDIC insurance to protect from loss. Each type of account has its own unique set of potential benefits and limitations that you should consider before deciding what type is right for you.
Interact with the slider to increase or decrease the monthly contribution to discover how the money could grow in an investment account vs an FDIC savings account. The monthly contribution is how much you want to invest every month. In this chart it is set at $250, but you can move the slider from $0 to $1,000 to see how your contributions could grow over time. For example, a $250 monthly contribution in an investment account could grow to $304,993 in 30 years compared to $90,949 in a traditional savings account, using end of month compounding.
This example is for illustrative purposes only and does not represent the performance of any security. The assumed rate of return is not guaranteed. Investments that have potential for a 7% rate of return also come with risk of loss. Past performance does not guarantee future results.
* FDIC: National Rates and Rate Caps
Open your account
1. Open an account for yourself
Open a brokerage or Fidelity Cash Management Account to get oversight into your teen’s activity and easily transfer funds between your account and your teen's.
2. Open an account for your teen
Get an account for your teen with no account fees or minimums to open. A parent/guardian must have an account to open a teen account and have identifying documents for your teen.
3. Your teen activates the account
Once you've completed the application and identification documents have been verified, your teen will need to download the Fidelity Mobile® App to activate their account.
Frequently asked questions
Frequently asked questions
What steps do I take to open a Youth Account?
You, the parent or guardian, and your teen can open this brokerage account together. There are a few regulatory and legal steps you and your teen will have to complete first. As parent/guardian, you must:
- Have an existing Fidelity brokerage or Cash Management Account.
- Log in to your account to begin opening a Youth Account.
- Upload images of physical documents of your teen’s Social Security card, plus one of the following: a current passport, birth certificate, driver’s license, or school ID.
Once you complete the application process and submit the required documents, your teen will receive an email/SMS text with next steps. (NOTE: If steps are incomplete, the account will not be available to receive funds or trade.) Your teen will have to:
- Establish a username and password.
- Download the Fidelity Mobile® app and accept the Terms of Agreement. Once logged in, your teen will also have to accept the Youth Account Terms of Agreement.
Once that last step has been completed, any funding links between your Fidelity account and your teen’s account will be activated. (Please allow 2 business days for this process.)
How is a Youth Account different from a Roth IRA for Kids?
The Youth Account is a teen-owned taxable brokerage account. It is owned by the minor, who makes all the investment decisions. This is unlike a Roth IRA for Kids, which is a custodial account that an adult opens and manages on behalf of a child under age 18 who has their own employment compensation.3 Earnings in a Roth IRA for Kids grow federal tax free; qualified withdrawals are also tax free.4
Is the Fidelity Youth Account a joint account or custodial account?
No, the Youth Account is a teen-owned brokerage account. It is owned by the minor, who makes all the investment decisions. This is unlike a custodial account (e.g., Uniform Gifts to Minors Act [UGMA] account or a Uniform Transfers to Minors Act [UTMA] account) where the custodian makes the investment decisions on the minor's behalf.
Learn about other account options for saving & investing for a child
Investing involves risk, including risk of loss.
$0.00 commission applies to online U.S. equity trades and exchange-traded funds (ETFs) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Institutional® are subject to different commission schedules.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917