Are there any restrictions or special requirements for minors who want to trade cryptocurrencies on a TD Ameritrade account?

3 answers

• Dec 17, 2021 · 3 years ago
  Yes, there are certain restrictions and special requirements for minors who want to trade cryptocurrencies on a TD Ameritrade account. Minors are generally not allowed to open their own brokerage accounts, including cryptocurrency trading accounts. However, they may be able to trade cryptocurrencies under a custodial account, where a parent or guardian acts as the custodian and manages the account on behalf of the minor. This allows minors to participate in cryptocurrency trading while still complying with legal requirements and regulations.
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• Dec 17, 2021 · 3 years ago
  Trading cryptocurrencies on a TD Ameritrade account as a minor requires the involvement of a custodian. This means that a parent or guardian must open and manage the account on behalf of the minor. The custodian will have control over the trading activities and will be responsible for ensuring compliance with any applicable laws and regulations. It's important to note that the specific requirements may vary depending on the jurisdiction and the policies of TD Ameritrade. It's recommended to consult with TD Ameritrade or a financial advisor for more information on the restrictions and requirements for minors interested in trading cryptocurrencies.
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• Dec 17, 2021 · 3 years ago
  As an expert in the field, I can confirm that minors who want to trade cryptocurrencies on a TD Ameritrade account need to have a custodial account. This means that a parent or guardian will need to open the account on behalf of the minor and manage the trading activities. The custodian will be responsible for ensuring compliance with any legal requirements and regulations. It's important for minors and their custodians to understand the risks involved in cryptocurrency trading and to make informed decisions. If you have any specific questions or concerns, feel free to ask.
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