Offer value details
Schwab says a new Schwab Teen Investor account can receive a $50 cash bonus that Schwab uses to place five $10 fractional-share orders after the teen completes the Quick Start to Stock Investing course within the listed window.
Qualification requirements
Open a new Schwab Teen Investor taxable joint brokerage account for a teen age 13-17 and a parent or legal guardian. The teen must complete Schwab's Quick Start to Stock Investing course within 45 days of the account opening date for the offer to continue.
Fees and costs
Schwab says the Teen Investor account has no subscription fees, no account maintenance fees, and no minimum initial deposit. Schwab's pricing page lists $0 online listed stock and ETF commissions and $0 brokerage opening and maintenance fees, while options, OTC, broker-assisted, mutual-fund, bond, foreign-stock, and other service or transaction fees can apply.
Availability
The account is for U.S. teens ages 13-17 and a parent or guardian. The parent or guardian initiates and approves the account opening, provides standard personal information, and uploads acceptable teen identification. Schwab says the offer is limited to one new Teen Investor account, no more than one account enrolled per teen, and is available to U.S. residents only.
What to verify
- This is a taxable joint brokerage account for a teen and parent or guardian, not a bank account or custodial account.
- The $50 reward can become concentrated fractional stock positions unless the orders are canceled during the listed window.
- Investments can lose value, and the offer can be tax reportable on Form 1099-INT.
- Restricted products include margin, options, futures, forex, leveraged and inverse ETFs, OTC stocks, alternative investments, lending products, ADRs, and advice offers.
Confirm current provider terms
Rates, rewards, fees, qualification rules, eligibility, and deadlines can change. Review the provider terms before applying.