/biz/ - Business & Finance

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Hey /biz/, father of one son here.

He's 16 and wants to get in on the stock market. He and his friend came up with it a few months ago, and have been harping on it ever since. It's mostly a get-rish-quick scheme for them, but they've done some solid research and are realizing the true risks and rewards they might gain. They both work jobs at above minimum wage and have set aside all the money they're willing to lose for investment. They've joined a junior investment club as well.

Long story short, what are some (preferably online and with no minimum/very small minimum deposit) brokeragre firms that allow minors to sign up, with or without parent permission and oversight? I'd really prefer they have their own seperate account, apart from my own and his friend's parents (they're also investors).

If all else fails though, I guess I'll just open a custodial account for them.