Dealing accounts for children

crazy2008

My 13 year old has taken a keen interest in the stock market recently and asked if he could open a dealing account.  I have no previous experience in the DIY investment market and was looking for recommendations on which platforms to use.  Any advice would be really appreciated.  Thank you.

pramsay13

Children under 18 are not allowed to own individual shares, so he would be looking for a Junior stocks and shares ISA. 
Someone like Vanguard or Hargreaves Lansdown would be a good place to start.
He could also open a practice trading account to experience what it is like in the meantime.

crazy2008

So I cannot open one as a trustee either? I thought with JISA you don’t get to choose the shares you invest in. Probably need to read up more on this.

xylophone

So I cannot open one as a trustee either? I thought with JISA you don’t get to choose the shares you invest in. Probably need to read up more on this.

Does he have a CTF? It was perfectly possible to choose the investments within a CTF as it is in a JISA.

It is possible to transfer CTF to JISA.

The child cannot have both a CTF and a JISA.

https://www.gov.uk/child-trust-funds

With regard to a dealing account for a child, you could certainly open one in bare trust and choose the investments within it.

Example

https://www.youinvest.co.uk/investing-for-children/dealing-accounts-for-children

crazy2008

Thank you Xylophone.  This AJ bell dealing account looks like what he’s looking for.  Clearly won’t be a lot of money in the account just something for him to learn/explore

ChilliBob

Fidelity offer a good JISA if that's what yiu want as well as this trading account