You can open a trading account for a minor under the age of 18. The account type you’ll need is a minor account.
It’s basically a trust account, where an adult / guardian manages the account on behalf of the minor.
When the minor turns 18, they can open their own trading account and transfer their holdings via an Off Market Transfer.
Minor account in Australia - apply via email
- Print & fill out a Minor application form with a pen (not digitally!) ✍️
- Tick the account type “in trust for a Minor”
- Fill in the Minor’s name and date of birth
- Send us the supporting ID documents (listed below)
- Email both of the above to firstname.lastname@example.org
Please check out the following article for info on international Minor accounts 🌏
ID documents required
To make sure your account is opened safely, we verify ID using digital verification services, Green ID and Equifax.
What we’ll need from you:
- Australian Passport
- Australian Driver’s Licence or National ID card
- A certified copy of the Minor’s Birth Certificate
For the Birth Certificate, please carefully review our approved certifiers list and make sure that certification is within the last 3 months.
Linked cash account 💰
We use the linked cash account to settle your trades with Opentrader. The cash accounts are integrated with Opentrader, which allows for a pretty slick trading experience ⚡️
We use approved provider, ANZ - we’ll create an account for you when you sign up to Opentrader. If you’d like to use a Macquarie Cash Management account, we can link that for you instead.
All accounts must have a linked cash account with one of our approved providers, unless settling to an existing Leveraged Margin Loan Account.
For anything else
If you have any questions or need help, don't hesitate to get in touch 🙋
You can reach us on live chat or over the phone on 1800 OT TEAM (1800 688 326 or +61 2 9055 4400 for overseas). We're available between 9:00 am and 5:00 pm (Sydney time), Monday to Friday. If we're away, just send us a message and we'll get back to you.