Is it illegal to use someone elses brokerage account?

The Short Answer: You cannot trade securities for others without becoming licensed as an investment professional. Investment professionals must be registered with the Securities and Exchange Commission or have a federal license. There are few exceptions to this rule.

Can I trade from my friends account?

One can make trade in his own name but the moment he makes such trade for other clients then he requires necessary permission from the SEBI to run such business. So without the approval of SEBI you can not make trading in the account of other persons.

Can you share a brokerage account?

A joint brokerage account is shared by two or more individuals. Joint brokerage accounts are most commonly held by spouses, but are also opened between family members, such as a parent and child, or two individuals with mutual financial goals, such as business partners.

Can I manage my parents brokerage account?

You can have all these piles of money under your management. That is, your parents and brother should each maintain separate brokerage accounts from yours, and then give you the authorization to trade (but not withdraw from) their accounts.

Can two people own an investment account?

Joint investment accounts allow two or more people to invest together. You can invest in just about anything with a partner, including stocks, bonds and funds; property (such as vehicles); or real estate. Combined ownership in financial assets is referred to as joint tenancy.

Can I have two different brokerage accounts?

There’s nothing wrong with opening multiple brokerage accounts. In fact, it may be beneficial.

Can you trade stocks under your parents name?

Custodial Accounts for Teen Investors Investors under age 18 are not allowed to own stocks, mutual funds, and other financial assets outright. If you are a minor, you can make investments only under the supervision of your parent (or an adult) through a custodial account.

Does Robinhood offer custodial accounts?

Robinhood does not offer UTMA/UGMA custodial accounts. As an alternative, we suggest a brokerage firm called TD Ameritrade that offers UTMA/UGMA custodial accounts as well as $0 commission on stocks, ETFs, and other investment classes. There are no account fees whatsoever.