How to Buy Stocks for Kids
Start investing on behalf of your kids by opening an account on Stockpile.
I used the ShareBuilder program through Capital One, which automatically deducted money from my bank account, to buy Disney stock for my niece. The program was discontinued. Is there a similar program?
Answer: Online brokerage Stockpile offers one with no monthly fees or minimums and 99-cent trades. You can sign up for automatic deductions from your bank account and invest in more than 1,000 stocks (including Disney) or exchange-traded funds. You will need to open a custodial account if your niece is a minor. But you can give her access to the account so she can place trades, subject to your approval. Dividend reinvestment is free.