My 14, soon to be 15 y/o nephew is interested in stocks, investments & savings. He’s played with some demo Forex accounts and wants to give it a try with real money.
- Is it legal for someone his age to be trading stocks & ETFs in CH?
- Are there any brokers that allow underage teenagers to signup? He’s into eToro since they offer demo accounts.
- Could you recommend a bank account with a free bank account & a free debit card? He obviously doesn’t have income (other than pocket money, gifts & occasional eBay sales) and doesn’t want to spend tens of CHF for bank accounts & brokers. From my understanding this is not something that Neon & Cler Zak offer so he needs to look into mainstream banks.
- Are there any implications I’m missing? (taxes, etc?)