Best Custodial Brokerage Accounts for 2026
The best custodial accounts offer features that matter most to both child and adult account owners: low fees, investment education and a good platform.The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
In addition to being an editor at NerdWallet, I'm also a new mom, which makes this roundup one I couldn't help but take personally.
Of the accounts I’m considering adding to our family lineup, a custodial account — a taxable brokerage I can control for my son until he's of age — is on the list, along with a 529 for education. Maybe we’ll throw a custodial IRA into the mix when he’s older and earning some income from part-time jobs.
For me, the immediate use case is simple: a place to invest cash gifts from birthdays, graduations and other milestones. Over time, that money can grow and be used for my son’s future goals, with fewer restrictions on withdrawals than other account types, whether that’s making a dent in a down payment for a home or a car.
Here are some of the best brokerages to consider for opening a custodial account.
Best overall custodial brokerage account: Fidelity
Best teen-managed account: Charles Schwab
Best for the advanced trading parent: Interactive Brokers
Best for the hands-off investing parent: Acorns
Worth a look: Vanguard, Merrill Edge, E*TRADE
Our picks for the best custodial accounts
Company | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
4.8/5 | $0 per online equity trade | $0 | Up to $500 when you make a qualifying net deposit | Learn moreon Charles Schwab's website | |
Learn moreon Charles Schwab's website | |||||
Learn moreon Charles Schwab's website | |||||
4.5/5 | $0 per trade. Other fees apply. | $0 | Get up to $1,500 when you open and fund an E*TRADE brokerage account. Terms apply. | Learn moreon E*TRADE's website | |
Learn moreon E*TRADE's website | |||||
Learn moreon E*TRADE's website | |||||
4.2/5 | $0 per trade for online stocks, ETFs and Vanguard Funds. | $0 | None no promotion available at this time | Learn moreon Vanguard's website | |
Learn moreon Vanguard's website | |||||
Learn moreon Vanguard's website | |||||
Best Online Broker for Advanced Traders | 5.0/5 | $0 per trade | $0 | None no promotion available at this time | Learn moreon Interactive Brokers' website |
Learn moreon Interactive Brokers' website | |||||
Learn moreon Interactive Brokers' website | |||||
4.5/5 Reviewed in: Oct. 2025Period considered:Aug. - Oct. 2025 | $3 - $12 per month | $0 | $10 sign-up bonus | Learn moreon Acorns' website | |
Learn moreon Acorns' website | |||||
Learn moreon Acorns' website | |||||
Account fees: Most brokers on this list charge $0 for annual, inactivity and closing fees. That matters because I don't want fees eating into my contributions on a yearly basis or if I choose to pause investing for a stretch.
Access to fractional shares: This was important to me because fractional shares let you buy pieces of investments you want to own but can't yet afford in full or don’t want an entire share of — that’s especially useful when contributing smaller amounts each month or on occasion. I'd rather have every dollar working than let cash sit idle.
Number of no-transaction-fee mutual funds: If mutual funds are your investment of choice, the brokers on this list offer a solid selection without tacking on extra trading or transaction costs.
Quality of trading platform: My son is almost one, which means I’ll be using whatever platform I choose for a good chunk of time to come. A good broker makes monitoring your child's financial progress feel effortless, not like a chore, so I considered how easy it is to place trades, find support, access educational resources and check in on things across both mobile and desktop.
Access to educational resources: Strong tools and resources help you teach your child about investing as they grow (and can help you decide what belongs in their portfolio in the first place). Every provider on this list scores at least a 4 out of 5 for this aspect.
Throughout this list, I've also noted brokerages that offer additional perks that might make or break an otherwise close race.
Comprehensive ecosystem: If you're like me and are interested in a broker that supports an entire ecosystem of accounts for your little one — say a 529, a Roth IRA for kids or even their own teen investment account — some companies do this better than others. Of course, this comes with the caveat that you might be better off opening a 529 with your state’s plan if your state offers a tax deduction.
Ability to practice trading: Another consideration is how much investing factors into your family dynamics. Some people may be interested in brokerages that offer tools like paper trading, which can help you show your kid the ins and outs of investing as they grow.
Finally, I also went through robo-advisor options, which can be attractive to some people because not everyone has the time or desire to actively manage investments. Not every robo-advisor offers custodial accounts, and for those that do, minimums can be steep, so I've highlighted the ones that make access to this type of service more accessible.
Best overall custodial brokerage account: Fidelity
Fidelity rose to the top of my list for a few reasons. It's easy to use, has low ongoing costs and supports fractional investing for both stocks and ETFs. Educational resources are excellent, and there's even a dedicated youth investing account if you'd like to give your teen a chance to try things on their own.
2026 Best-of Award winner: Fidelity is NerdWallet's pick for the best online broker for beginning investors and the best app for investing. Fidelity is one of the largest and most well-established brokerages, and it shows. Fidelity charges no trading commissions, offers an extensive set of no-fee, no-minimum index funds. It also stands out for its top-notch research tools, a renowned trading platform and very strong customer service.
The only downsides, which may not matter to some investors, are a somewhat smaller selection of no-transaction-fee mutual funds than some competitors and no access to paper trading. Neither is a dealbreaker for most. It’s also worth calling out that Fidelity offers a handful of proprietary zero-expense-ratio index funds. This is notable because expense ratios can eat away at your returns over time.
Fractional shares available for stocks and ETFs.
Offers a custodial IRA and 529s.
Excellent educational resources.
No paper trading.
Integrates well with existing Fidelity 401(k) or IRA accounts.
Fidelity Youth Account allows kids ages 13–17 to invest independently.
Best brokerage account for teens: Charles Schwab
Let's get one thing out of the way: Charles Schwab is also an excellent first choice for a custodial brokerage account. It came right up behind Fidelity in my assessment, scoring high marks across the board — especially on customer service. (Trust me on this one: I called Schwab's helpline multiple times while reviewing their platform and was always connected with a knowledgeable rep within minutes.) I mainly dinged Schwab because Fidelity's platform is more intuitive to use.
2026 Best-of Award winner: Charles Schwab is NerdWallet's pick for the best online broker for IRA investors. Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, four free trading platforms, a wide selection of no-transaction-fee mutual funds and $0 commissions for stocks, ETFs and options.
But while we are here, I also wanted to highlight Charles Schwab as an excellent choice if you want to get your teen investing while you also invest for them. Of the providers on this list, only Fidelity and Schwab offer teen investing accounts, but I find Charles Schwab's resources and approach better.
They have an entire MoneyWise Teens section on their website with videos, articles and tools, but what's more important is that the actual account, Schwab’s Teen Investor, is a joint account, allowing for a degree of co-management for parents when it comes to withdrawals and trades. (Compare this to Fidelity’s, which is teen-owned but allows for parental collaboration in some respects). Another nice bonus for Schwab is that kids who complete an investing course within 45 days get $50 in stock.
Fractional shares available.
Offers a custodial IRA and 529s.
Paper trading available.
Excellent educational resources.
Teen Investor account allows kids ages 13–17 to invest with parental oversight.
Best for the hands-off investing parent: Acorns
As I was compiling this list, Acorns struck me as a more nontraditional option, but I felt it warranted inclusion for one big reason: it lets you set up an automated custodial account with a low entry fee.
The Acorns Early plan automatically invests the money you add to the custodial account into a diversified portfolio, eliminating the need to pick individual investments yourself. The round-up feature also makes setting up automatic contributions easy.
To sign up for an Early Invest account, you'll need to pay for Acorns Gold, a subscription that runs $12 a month, or $144 a year. One subscription can cover multiple custodial accounts if you're saving for more than one child. If you contribute at least $7,000, Acorns will also match 1% of your contribution, for a maximum $70 match. That reduces your all-in cost to about $74 if you hit the threshold.
Acorns is known for its automatic roundups that make saving and investing easy. The downside? At small account balances, Acorns' fees can cut into investment returns. Acorns has great tools for kids at the most expensive tier, such as a bank account and debit card designed to help them learn about all things money. But Acorns has zero financial advisor access or tax tools and higher than average transfer fees.
Now that may sound like a lot, especially given that every other broker on this list charges $0 in maintenance and activity fees, but it's worth some context: While some of the brokers on this list offer robo-advisors, those services tend to carry higher minimums. Take Charles Schwab's roboadvisor Intelligent Portfolios, for example, which requires a $5,000 account minimum.
Acorns also offers debit and banking features, along with a gift link for grandparents or other family members who want to put money into the account.
The obvious trade-off is the monthly fee, which can affect smaller balances. Also worth mentioning: Acorns is newer than most brokerages on this list, so if you'd feel better going with a more established broker, this may not be a great fit for you.
Automated, recurring investing via a robo-advisor.
1% match on contributions of $7,000 or more.
Does not offer custodial IRAs or 529s.
Shareable gift links for family contributions.
Monthly $12 fee applies.
If a robo-advisor sounds more like your speed and you’re comfortable fronting a larger account minimum or would prefer to go with a more well-established company, E*TRADE’s “Core Portfolios” can also be a good option. Unlike Acorns, there’s a $500 minimum to start, but the annual fee of 0.30% (on a $2,000 investment, that amounts to $6) may be less than what you'd pay monthly to access Acorns Early. A big plus here is that, while Core Portfolios doesn’t come with a dedicated advisor, clients can consult with investment advisor representatives who hold Series 7 and 66 designations.
Unpaid non-client promotion
If you’re after a robo-advisor portfolio with actively managed mutual funds, E*TRADE from Morgan Stanley is a strong option. Otherwise, you may be able to get more for less from a competitor, particularly if you hold a high balance in a taxable account.
Best for the advanced trading parent: Interactive Brokers
Interactive Brokers may not be the best choice for most parents or custodians, but if you're an experienced investor, it may be worth a look. The platform offers a wide range of investments, fractional-share access to over 15,000 stocks, and many more transaction-fee-free mutual funds than any other provider on this list. If you have a strong sense of how you want to invest for your child and feel comfortable navigating robust platforms, IBKR gives you the tools to do so.
2026 Best-of Award winner: Interactive Brokers is NerdWallet's pick for the best online broker for advanced traders. Don't let the name fool you: IBKR Lite offers commission-free stock trading (including international trade capabilities), more than 21,000 mutual funds, and a well-featured platform.
The tradeoff is that this access comes with complexity. The platform may be overwhelming for some people. IBKR also doesn’t offer other accounts for kids, like custodial IRAs or 529s.
Fractional shares available.
Big selection of no-fee mutual funds.
Does not offer Roth IRAs for kids or 529s.
Good educational resources.
Worth a look: Vanguard and Merrill Edge
The brokers above are my top picks, but they're not the only providers worth highlighting. Another broker might be a good choice — especially if you’re already happily using them for another service. Two other custodial brokerage accounts to consider:
Vanguard is a widely known and trusted broker. Its founder, John Bogle, pioneered index fund investing, and the company remains well known across the industry for its low expense ratios. However, Vanguard's platform (both mobile and desktop) is more bare-bones than those of the others on this list.
Vanguard is the king of low-cost investing, making it ideal for buy-and-hold and retirement investors. It offers a top-notch selection of proprietary, low-cost mutual funds, including many ESG options. Despite its $0 online stock trade commission, active traders will find the broker falls short due to the lack of a strong trading platform.
Merrill Edge may be a good choice if you’re already a Bank of America customer and are seeking to minimize the number of companies in your financial rolodex. When it comes to custodial accounts, it's a solid choice, but it doesn't offer any noteworthy perks that stand out from the rest of its cohort.
Merrill Edge's extensive research and educational offerings, its Idea Builder investment-finder tool, and its seamless integration with other Bank of America accounts make it a solid choice for beginner investors.
Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.