Charles Schwab has launched the Schwab Teen Investor account for young people aged 13 to 17 years old. The account is structured as a joint brokerage account with a parent or legal guardian and comes with no minimum deposit, no commissions on listed equity trades, and no account fees. Teens who complete an online investing education course within 45 days of opening the account will receive $50 in fractional shares. Notable features include a New Investor Content Hub with educational videos and resources from Schwab Moneywise, the Charles Schwab Foundation’s financial literacy program, and the thinkorswim trading platform. Parental oversight allows both the teen and parent to trade and move money in the account. The launch is supported by Schwab's own survey data, which found that 70% of teens are very interested in investing and 73% of parents believe it is important for their teenagers to learn about investing.