Limitations on fidelity youth app
Main Problem:
- The user, kai, is unable to trade foreign securities, specifically wanting to invest in Spotify, due to account authorization limitations on their Fidelity Youth Account.
Solutions Discussed:
- Fidelity Emily explained that Fidelity Youth Accounts restrict trading to certain US stocks, mutual funds, and some ETFs, and do not allow foreign stock or currency trading.
- There is no option for the user’s parent to disable these limitations on the youth account, as it is a part of Fidelity’s system.
- Other users, like Almond, confirmed the restrictions and shared similar frustrations regarding trading options and foreign stocks.
Here’s the full thread
Hi, I was wondering if there is a way to enable certain trades that it says my account is not authorized for. I want to invest in spotify but it says I am not authorized for foreign security trading.
Thanks for reaching out to us, @kai.. We appreciate your patience while we got back to you on this.
Fidelity Youth Accounts allow teens to buy and sell only certain publicly traded securities in the United States but do not allow trading of foreign stock or currency.
Teens can invest in:
• Fidelity mutual funds
• Most US stocks
• Some exchange-traded funds (ETFs)
You can find additional information, specifically on trading limits, under the “Investing, trades, limits” section of our FAQ below.
Fidelity Youth Account FAQs: https://www.fidelity.com/go/youth-account/faqs
Please let us know if you have any further questions. We’re happy to help! 🟢
Is there any way for my parent to turn off these limitations?
hi, not sure if I’m allowed to be speaking here but its part of fidelity’s system, your youth account is a another type of account that isn’t able to access certain things, so theres no way. Ive also wanted to try options and foreign stocks so i already stumbled across this
Thank you
yeah i got that error too when trying to buy rolls Royce 😔
and you can’t buy penny stocks