To open a trading account, you must be the age of majority in your province or territory. In Ontario, this is age 18.
The investment firm or dealer you are working with will ask for a number of documents and information to open an account. You can learn more about opening a retail account from the Investment Industry Regulatory Organization of Canada’s (IIROC) brochure, Opening Your Retail Account.
If you want to open a retail account to buy stocks or save money for the benefit of a child, you can do so by setting up a trust account. There are different types of trust accounts. Your investment firm or dealer will still require information on the beneficiary. Speak to your advisor to set up this type of account and to understand what happens once the child reaches the age of majority.