Minimum Age for Opening Brokerage Account to Be Lowered to 18

Politics Lifestyle

Tokyo, March 28 (Jiji Press)--Securities firms in Japan are set to lower the minimum age for opening accounts for stock investment without parental consent to 18 in April, in line with the reduction of the legal age of adulthood in the country.

The legal age of adulthood is set to be lowered from 20 to 18 in April.

Meanwhile, major banks are cautious about lowering the minimum age for taking out credit-card loans from the current 20 to 18.

The lower minimum age for opening securities accounts would allow people to start building up assets through investments in stocks and mutual funds earlier.

At the same time, there is a risk of suffering large losses after investing in financial products with large price fluctuations in an attempt to make fast gains.

[Copyright The Jiji Press, Ltd.]

Jiji Press