16 and looking for financial advice

17yo here, I was on the same boat as you a year ago! Minors can not open a trading account in Canada. But what you can do is have one of your parents open an account in their name and give you access. I'd recommend opening a TFSA with their bank. Its really easy to open an account just book an appointment with their bank and you're good to go. The process usually takes a week to open the account after the appointment date if I remember.

Also trading fees are going to be a big hit if you start with a small account; with TD it's $9.99 commission fee with $25 every quarter. so I'd recommend starting with around $2000-5000 to make any real profit.

Also what sector are you looking to get into?

/r/PersonalFinanceCanada Thread