7 Trump Accounts alternatives for saving and investing for your child
Trump Accounts became active on July 4, 2026, and they answer a narrow question: how do you get a $1,000 Treasury seed into an IRA for a child born between 2025 and 2028. Outside that window, the seed contribution does not apply, and even inside it the account is structured as a traditional IRA with a $5,000 annual contribution cap and ordinary-income taxation on withdrawals. Parents who want a wider investment menu, a Roth structure, an account they can open today for a five-year-old, or a college-savings vehicle end up looking for Trump Accounts alternatives.
This guide covers seven Trump Accounts alternatives that solve one or more of those gaps, ordered by how well they match a family that would otherwise open a Trump Account.
Quick comparison
| App | Best for | Free plan | Starting price | Standout feature |
|---|---|---|---|---|
| Fidelity Investments | Overall replacement | Yes | Free account | Roth IRA for Kids with no minimum |
| Charles Schwab Mobile | Custodial brokerage | Yes | Free account | $0 minimum, commission-free trades |
| Vanguard | Low-cost long-term growth | Yes | Free account | Signature low-expense index funds |
| Acorns | Hands-off automatic investing | No (Silver tier) | Modest monthly fee | Acorns Early UGMA with round-ups |
| Greenlight | Money lessons plus investing | Trial only | Family plan monthly fee | Kids' debit card with parent-approved investing |
| Stash | Fractional shares for beginners | No | Monthly subscription | Stash+ custodial with fractional stocks |
| SoFi | All-in-one banking and investing | Yes | Free account | Custodial brokerage inside a full-service app |
Why people look past Trump Accounts
The seed money has a hard eligibility window. The $1,000 Treasury contribution is only for children born 2025 through 2028. Kids born earlier or later can still have an account opened for them, but they receive nothing on the way in. For a family with older kids, a Trump Account is just a small traditional IRA the child cannot control until 18.
The $5,000 annual contribution cap is low compared to a 529. A 529 college savings plan accepts far larger annual contributions and lets a grandparent front-load five years of gifting in a single year without gift-tax consequences. Families planning for college prefer that headroom.
It is a traditional IRA, not a Roth. When the account converts to a traditional IRA at 18, the beneficiary owes ordinary income tax on withdrawals unless they qualify for a specific exception (education, first home). Parents who value Roth flexibility, tax-free qualified withdrawals in retirement, and easier early-withdrawal rules on contributions steer toward a Roth IRA for Kids instead.
Investment options are narrow. Balances are automatically invested in a limited set of qualifying long-term funds. A regular custodial brokerage lets a parent pick any ETF, mutual fund, or individual stock.
Setup requires an IRS Form 4547 election. Every other option below can be opened directly from a phone in a single sitting, with no separate tax filing required.
The alternatives
Fidelity Investments: best overall Trump Accounts alternative
Fidelity Investments is the strongest overall replacement because it offers three of the account types Trump Accounts does not: a Roth IRA for Kids (once the child has earned income), a UGMA/UTMA custodial brokerage that can be opened at any age with no eligibility window, and a Fidelity Youth Account for teens aged 13 to 17 that combines a checking-like experience with investing. All three have no account minimum and no monthly fee.
Fidelity vs Trump Accounts comes down to flexibility. Fidelity lets a parent choose from thousands of stocks, ETFs, and mutual funds (including several zero-expense-ratio index funds), and the beneficiary can hold the account into adulthood without a forced conversion event.
Where it falls short: A Roth IRA for Kids only works once the child has earned income, so it does not cover the youngest ages. The interface is dense and takes some learning if the parent is new to brokerage apps.
Pricing:
- Free: account opening, commission-free stock and ETF trades, several zero-expense-ratio index funds
- Paid: mutual funds outside Fidelity's no-transaction-fee list carry a transaction fee
- vs Trump Accounts: no annual contribution cap set by the federal program (IRS contribution limits still apply to the Roth), and the account is not locked to a birth-year window
Migrating from Trump Accounts: A Trump Account cannot be closed and moved out before the child turns 18, so a Fidelity account is opened alongside rather than in place of one. Once the child reaches adulthood, the traditional IRA can be rolled into a Fidelity IRA using Fidelity's standard rollover flow.
Bottom line: Pick Fidelity if you want the most flexible mix of custodial brokerage and Roth IRA for Kids from a large, well-known institution. Stay with Trump Accounts only if the $1,000 Treasury seed is the main draw and the child qualifies.
Charles Schwab Mobile: best for a $0-minimum custodial brokerage
Charles Schwab Mobile is the closest match for parents who want a straightforward custodial brokerage with no account minimum and no monthly fee. The Schwab One Custodial Account and the Schwab Roth IRA for Kids both work the same way from the app: fund the account, buy stocks or ETFs commission-free, and let it grow until the child comes of age.
Schwab vs Trump Accounts is a simplicity trade. Trump Accounts do the picking for you; Schwab hands the wheel to the parent. Schwab's fractional-share program (Schwab Stock Slices) lets a parent buy small pieces of expensive stocks like Berkshire Hathaway or LVMH, which is useful for a small starter contribution.
Where it falls short: The mobile app is functional rather than delightful, and setting up a custodial account still requires paperwork verification (SSN for the minor, parent identity confirmation). Schwab does not offer as many kid-focused educational features as Greenlight.
Pricing:
- Free: account opening, commission-free stock and ETF trades, Schwab Stock Slices fractional shares
- Paid: options contracts carry a per-contract fee, and some mutual funds have transaction fees
- vs Trump Accounts: no age cap on when the account can be opened, and the beneficiary is not forced into a traditional IRA structure at 18
Migrating from Trump Accounts: Same story as Fidelity. A Trump Account cannot be closed before the beneficiary turns 18, but a Schwab custodial account can be opened in parallel. Rolling the eventual traditional IRA to Schwab uses their standard IRA transfer process.
Bottom line: Pick Schwab if you want a no-minimum, no-fee custodial brokerage with a solid selection of investments. Stay with Trump Accounts if you want the government to make the fund selection for you.
Vanguard: best for low-cost long-term compounding
Vanguard built its reputation on rock-bottom expense ratios, and that is exactly what a decades-long custodial account benefits from. Vanguard UGMA/UTMA custodial accounts hold the same low-cost index funds and ETFs Vanguard is known for, and the Vanguard 529 plan is a strong sibling option for parents whose main goal is paying for college rather than seeding retirement.
Vanguard vs Trump Accounts is a compounding argument. Over the two-decade horizon of a young child's account, the difference between a 0.03% index fund expense ratio and even a 0.30% fee compounds meaningfully. Vanguard is where families sit when they plan to hold for 15 or 20 years.
Where it falls short: The Vanguard app is not as polished as Fidelity's or Schwab's, and account setup is more paperwork-heavy. Fractional-share trading is limited compared to Schwab or Fidelity, so small first contributions can be awkward.
Pricing:
- Free: account opening, low or zero expense ratios on Vanguard index funds and ETFs, commission-free trades on Vanguard funds
- Paid: some non-Vanguard mutual funds have transaction fees
- vs Trump Accounts: significantly wider investment menu and no birth-year eligibility gate
Migrating from Trump Accounts: Same rules as the other brokerage alternatives. The Trump Account itself cannot leave the federal trustee before the child turns 18, but a Vanguard custodial account can start earning immediately.
Bottom line: Pick Vanguard if you plan to hold for 15 or more years and want the lowest expenses. Stay with Trump Accounts if you value a set-and-forget federal default fund choice over hunting for the best index fund yourself.
Acorns: best for hands-off automatic investing
Acorns takes a different approach: a parent barely has to think. Acorns Early is a UGMA/UTMA custodial account that automatically invests spare change from linked cards, plus scheduled recurring contributions, into a diversified ETF portfolio matched to the child's timeline. It sits inside the same Acorns app the parent already uses for their own investing and banking.
Acorns vs Trump Accounts is set-and-forget vs set-and-forget with different mechanics. Trump Accounts pick the funds and require manual contributions; Acorns picks the funds and automates the contributions too. For families who struggle to remember to fund a brokerage account, Acorns is often the account that actually gets funded.
Where it falls short: There is a monthly subscription fee regardless of account balance, which can eat into small balances in the first year. Acorns Early is only available on the higher-tier Acorns plans.
Pricing:
- Free: none (Acorns is subscription-based)
- Paid: monthly subscription tiers include the Acorns Early account on the middle and top tiers
- vs Trump Accounts: no birth-year restriction, and contributions can be much smaller and more frequent (round-ups start at pennies)
Migrating from Trump Accounts: Open Acorns Early in parallel. There is no direct transfer path because the Trump Account is locked with the federal trustee until adulthood.
Bottom line: Pick Acorns if the risk with your family is forgetting to contribute rather than picking the wrong fund. Stay with Trump Accounts if you already contribute reliably and prefer a fee-free structure.
Greenlight: best for money lessons plus investing
Greenlight is the option for parents who want the child involved in the process. It pairs a kids' debit card with chores, allowances, savings goals, and a parent-approved investing feature that lets the child pick from a curated list of stocks and ETFs while a parent approves every trade.
Greenlight vs Trump Accounts is engagement vs autopilot. Trump Accounts run silently until the child turns 18. Greenlight puts the child in the driver's seat starting around age eight, so by the time they reach the age Trump Accounts opens up, they already have a decade of practice with money.
Where it falls short: Greenlight is a family subscription with a monthly fee, and the investing feature is a UGMA/UTMA custodial layered on top rather than a full-featured brokerage. Fractional-share support and fund selection are narrower than Fidelity, Schwab, or Vanguard.
Pricing:
- Free: only a short trial
- Paid: monthly family subscription tiers, with higher tiers unlocking the investing feature and additional protections
- vs Trump Accounts: the value is the parenting toolkit as much as the investment account itself
Migrating from Trump Accounts: Same pattern. Trump Accounts stay federal until the child turns 18, so Greenlight is opened alongside for hands-on learning rather than as a swap.
Bottom line: Pick Greenlight if you want the child learning by doing. Stay with Trump Accounts if you would rather the investment be invisible until adulthood.
Stash: best for fractional-share simplicity
Stash makes the barrier to entry the smallest of any option here. A parent can open a Stash+ custodial account and start with a single dollar in a fractional share of a household-name stock or a themed ETF. The parent-and-kid framing is baked into the interface, with themed collections that align with a child's interests (video games, streaming, food brands).
Stash vs Trump Accounts is about what actually gets a family started. Small contributions in a familiar app usually beat larger contributions in an unfamiliar one. Stash is where families who feel intimidated by Fidelity or Schwab actually pull the trigger.
Where it falls short: Stash's subscription fee is significant relative to a small balance, and the investment menu is narrower than a full brokerage. Portfolio management tools are simpler and give less room to change strategies as the balance grows.
Pricing:
- Free: none (Stash is subscription-based)
- Paid: monthly subscription plans, with the higher tier including the Stash+ custodial feature and additional benefits
- vs Trump Accounts: no eligibility window and no cap on how many custodial accounts you open for multiple children
Migrating from Trump Accounts: Open Stash+ alongside. Trump Accounts remain with the federal trustee until the beneficiary reaches 18.
Bottom line: Pick Stash if $1 in a fractional share of a stock the child recognizes is what turns intention into action. Stay with Trump Accounts if you would rather the fund selection be someone else's problem.
SoFi: best for combining custodial investing with everyday banking
SoFi pulls checking, savings, investing, credit, and lending into a single app, and SoFi Invest supports custodial brokerage accounts alongside that ecosystem. For families who are already SoFi customers, adding a child's custodial account means one fewer login rather than an entirely new relationship.
SoFi vs Trump Accounts is about consolidation. Trump Accounts add another provider, another login, another statement. SoFi keeps everything in one place, which for a lot of parents matters more than optimizing expense ratios.
Where it falls short: SoFi's investment menu, while broad, is not as deep as Fidelity, Schwab, or Vanguard for research tools or fund selection. Some SoFi products are geared toward US customers with earned income and credit history, so eligibility for certain features can vary.
Pricing:
- Free: account opening, commission-free stock and ETF trades, no maintenance fees on the core accounts
- Paid: some advanced products (loans, robo portfolios) have their own fee structure
- vs Trump Accounts: no eligibility window, no federal paperwork, and the child's account sits next to the family's other SoFi accounts
Migrating from Trump Accounts: Open a SoFi custodial account alongside. Trump Accounts stay with the federal trustee until the beneficiary turns 18, at which point the resulting traditional IRA can be rolled into SoFi via the standard IRA transfer process.
Bottom line: Pick SoFi if your family already lives inside one bank-and-invest app and adding another provider is what usually gets in the way. Stay with Trump Accounts if you would rather the child's investment stay siloed from the household's day-to-day money.
How to choose
Pick Fidelity Investments if you want the most flexible combination of custodial and Roth-IRA-for-Kids products with no minimums and a large fund selection.
Pick Charles Schwab Mobile if a simple, no-minimum custodial brokerage with fractional shares is enough.
Pick Vanguard if the plan is to hold for 15 or more years and squeezing out fund expenses is the priority.
Pick Acorns if forgetting to contribute is the real risk you want to solve.
Pick Greenlight if you want your child engaged with money decisions from a young age.
Pick Stash if starting with a very small amount and buying recognizable brands is what will actually get you moving.
Pick SoFi if consolidating everything into one banking-and-investing app matters more than optimizing every product choice.
Stay with Trump Accounts only if your child qualifies for the $1,000 seed and you value the federal default fund selection.
FAQ
What is the best Trump Accounts alternative?
For most families, Fidelity Investments is the closest overall replacement. It offers a Roth IRA for Kids (once the child has earned income) and a UGMA/UTMA custodial account with no minimum, no maintenance fee, and a large selection of investments. Vanguard is a strong runner-up if long-term expenses matter most.
Can I open a custodial account for a child who does not qualify for a Trump Account?
Yes. Any US resident child with a Social Security number can be the beneficiary of a UGMA or UTMA custodial account at Fidelity, Schwab, Vanguard, Acorns, Stash, Greenlight, or SoFi, regardless of birth year. Only the Trump Accounts $1,000 seed is limited to children born 2025 through 2028.
Is a 529 plan better than a Trump Account for college?
For college specifically, yes. A 529 accepts far larger annual contributions, grows tax-free, and allows tax-free withdrawals for qualified education expenses. Vanguard, Fidelity, and Schwab all offer 529 plans that can be opened in parallel with a Trump Account.
Can I roll a Trump Account into a Roth IRA?
Not directly. A Trump Account becomes a traditional IRA when the beneficiary turns 18. From there, the beneficiary can do a Roth conversion under standard IRS rules, but the converted amount is taxable in the year of conversion.
What is the cheapest Trump Accounts alternative?
Fidelity, Schwab, Vanguard, and SoFi all charge $0 to open a custodial account and offer commission-free trades on stocks and ETFs. Fidelity and Vanguard are notable for having zero-expense-ratio and near-zero-expense-ratio index funds, which lowers ongoing costs to almost nothing.
Do I have to close the Trump Account to use another option?
No. A Trump Account can sit with the federal trustee earning its default returns while a parent contributes to a separate custodial or 529 account elsewhere. Most families end up with at least two vehicles running in parallel.
