https://www.interactivebrokers.com/en/index.php?f=46380#open-account

MEXEM provides UGMA/UTMA accounts to individuals or entities who wish to maintain an account for a minor until that minor reaches a certain age. Both are custodial account set up under the rules of a state’s Uniform Gift to Minors Act or Uniform Transfer to Minors Act. These accounts can offer tax benefits and contributions are generally considered irrevocable transfers. Important account attributes include:

  • Only Cash type accounts are offered, no margin type;
  • Available to U.S. residents only; and
  • Accounts can only be managed by a single user.

Note: As MEXEM does not offer tax advice or guidance, we recommend that donors consult with a tax and/or estate specialist before setting up a UTMA or UGMA account.