Fidelity (149009) We’re Sorry, but Your Account Isn’t Eligible

On Fidelity, there may be restrictions on what you can invest in based on your account type and age.

A Fidelity customer recently posted about their experience trying to purchase the QYLD ETF with a youth account.

They received this error message from Fidelity:

(149009) We’re sorry, but your account isn’t eligible for securities that require a Designated Investments Agreement. These include leveraged and inverse ETFs that carry additional risk appropriate for advanced traders.

In other words, the Youth Account has restrictions on specific National Market System (NMS) securities, including shares of real estate investment trusts, convertibles, and leveraged and inverse ETFs.

If you have a Youth Account with Fidelity, these are the things you can buy and sell in your account.

Once you reach the age of 18 and are eligible for a brokerage account, you’ll have fewer restrictions and can begin to explore more advanced investment options.

Diego, a seasoned financial analyst in New York, brings a decade of expertise to guiding financial decisions. As a blogger for UseFidelity.com, he simplifies finance, offering insights on Fidelity Investments. Beyond numbers, he explores NYC's culture and enjoys capturing moments through his photography.