The world’s largest broker in terms of OTC forex trading volume, GMO CLICK Securities announced that the company will start to accept applications for opening Junior NISA account from January 2, 2016.
Junior NISA is a junior version of the Nippon Individual Savings Account (NISA), a tax-free small-investment system. It's designed to allow parents and grandparents to invest on a child's behalf and transfer their financial assets to children and grandchildren. They will be able to trade the account from April, 2016.
Under the account, parents or grandparents can trade stocks, IPO, and PO at GMO CLICK Securities.
They are allowed to invest up to 800,000 JPY per year, and profits and dividends acquired through the Junior NISA accounts will be exempted from the tax. Under the currency system, any trading fee will not be charged to the account.
(Source: GMO CLICK Securities)
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