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How to Trade Stocks under 18

Discussion in 'Making Money' started by elavmunretea, Jul 2, 2016.

  1. elavmunretea

    elavmunretea Elite Member

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    What is the best way to begin trading stocks under 18? I have been using the practice account on Trading-212, and I've made a decent amount of money trading small scale.

    I was wondering what the best way to start trading stocks is for under 18's, as all online services I have seen require you to send ID, yet I have read success stories about people becoming millionaires whilst still in school.

    I have done a bit of research into this and the best way, at least in the UK, is to set up and ISA account, and give a your parent/ guardian control over it, so 'they' can buy stocks. The only issue with this is that there is a cap on how much you can put in the account per year, which is a measly 4k at most banks

    So do you have any suggestions or experience with this?
     
  2. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

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    Open account in your dad name and use your own fund to trade. I also provided my dad ids when i was under 18
     
  3. elavmunretea

    elavmunretea Elite Member

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    Surely then he would have to Pay tax on my trades also? As I would be trading uner 40% tax I would have to pay less, but he would pay much more
     
  4. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

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    Yes he need to pay tax and but at least you will get a 60% profit. In my country it slab rate system for taxation for each individual so its little different here. I don't know about your country. or use fake ids ? :)
     
  5. toxic08

    toxic08 Regular Member

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    The best way to start/learn to trade? For me, I suggest you start cryptocurrency exchange. I suggest poloniex for their user-friendly interface.

    You will learn a great amount of knowledge in trading; you can train your candle predicting skills, learn to decide short-term or long-term, and all of the almost similar factors of stock trading.

    All of this in a very low price, earning real amount of money and the experience of losing your money without hefty requirements.
     
  6. blommas

    blommas Senior Member

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    Where did you learn about stock trading? I'd love to try it out for fun
     
  7. elavmunretea

    elavmunretea Elite Member

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    I used the website HERE, they give you a simulated account with 10,000 of whatever currency you would like. There are others like it out there, this one just caught my eye.