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Is it possible to invest in Forex if I'm under 18?
I have a custodial account with OptionHouse and have been trading stocks with them since about 6 months ago , I'm 15 . I enjoy investing in companies and have been learning a lot , but I would like to invest in Forex . I have been looking for a custodial account for Forex trading but I can't seem to find one.
5 Answers
- JerryLv 76 years agoFavorite Answer
Not a good idea.
While forex is a real and huge market, the vast majority of forex schemes (robots, binary options, copy trades, expert advisor) marketed to novices are just SCAMS. Please read the US regulatory warning below.
- OPMLv 76 years ago
You have to be 18 because they all require margin agreements and that isn't legal with a custodial account. They are designed, in the US, to be highly leveraged tools that are usually rigged for you to lose. Because you are required to borrow money in those accounts you can lose more than you put in and be required to pay them out of you paycheck every month, potentially forever.
Stay away.
Source(s): I am a professor of finance and I have been an officer in a securities firm. You have no business in forex. - How do you think about the answers? You can sign in to vote the answer.
