Have you looked at any brokers websites to see if they allow it?
most of the brokers i don´t find this INFO and the problem is i don´t know so much brokers
There is a broker section of this forum. Also, Google is a tremendous tool.
No chance that a broker will accept you as client if you have 17 years.
One of your parents should open an account for you, but it is necessary that the debit card/bank account is on their name. Remember, you can only withdraw money if the card/bank account to which the money is going, is the same with which you deposited in the beginning.
Good luck!
Regulated brokers won’t allow you but wait until 18. You have one year to study and practice because it takes years to be in the zone. Trust me you will lose your account in a copole of days. When it happens please don’t cry like a baby and don’t lie to your parents when it happens. It will happen, just start with 100 usd and say goodbye to it. Whe all here learned that way. I was about to walk away but i’ve found babypips school, i’ve read it and gave it another shot. I recommend you to read Trading in The Zone by Mark Douglas.
One other thing. Serious brokers does not accept debit nor pre paid cards so forget it.
Regards.
Hey panzerdeni,
I really hope you know what you’re doing if you are going to be trading live. I myself just turned 18 in June so I might be of some help. I traded equities since I was 14-15 and the only way you can possibly trade is through your parents’ name. Brokers, banks will not open an account for minors. With that being said, you will not be able to deposit any money directly to your own bank account, debit card, etc.
The only way you can withdraw is take it out into your parents’ bank account and then have them give it to you. That’s the only way you can do it. Also, you need to tell your parents they will also face tax implications as a result of your trading. It’s only fair that they know what you’re doing considering you are trading under their name, which by the way is also not allowed, but I don’t see how they could find out.
Best of luck with your trading, I’m not too sure I would go live with the amount of experience you currently have right now. As for brokers, I would suggest Alpari UK. I think you will find them to be pretty good for a retail trader. They are also MT4 compatible which is quite universal amongst other brokers now. I don’t suggest trading with FXCM or Forex.com (bad reviews and big lawsuit). Stick to the bigger, most established brokers like IBFX, GFX, Alpari UK, and Oanda, etc This way, you won’t find any problems during your trading.
Edit: I also have to agree with the other member’s response to your question. You seem like you have just started and may not be taking this seriously. You don’t have much experience, and no reliable broker will accept a prepaid card or a debit. Trading is a serious business, not a hobby, and you should treat is as such. If you are planning on staying in the long-run then do it right. Sorry for being blunt, but it may just save you a couple hundred dollars. I’ve personally never blown out an account before, but I hear many have and almost “accepted” by most traders. Although I would disagree, it can always happen depending on many factors and variables you may not be aware of at this time.
Regards,
Clark
Panzer Share your trading strategy! We can help prepare you for going LIVE!!!
i don´t think i have the best strategy but is kind of working for VIRTUAL MONEY
i don´t know how to explane it in english or spanish cuze i am not spanish or english speacking but i will try
100% - sell/buy 20%-10% and take profit when is 10%-5% EUR/USD GBP/USD GBP/EUR most EUR/USD
DON´T LAUGH I TRADE WHIT DEMO FROM ONLY 1 - 2 mounts not evry day and i don´t read even a book only part of the scool in Babypips and it help me but i don´t understand some of the thins
Sorry for my bad english
Best REGADS
The 5/10% rule is mainly for commodities trading I think your referring to such as once your trade makes 10% immediate sell it. However forex is very liquid so its not really applicable
Hi Panzerdini,
FXCM accepts account holders that are older than 18 years of age. Once you turn 18, then you can feel free to PM me and I’d be happy to provide the tools you need to get started at FXCM.
Cheers,
- Jason
i tried to trade my money to a friend of mine. i dont like to trade my money to a broker.i much preferred independent broker.
i also have strategy in eurusd and gbfusd…that can help you with that…
think million times before you trade your money that you can trust. i will give you a daily recommendations eurusd and gbpusd.