I think that if anyone is going to be able to fully understand what I’m looking for in a broker then they’ll have to know that I’m under 18. I’ve been avidly following the markets and for over 4 years and I’ve been trading the stock market, and Forex on many demo and virtual accounts for about the same amount of time. Over the past 4 years I’ve improved immensely from where I first started and I now have a strategy and a set of rules in place that I’m familiar with and that has a very positive expectancy. I want to make it clear that I will be opening up an account regardless of anyone says. Nothing you can say will dissuade me from doing so, so please don’t try and tell me to wait until I’m 18 or that I shouldn’t attempt to trade with real money at my age.
I'm looking for a broker that accepts US citizens and has very few or no rules regarding setting up an account, getting that account verified and moving money in and out of that account. I'm aware that the companies that usually have the easiest registration and verification processes tend to be unregulated and potentially a scam broker. However It will be far more difficult for me to set up an account if I go with a well regulated broker that requires lots of information to verify that you meet the legal requirements to open up a trading account. I can easily obtain most of the things that I would need to open up an account with most brokers, such as a driver license photo, proof of residency, etc. However the real problem is with funding the account and removing money quickly and easily. I can't fund the account directly through my bank account for various reasons, however I can fund it through my debit card through some brokerages that have a more lax policy towards funding your account and making withdraws from it. Now that I've given you a better understanding of what the current problems that I face are, here's my list things I'm looking for in a broker ordered by importance:
• A legitament broker (not necessarily regulated) that doesn't scam you, or steal from your account.
• Ease of transferring money to and from the account.
• Easy registration verification process that doesn't require a lot of proof to show that you're at least 18 to start trading.
• At least 200x leverage offered
• A low minimum account funding level preferably under $100 however, I have the ability to fund the account with up to $2000 if necessary.
• Reasonable spreads that don't spike to outrageous levels when volatility is high (or fixed spreads offered).