How it's possible a 10-15 years old kid can create a new account on centralized exchange? any centralized exchange have a rule about minimum of 18 years old, so when he want to verify his account, the exchange wouldn't accept it.
I only know if bank and securities do accept minor, as long as he has give his parent's permission. I never heard any centralized exchange do accept minor, a kid doesn't need to learn about trading too because it's risky.
Topic: Is it legal for our kids to learn trade? - page 12. (Read 1228 times)
I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.
It's not an issue, and it's a good learning point at that age on how he can save his money and spend it wisely. If ever he has some savings and he'd rather use it on trading then, what is wrong with that? It's better than just buying the premium on some console games, and who knows if he could increase his money by trading. I say, just guide him. You should not stop a kid that is already willing to do it, maybe he is just different from others and just needed some guidance to learn more. I'd prefer that way, than gambling or spending in Robux which most kids play now. There are no returns from those platforms.
You know how risky that is, it is very risky. Are the trading site accepting under 18 years? Including those like Kucoin that do not require KYC? I have not checked that out before to know if under 18 people can use those centralized exchanges, but there are decentralized option too.
Do not encourage him, but if he continues to seek for your help, first start with all the disadvantages of trading, there are real life cases of people that have lost millions to trading and regretted about it, you need to show him all these to let him know where to start and what to avoid.
After he knows about that, you can teach him, I know risk management is another topic you will teach him to let him know how to manage his risk and about what to avoid financially also.
Do not encourage him, but if he continues to seek for your help, first start with all the disadvantages of trading, there are real life cases of people that have lost millions to trading and regretted about it, you need to show him all these to let him know where to start and what to avoid.
After he knows about that, you can teach him, I know risk management is another topic you will teach him to let him know how to manage his risk and about what to avoid financially also.
I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.
Jump to: