I am interested in investing and know what I am doing, but all the sharedealing bank accounts etc require you to be 18... is there any way I can get round this? Many thanks
2006-09-28 04:14:16 · 10 answers · asked by wildebeest 1 in Business & Finance ➔ Investing
There's no way round it. Legally you cannot own shares in the UK until you are 18. Your name can be added to the share register, but only as the second name. The first name must be over 18 and legally they own the shares. You will not be able to buy or sell, they will have to do the trading. They can buy shares with your money, sell and pocket the profit and there is nothing you can do about it.
Sorry, I know that's not what you wanted to hear. Anyone who opens a dealing account in your name when you're 16 will be prosecuted by the FSA. It isn't going to happen.
The only thing I can think of is that you might be able to get involved in a local Investment Club or even put together a fantasy portfolio and see what sort of 'fantasy' profit you can make over a 6 month period. I started young as well and it took me years to learn all the tricks and make a decent profit. I know you want to be able to buy and sell straight away but there is real value in spending a little while practising with a fantasy portfolio. It will make you a better trader when the law allows you to start using real money.
2006-09-28 05:11:43 · answer #1 · answered by popeleo5th 5 · 0⤊ 0⤋
Ehm..
Penny stocks, also known as cent stocks in some countries, are common shares of small public companies that trade at low prices per share. They are notoriously risky but if you follow a special method I've learned you can earn good money at almost no risk. This is the site I use: http://pennystocks.toptips.org
I definitely recommend subscribing to this site in particular. Very good research, quality stocks. I was a bit weary of penny stocks from all the bad hype they receive but this guy is pretty legit. He's put my mind at ease with a lot of the fears I've had. I especially like that he doesn't send out announcements left and right. I've signed up for other websites that fill my in-box with one company after the other. I don't know where to even start with so many choices in front of me! Nathan sends me one idea a week and that's all I need. Working so many hours during the week leaves me with very little time when I get home to start doing tons of penny stock research. I'm always eager to see what Nathan's next suggestion is each Friday and I love having time on the weekend to do my research.
As said above if you want to make money with penny stocks you have to follow some proven methods. This one in my opinion is the best: http://pennystocks.toptips.org
2014-09-22 07:20:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No! Ask a trustworthy and knowledgeable adult to do it for you, when you are 18 the shares can be transfered into your name,
In the mean-time, study "the form" buy an information magazine
such as Investors Chronicle, read the Financial Times (the pink newspaper) .Soak up as much knowledge as you can. Then you will have the confidence to trust your own instinct. Good luck to you! I hope you make a fortune! The stock-market needs new young investors like yourself.
2006-09-28 07:03:48 · answer #3 · answered by Social Science Lady 7 · 0⤊ 0⤋
They are right in a way - you will probably have to put it in your Mum's name but see if you can be granted a 'mandate' to trade - it might help you circumvent the rules preventing you controlling your share holdings - ie you can put a sell order in on stocks you own but that money will be paid into your mother's sharedealing account. If you're lucky she might give you it back or more probably she'll add to it to give you a little help along the way.
An entrepreneur eh?
2006-10-01 00:38:56 · answer #4 · answered by LongJohns 7 · 0⤊ 0⤋
Not at 16. However you can decide what you want to invest your money in and then get a prents or adult to do it on your behalf. Hope this helps, and good luck!!
2006-09-28 04:58:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
How much have you got to invest and where did you get the money. Answer those questions first
2006-09-28 04:15:51 · answer #6 · answered by Ya-sai 7 · 0⤊ 0⤋
Yes; you can tell your parents to invest the money on your behalf. When you reach your legal age; you can take over.
2006-09-28 04:40:10 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I am sure you will soon be contacted by a few extremely helpful gentlemen offering to invest your money on your behalf, probably based in Nigeria.
2006-09-28 04:16:49 · answer #8 · answered by Anonymous · 1⤊ 0⤋
thats like throwing money soaked in meat to a pack of starving dogs...
JUST DUMB
2006-09-28 04:15:47 · answer #9 · answered by Grin Reeper 5 · 1⤊ 0⤋
old enough to open an account with brokers and banks
2006-09-29 01:13:05 · answer #10 · answered by Anonymous · 0⤊ 0⤋