Trading for teenagers

[Blubell46]

My ds would like to know more about trading and we have agreed to work with him so he can learn...the upside being he will learn more

Is it possible to email me some sites? He was suggested trading 121

Etoro virtual money.

I use trading 212, it's been fine. I know some more serious investors complain about the spread or time it takes to make a trade but for smaller amounts it's been great. It has an easy to use app to which also appeals!

@grumpypug thank you so much- our son wants to learn and I want something easy to learn and we can do it together...that will be our Christmas setting up.

Am assuming it has an app and user friendly?

I would proceed with caution. There are many many FOREX traders etc that have luxury instagrams and can easily entice people into their scams.

I think it would be good to start with the risks involved in investing, as in he could lose all of his money, and trading requires skill and A LOT OF LUCK.
Maybe set up a dummy portfolio so he can se how it works, and how easy it is to lose money on a bad trade.

Stay away from any leveraging bets.

@fromdownwest thank you . The idea is he wants to read more on businesses and then discuss his ideas with us before any trading is made. As for how much...we will start will a very low amount.

Thank you

There is a lot of difference between buying some shares and “trading” CFD. I suspect your son is interested in the second. CFD are complicated products: www.investopedia.com/articles/stocks/09/trade-a-cfd.asp

They aren’t easy -you need to understand margin calls (and be able to make them) and that you can lose (considerably) more than your original investment. The account might also have to be in your (parent’s) name given his age - which might expose you to any losses he makes.

If he is interested - buying shares/funds might be a better intro to investments.

@grumpypug hi just downloaded the trading 212 and they have a waiting list...that is a shame!

Has anyone used Etoro?

[quote Blubell46]@grumpypug hi just downloaded the trading 212 and they have a waiting list...that is a shame![/quote]
Aw, that is a shame. It's quite an easy to navigate app.

Never heard of S&S!
Be careful!
For a good deal try Fineco stockbroking.
Check FCA registration in all cases, but it does not necessarily mean that all are honest or reputable.
Look up Warren Buffett on YouTube. He is the world`s greatest investor and everything he says is reliable.
Avoid complex schemes. Most are worse than gambling and are designed to enrich the organisers, not you!
Join an investment club if you can. It may be difficult, as many may not welcome unknown newcomers, just in case!!!

Waiting List??? Avoid!!

Approach a PROPER stockbroker!!

I use Freetrade and Trading 212. I prefer Freetrade personally but I know Trading212 have a practice account. I have made 14 % on both apps (much better than any bank) at the moment but always be aware that stocks can go up or down. I have invested in a few ETFs and trusts as well as individual stocks. There are some good books to read and some good people on YouTube to follow (check out Panda Boss, Money Unshackled and MamaFurFur). If you want to sign up to Freetrade I have a referral link where we would both get a free share which would be a good starting point. DM me if you're interested.