SGX to lower minimum age for opening stock trading accounts
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Crappy news. What are they doing to our teenagers ??
SINGAPORE : From May 14, investors as young as 18 years old will be able to start trading shares in Singapore.
A Singapore Exchange (SGX) spokesperson told TODAY that with an amendment to its rules, brokerages can now follow suit and allow younger people to open stock trading accounts.
The Central Depository Limited (CDP) lowered its minimum age limit from 21 years old for opening CDP accounts back in March.
But those in the 18-21 age group found it pointless opening a CDP account if they cannot open a trading one.
In Singapore, to trade stocks, an investor must have both a CDP account and a trading account with a securities company.
David Gerald, president of Securities Investors Association of Singapore (SIAS), said he was pleased with how quickly SGX came forward to amend its rules.
However, he cautioned: "If these young investors were to start trading in the market, they must be equipped with the essential education and knowledge."
He urged all first-time traders to undergo investor education before dabbling in the markets.
Concerned parent Priscilla Lau, an accounts executive whose children are aged 16 and 17, said she will discourage them from trading at such a young age.
Her reason: "At 18, both my kids are still not earning their keep. So where will the capital for trading come from? Do they even know what market risks are?" - TODAY -
money money money.. haiz..
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It's easier to bankrupt the naive teenagers and make the parents pay for it.
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Wha, like this mean hor, all colleges, Universities and even army camp or our youth camps will have stock results everyday, all will be busy trading instead of concentrating on their studies and duties.
Lecturer: ok, any questions??
Students: Yes, Mr Lim, can we hv a recess to see our stocks situation or will you be kind enuf to show us the current Keppel shares on the screen?
Lecturer: Damn it, I should hv listen to my dad advise and be a broker
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can open cannot trade wats the pt
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Originally posted by ctstalin:
can open cannot trade wats the pt
can open give daddy use our name mah, i guess for teenagers, it should be tax free, so daddy use our name and earn profit tax free..yeah!! -
To TS,
I wonder would this help the stock market to chiong?
but young investors must be warned of the risks too.
Too many have gone in with greed and come out a thin puppy.
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I merely copy and paste from CNA forums :D
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so easy to win
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I think most 18 year olds would prefer to have the option of watching R21 movies legally.
But that's just me.
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I can imagine 18 year olds all talking about PE ratios and book value of companies next time they hang out at fast food joints.
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Originally posted by charlize:
I can imagine 18 year olds all talking about PE ratios and book value of companies next time they hang out at fast food joints.
Can u imagine them talking about evening doji stars or MACD or 200 EMA as well?
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Know so much about stocks but fail their ITE/poly/uni exams.
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if no money, lower the limit to 15 yrs old oso no use leh
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I know of a guy who plays stocks at quite young age, he is the champion for one of the stock challenge I have participated.
He earns a return of 20x in just few weeks. Don't know he hacks the system or got the genuine capability to compound such a return.
Other than him, Warren Buffett plays stocks at the age of 12 (around there)
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Start at 18 is the best .
Need wait so long till 21.....
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thats good for the young to enter into the market
rather then wasting time on forum......
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More in the Bankruptcy Act in times to come?