Question: Can college/high school students invest in Forex and CFDs online?
Regardless to the status of your occupation or school, if you are under 18 years old then you may not be able to open Forex trading accounts with majority of online Forex brokers in the world.
It is restricted due to regulatory reasons of the country where the broker is based in.
There may be some financial authorities that would allow investors under 18 to invest in Forex and CFDs though, you may need to contact each Forex broker to find out if the broker has got a way to offer their service to you.
Also Student ID is not also accepted to verify your personal information with any Forex brokers. You may need a document to prove your residential address and Identification Document issued by third parties.
Be aware of Forex brokers without a license
Also if a Forex brokers isn’t regulated or acquired financial licenses of any regulatory authorities, then they should be able to offer services to anyone because they are not restricted to do anything.
Of course, you are not recommended to invest your funds with them.
Know the risk before start investing
It is a common knowledge that you should never invest more than you can afford to lose.
With many of online Forex and CFD brokers, your loss is limited to the total investment amount.
Thus you won’t lose more than you transfer to these brokers in the worst case.
Make sure that you know the risks involved before start investing.
There are promotions that you can get investment fund to start with for free.
You can find the promotions that give away ‘free welcome bonus’ in the page below.
