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FOREIGN EXCHANGE MARKET: A teenager from Tottenham has made £60,000 after teaching himself to trade currency

A 16-YEAR-OLD boy has made £60,000 in less than a year after teaching himself how to trade currency using YouTube videos.

Edward Ricketts, who believes he is the youngest Forex trader in the UK, became interested in the industry after coming across a post from a Foreign Exchange Market trader bragging about how he was making lots of money, Metro reported.

Edward asked the trader for advice on how to follow in his footsteps but he was told that he wouldn’t be able to make a success of it without formal training.

A 16-year-old has managed to turn £150 into over £60,000 in less than a year thanks to his smart currency trading.

Edward Ricketts, a college student, says he used to watch a Foreign Exchange Market (also known as Forex) pic.twitter.com/TQG8kr3ZHG

— XM Partners (@XMCOM4U) April 22, 2019

PICTURED: Edward Ricketts

Undeterred by the trader’s comments, starting with just £150, Edward taught himself how to successfully buy, exchange and sell global currencies for profit by watching hours and hours of YouTube videos on the subject.

Keeping an eye on the news, especially Brexit, has helped Edward to generate significant returns on his investment.

“I have to take an interest because the pound is affected by Brexit and I have been taking advantage,” Metro reported Edward said.

He also makes extra money by charging clients more than £100 at time for his trading tips.

The teenager, who is from Tottenham and lives with his single dad Oscar Ammad, and older brother, Earnest, and older sister Anita, wants to pay for them all to travel to America for a holiday.

For himself, Edward, who studies a business course at college, has spent some of his cash on designer goods but he’s saving to buy a Mercedes A-Class, once he’s old enough to drive it.

“My main goal is to just keep saving. I want to go into property investment when I’m older,” Metro.

“But money does make me happy. I never had much money growing up, as a kid. I had to ask my parents for money," he added. “I want to be independent and be able to pay for my own things.”

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