- Teenager, 16, made more than £60,000 in eight months trading currency online
- Edward Ricketts, from Walthamstow, east London, started with £150 in savings
- He then watched YouTube videos on money trading for up to five hours a day
- He now has 100 clients willing to pay him £155 a time for his tips on the markets
A teenager has turned £150 into more than £60,000 in just a few months by playing the money markets – using tips he learned online.
Edward Ricketts, 16, developed a knack for trading after he saw a foreign exchange expert on Instagram boasting of high earnings, flash cars and designer clothes.
The ambitious business studies student asked him for advice and was told he would never succeed without formal training in currency dealing.
To prove him wrong, the teenager spent up to five hours a day watching YouTube videos on how to make money by buying and selling global currencies online.
In just eight months he has turned his £150 savings from a summer job into £61,000 by monitoring the money markets. Edward – thought to be the UK’s youngest foreign exchange trader – made his biggest gains by following the news.
The teenager, who lives in Walthamstow, East London, with father Oscar, a 54-year-old security guard, and two siblings, said: ‘I keep up with the news because it makes a massive difference. The pound is affected by Brexit and I’ve been taking advantage.’
He has become so proficient at currency deals that he now has 100 clients willing to pay him £155 a time for his tips on the markets.
To celebrate his success, he plans to buy a £30,000 Mercedes A-class when he’s old enough to drive. He also wants to treat his family to a holiday in America