The Egyptian Financial Regulatory Authority (FRA) has just announced that youth in Egypt can open up their investment accounts from the moment they turn 16 years old.
We always hear that the earlier you start investing the better. But, until right now starting early was a little bit of a difficult endeavor for youth in Egypt. This was because parental consent was required for anyone under 21 to open up an investment account.
Today, we’re really happy that this is not the case anymore and 16 – 21 year olds are free to open up their investment accounts and begin their investment journeys independently.
So, instead of only being able to save a little allowance on the side and then spending it on something fleeting later. These youth can now invest this money, learn as they invest, and look forward to a much better potential return on their investments.
To protect these young new investors that are now entering the market, the FRA has issued a 10,000 EGP trading limit for anyone between the ages of 16 – 21 on EGX. Short selling and margin trading will also not be available.
Since our launch Thndr has opened up the market to a whole new wave of investors. With our average investor age being 29 years old and over 65% of our users being new investors. Now, we are thrilled to welcome this even younger and newer wave of investors to the market.
The process to open up an investment account for 16 – 21 year olds remains the same as for everyone else on the Thndr app.
- Sign up
- Fill in your in-app application form
- Book an appointment to sign your agreement
- Upgrade your security
- Fund your account
- And, you’re ready
We stick to our promise of always working on making sure investing is easy and accessible for everyone. We also make sure to empower you with the right tools and resources to make smart investment decisions. This is why we are proud of our learn section where all these youngsters can step up their investment knowledge. They can also practice as they learn on our simulator before investing in the real world.
We’re really excited with this change and all the steps both the Financial Regulatory Authority (FRA) and the Egyptian Stock Exchange (EGX) are taking towards opening up the market to new investors.
We really believe that this is a great step towards financial inclusion and takes Egyptian youth closer to achieving their financial freedom*.
So, what are you waiting for? #JoinTheMovement
*Financial freedom is the ability to make big life decisions, like taking a year off to travel or quitting your job to go back to school without worrying about money holding you back.
The Thndr Team