Egypt’s FRA approves maximum limit on trading value for youth under 21 years old

Trading for those under the age of 21 will be limited to buying and selling stocks only

  
Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

REUTERS/Amr Abdallah Dalsh

Cairo –  The Egyptian Financial Regulatory Authority (FRA) approved the maximum limit on the value of trading allowed for those aged between 16 and 21 years old at EGP 10,000.

Trading for those under the age of 21 will be limited to buying and selling stocks only and will not include margin trading and short selling transactions, the FRA’s Chairman, Mohamed Omran, said in a statement on Sunday.

Data showed that 56% of traders in the bourse, amounting to about 215,000, own portfolios with a value less than EGP 5,000, while two thirds of traders or about 253,000 own portfolios with a value less than EGP 10,000.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities