A 16-year-old self-taught currency trader who has turned £ 150 into more than £ 60,000 in less than a year, believes he is the 'UK's youngest Forex trader'.

Edward Ricketts, who is just 16 when he spotted a Foreign Exchange Market traders boasting on Instagram about how much money he was making.

Edward asked him for tips, but what he said without formal training he'd never succeed.

Edward Rickett's trading at his London home (Picture: SWNS)

Proving him wrong, Edward spent hours watching YouTube videos on how to make money by buying, exchanging and selling global currencies online for a profit.

Edward, from Tottenham, London, believes he is the UK's youngest Forex trader – and says he does not know any traders.

He monitors the money markets between college classes.

Brexit negotiations.

He's so good at forex trading now over 100 clients up to £ 120 a time for tips.

Edward Ricketts was just 16 when he spotted a foreign exchange market traders boasting on Instagram about how much money he was making (Picture: SWNS)
Edward spent hours watching YouTube videos on how to make money by buying, exchanging and selling global currencies online for a profit (Picture: SWNS)

He's saving his cash for a £ 30,000 Mercedes A-Class when he's old enough to drive, and so wants to treat his single dad and siblings to a holiday to America.

Edward, who lives with dad, Oscar Ammad, 54, a security guard, his brother, Earnest, 27, and sister, Anita, 25, said: 'I keep up with the news because it makes a massive difference.

'Brexit and I have been taking advantage.'

Edward, who is currently studying business and enterprise course, first came across Forex when he saw a trader on Instagram – who was double his age – in August 2018.

The 16-year-old wrote the dealer a private message, asking him for trading tips.

Edward, from Tottenham, London, believes he is the UK's youngest forex trader (Picture: SWNS)

The trader was impressed – but told Edward that he would fail.

In July last year, Edward opened his first account and deposited £ 200 out of his pocket money – the minimum amount allowed.

In December alone, Edward made over £ 14,000, and despite being loses – up to £ 10,000 at one time – his account shows an overall profit of £ 63,000.

Edward has bought himself a few treats – including a £ 350 Louis Vuitton wallet, a pair of £ 800 shoes and a £ 2,000 gold pendant that spells out 'Edz'.

Edward says: 'My main goal is to just keep saving. I want to go into property investment when I'm older.

Edward monitors the money markets between college classes (Picture: SWNS)

'But money does make me happy. I never had much money growing up, as a kid. I had to ask my parents for money.

'I want to be independent and pay for my own things.

'But I want to be able to help out my family too. I want to take them on holiday, to America.

Edward's dad, Oscar, says he's his full support and he's 'proud' of Edward for his achievements.

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He said: 'I am aware of the fact he is doing it and I think it's fine if that's what he's interested in doing.

I fully support him. It's amazing what he's doing, I'm proud of what he has done.

'I'm with him all the way, he's doing great.'