Russians Disapprove Lowering Age Limit for Trading on Stock Exchange

The First Deputy Chairman of the Bank of Russia, Sergei Shvetsov, offered to allow playing on the stock exchange from the age of 12. The majority of Russians (77 per cent) do not approve of such initiatives, which follows from the results of a survey conducted by specialists from the SuperJob job search service.  

According to the majority of Russians, 12-year-olds do not yet have sufficient financial literacy, do not have knowledge of exchange products, and cannot be fully responsible for their decisions; they cannot adequately assess the risks associated with gambling on the stock exchange, do not have a source of independent earnings, and can be too reckless leaving their parents responsible for this.

It is stated that only 8 per cent of Russians agree with the idea of ​​allowing adolescents to gamble on the stock exchange. Moreover, those who approve of this initiative are mostly respondents under 34 (16 per cent). They explain their point of view by the fact that there are extremely talented children among those who can easily master the principles of investing.

In turn, parents of minor children are totally against lowering the age limit for trading on the stock exchange to 12 years (83 per cent). It is specified that those who agree with the initiative are mostly parents whose children are now between 12 and 17 years old (10 per cent versus 2 per cent of parents of children under 11 years old).

Ru-Main, 11.06.2021 

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *