New Survey Points to Change in Dynamics with Advent of Online Trading
by
Colin Firth
Survey suggests a younger trading community spread far and wide throughout the world.
A survey conducted by BrokerNotes, a company that helps traders to compare brokers, seeks to throw out many of the myths and mysteries surrounding the trading industry. The results gathered point to how the dynamics have changed in the industry since the concept of online trading came into the picture, and how it has opened up the market to a wide variety of traders. It is clear that trading is no longer restricted to a specific group and has become largely democratized.
It may be a surprise to note that the largest number of traders are not in the Americas or Europe, traditionally the financial power centers of the world, but actually in Asia. Asia now has over 3.2 million traders as against 1.5 million traders in both Europe and North America and less than a million in South America. Even Africa, long considered an underdeveloped market, has 1.3 million traders. This data has been obtained by gleaning facebook data.
The UK has the highest number of traders in Europe, which is understandable considering its size and the fact that it is the financial center of Europe. But it remains to be seen what impact the Brexit process is going to have on these numbers a few years down the line.
Trading Gets Younger and Fancier
Another aspect, which is a clear indication of the impact of online trading, is the fact that most traders are under the age of 35 and prefer to trade Cryptocurrencies as they require less capital to enter and are promoted aggressively online.
Female traders are also increasing in number, though they still constitute only 1 in 10 traders. However, they seem to have much more patience, helping them to achieve better returns while the hyperactive trading of males leads to a reduction of 2.65% in their returns per year.
Traders Really Aren't Flying High
And we reserve the best and the most surprising finding for last - the average trader earns only $49,400 (£38,000) per annum, blasting the myth that traders are high earning individuals living in posh mansions and driving away in luxury cars. In fact, less than 0.3% of UK traders own a luxury car.
It has to be noted that Brokernotes has conducted this survey using Facebook and web analytics as the data source with varying sample sizes. All this data points to how the trading industry has evolved over the years, and should help technology and platform providers to design their products and marketing strategies accordingly.
A survey conducted by BrokerNotes, a company that helps traders to compare brokers, seeks to throw out many of the myths and mysteries surrounding the trading industry. The results gathered point to how the dynamics have changed in the industry since the concept of online trading came into the picture, and how it has opened up the market to a wide variety of traders. It is clear that trading is no longer restricted to a specific group and has become largely democratized.
It may be a surprise to note that the largest number of traders are not in the Americas or Europe, traditionally the financial power centers of the world, but actually in Asia. Asia now has over 3.2 million traders as against 1.5 million traders in both Europe and North America and less than a million in South America. Even Africa, long considered an underdeveloped market, has 1.3 million traders. This data has been obtained by gleaning facebook data.
The UK has the highest number of traders in Europe, which is understandable considering its size and the fact that it is the financial center of Europe. But it remains to be seen what impact the Brexit process is going to have on these numbers a few years down the line.
Trading Gets Younger and Fancier
Another aspect, which is a clear indication of the impact of online trading, is the fact that most traders are under the age of 35 and prefer to trade Cryptocurrencies as they require less capital to enter and are promoted aggressively online.
Female traders are also increasing in number, though they still constitute only 1 in 10 traders. However, they seem to have much more patience, helping them to achieve better returns while the hyperactive trading of males leads to a reduction of 2.65% in their returns per year.
Traders Really Aren't Flying High
And we reserve the best and the most surprising finding for last - the average trader earns only $49,400 (£38,000) per annum, blasting the myth that traders are high earning individuals living in posh mansions and driving away in luxury cars. In fact, less than 0.3% of UK traders own a luxury car.
It has to be noted that Brokernotes has conducted this survey using Facebook and web analytics as the data source with varying sample sizes. All this data points to how the trading industry has evolved over the years, and should help technology and platform providers to design their products and marketing strategies accordingly.
CFI Obtains Regulatory Approval for South African Operations
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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