4 Surprising Facts About the Modern Trader
Trading facts that are still relevant today
1. Asia is where it's all happening
A whopping 9.6 million people worldwide trade online, highlighting the jaw-dropping and industry-shifting effect that the Internet has had on trading; democratising a pursuit that was previously only ever attainable by the few able to trod the arduous journey to London's City or New York's Wall Street.
Now, however, trades can be placed fr om all four corners of the globe, leading to an unlikely new leader when it comes to most active online traders. For it is no longer the USA or UK where you'll find the most traders - but Asia, wh ere its 3.2m traders account for more than Europe and North American combined.
2. It's no longer just a man's game
So long attributed solely to men, more and more women are now becoming traders as this digital democratisation not only sees geographical boundaries dismantled, but gender divides too. The report estimates that women now account for 10% of all online traders
3. Millennials are taking over
The numbers of Millennials getting involved in trading has been increasing year-on-year, while the number of traders over 45 has decreased just as sharply. In 2017, 18-34 year olds represent over 65% of all online traders, showing that - unlike in previous years - experience and qualifications (37% of traders do not have a degree) are no longer prerequisites to trade.
And when looking at cryptocurrencies, that percentage increases even further, with over 75% of cryptocurrency traders aged 18-34, giving a clear indication that the likes of Bitcoin and Ethereum are key factors in attracting a new, younger generation to online trading.
4. Forex comes out on top
When asked what style of trading they preferred, both male and female traders agreed on what was their number one: Foreign Exchange. Forex trading led by a considerable margin, ahead of Day Trading and CFD, with female traders rating Spread Betting marginally more favourably than men.