Long gone are the days when trading was only for the gentleman in a pinstriped city suit – now technology is allowing people the chance to trade more than ever.
Armchair Trading Trumps City Slickers
If we think of trading, we think of the suited and booted businessmen and women depicted in movies such as The Wolf of Wall Street. However, trading is becoming so commonplace that it can even be done from the comfort of your couch in your pyjamas and slippers.
According to the findings of a recent survey, people in the UK are choosing to trade and invest in stocks and shares online rather than receive potential returns from savings accounts with all-time low interest rates and as a mobile-first generation, millennials and Gen Z are likely to hone their skills using trading tools and resources that are easily accessible via apps and websites.
Unsurprisingly, the Covid-19 pandemic was a key driving factor in people’s increased usage of trading from home. In fact, in a poll of 2,000 people across the UK carried out by Capital.com, 24% of respondents said they turned to trading in order to make up for lost earnings due to Covid-19.
Stocks & Shares
There has been a huge increase in those trading from home. According to the research, 38% of traders are tradiging of investing in stocks and shares online at home.
Additionally, the majority (52%) believe that trading online gives them better potential returns than the savings rates offered by traditional banks. Not only that, but 37% said that it was cheaper to do it themselves than to go through a traditional bank. This could suggest that in the future, more and more people will be turning to online trade rather than banks.
Extra Pocket Money
Not everyone who is trading online is using it as their full time income. Of those surveyed, nearly half (44%) believe that online trading is a convenient way to make some extra income. The accessibility of online trading means that people can be earning money outside of their typical 9-5.
Long Term Planning
Online trading is a lucrative and relatively easy way for people to bolster their savings and assist with long-term budgeting. Nearly half of the survey respondents (41%) say they are trading stocks and shares online to plan long term and save for their retirement.