The ability to trade on financial markets was previously only available to a few individuals who had the technical expertise and specialist knowledge needed to succeed. Digital technology has, however, changed the game, making it more possible for people with any level of experience to become active participants. Online trading platforms have led this charge and attracted widespread interest from young, aspiring investors.
The millennial and Gen-Z generations are coming of age and looking for ways to leverage their skills as digital natives and make money through trading. For some of these individuals, trading online is a supplement to earning a stable income, while others have bigger ambitions to turn it into a viable career path. Equipped with the right information, resources and tools, both these ambitions are highly achievable.
Encouragingly, an increasingly number of young people are opting into the online trading world according to the World Economic Forum, 70% of retail investors are now under the age of 45. One of the greatest advantages that young people have over their older counterparts is time by starting at an early age, they can tap into the power of compound interest and long-term growth potential.
Most online trading platforms, allow users from the age of 18 to open accounts, build their portfolios, and hopefully learn some valuable lessons about how financial markets work along the way, says Roger Eskinazi, Managing Partner at Tickmill.
To get young online investors off to the best start, he offers the following words of advice:
