Digital technology has made the ability to trade on financial markets more accessible and more attractive to young people.
Some youngsters go into online trading to supplement a stable income, while others have ambitions to turn it into a viable career path. The World Economic Forum (WEF) says there has been an increase in young people globally taking up online trading, with 70% of retail investors under the age of 45.
Roger Eskinazi, Managing Partner at Tickmill, says the greatest advantage of starting online trading at a younger age is being able to take advantage of compound interest and long-term growth potential.
Individuals who start online trading at 18 will be able to build their portfolios and learn valuable lessons about how financial markets work along the way.
Dedication neededHowever, Eskinazi says young people must think of online trading as a get-rich-quick scheme. He says there are opportunities to make profit, but one needs to invest time and concentration into it. Sound decision-making is also vital, he adds.
