Access to online trading has improved drastically over the years and the recent report published in January 2021 by the Statista Research Department shows that over two thousand companies currently trade on the London Stock Exchange (LSE). The report further showed a spike in the average daily trades in March 2020, which is also the same month COVID-19 was officially declared a pandemic.
The impact of COVID was huge on many sectors and the financial sector also had its share. However, since most people had to be on a compulsory lockdown, the internet was a good place to spend a bulk of their time. Access to online trading made it easier to trade stocks from the comfort of their home and even people who had never traded were able to join the train with ease.
Key Trends Facilitating the Growth of Online Trading
Online trading has grown massively since the 1990s and has consistently improved over the years due to the advancement in technology. Improved technology has benefited every sector today and the growth in the stocks market is enough proof of the impact. Two key trends that contributed to this are the Internet and Computers.
95.53% of the population in the UK currently have access to the Internet and there was an estimated number of 62 million monthly users in 2020. The growth of the internet in the UK leaves no room for doubt that more people will continue to trade stocks as long as their internet permits.
Computers, on the other hand, have also evolved and their overall processing power is expected to double every two years. This means there will be an even more effective way to use the computer for several things each passing year.
As the internet and computer continue to evolve, online trading becomes more accessible, effective, and used more often.
Like every other sector that has maximized the internet for its benefits, the financial industry has also leveled up by taking advantage of the internet. There are now online brokers who make online trading easier and you don’t have to meet with investors and cooperators behind closed days like in the old days, which is inconvenient.
Online brokers make it easier for anyone anywhere to trade and with even the lowest amount. This has encouraged more people to join the train, including young people and students who would have probably found it impossible two decades ago.
Technological advancement has contributed to the growth of the several online trading platforms we have today. Web and Mobile development has evolved and this means trading software gets even better over time. These trading platforms, such as tradingplatforms.com/uk/, are accessed through an online broker.
There are several of them available today with diverse features. Look for the one with features that align with what you want and go for it. If you are a beginner, you can opt for one that gives you access to helpful resources and also simplify big terms and the trading process to make your journey smooth.
The internet will be here for a long time and this means online trading will get even better in the coming years.