Trading now seems like a summer trend, with millions of people participating. People from all walks of life are now active traders, including high school and college students, office workers, and industry elites. You’ll find manual laborers trading forex on their lunch breaks, college students dabbling in crypto, etc.
This is a far cry from what happened in the past, when trading was primarily the domain of finance professionals and institutional investors. Various factors have come together to make everything possible, from modern sites that make trading incredibly accessible to free educational resources and social media hype. Here’s an overview of what has made trading popular in the modern age:
Easy Access
A few years ago, traders had to call brokers, fill out paperwork, and deal with many other hassles. Technology has changed everything, and now you can open positions with a single click from your mobile phone, tablet, or PC. You can trade anywhere, any time, whether it’s from the comfort of your bed or while enjoying a cup of coffee at your favorite espresso bar.
Free Educational Tools
Free courses in trading for beginners have made it possible for millions to venture into the world of trading and reap handsome returns. Before their advent, individuals seeking to master trading had to attend costly seminars and purchase expensive books. That hindered individuals with limited budgets, making this venture a niche subject. Fast forward to today, when anyone can take free online courses, watch YouTube tutorials, and hone skills with demo accounts.
Low Entry Barriers
The financial markets were once a domain for the ultra-wealthy with substantial means. Back then, many brokerage firms had high minimum investment amounts. But today, you can trade everything from forex pairs to commodity CFDs with as little as $1. The same amount also allows you to invest in fractional shares, digital assets, and more. The low entry barrier offered by many modern brokers has contributed to the rising popularity of trading.
All-Day Accessibility
You can trade many markets at any time of the day or night, 5 days a week, including forex. Assets like cryptocurrencies are available even on weekends. The all-day availability of most assets has drawn many to online trading. Now, people can work regular jobs during the day and trade financial instruments in the evening, and vice versa. To make the deal even sweeter, many brokers offer round-the-clock support, ensuring traders can access assistance whenever needed.
Social Media Hype
Social media hype has encouraged many to venture into online trading. If you visit popular platforms like Reddit, X, and Instagram, you’ll come across thousands of posts related to trading. Some are from tutors offering paid courses, while others are from thriving individuals sharing their success stories, and more. Such elements have introduced many to the world of trading and its offerings. Many also highlight the best brokers and platforms to use, including MetaTrader 5, TradingView, and MT4.
Final Thoughts
Trading’s popularity is rising at a phenomenal pace. So, if you just discovered this venture and are interested in joining, don’t rush. Hundreds might claim to make fortunes from it, but the activity is complex and risky. Increase your chances of having a successful run and earning a substantial income by first educating yourself. That should be relatively easy, as many platforms offer free, detailed learning materials, such as AvaAcademy.
