Corona Virus pandemic has a huge impact on the online trading industry in Africa. Though changes in different industries and businesses usually happen slowly, which is almost unnoticeable. But, occasionally, some kinds of events can hasten society’s changes to the point where we can see it happening in real-time.
The current COVID-19 pandemic is such an example. You have heard about the ‘Black Swan’, which is a rare event. Also, it is important to mention that the event has an indelible impact on the history.
This pandemic has made us live and works within the four walls of the house. Thus, a massive number of the population move to the online platform for their livelihood. It brings significant change to our society.
It is especially true on the African continent; every aspect of African life has gradually been moving online: Business, entertainment, social causes, media, and politics. We can hardly find any industry or leisure activity that has nothing to do with the internet.
The pandemic forced many people to stay home, whether working or not. At the same time, the online platform plays as a medium of investment. Almost every country on the continent uses online space for investment and business growth.
Necessarily, the online trading industry shows a miracle in the pandemic situation. According to the statement of Online CFD brokers, “we have seen a considerable increase in trading activity this year”. The percentage is counted even as high as 300% by some analyst.
As people were forced into their homes, many with uncertain employment futures, a significant fraction turned their thoughts to alternative income streams. Though CFD trading is a high-risk activity, it can also prove to be a reliable source of funds for those with dedication, caution, and patience.
Nevertheless, the initial surge in interest has cooled somewhat; online trading has continued to see a much higher interest level than previous years. Brokers see a larger number of millennial traders than they usually do and are pivoting their business focus to adapt.
Professional traders expect more from the mobile phone as they frequently use this as a trading device. Also, they expect that mobile trading platform should be more flawless so that they can enjoy the best user experience.
On the other hand, it is necessary to deliver the best educational content and market analysis by brokers. It will undoubtedly benefit traders. But the content should be more clear, concise, and suitable.
The current generation of traders is interested in trade the financial market with a variety of trading instruments. Meanwhile, traditional CFD traders were satisfied with trading a few asset classes. However, expert traders are mostly attracted to the whole cluster of CFDs available, including equities, precious metals, bonds, energies, etc.
Though history shows us that we don’t learn from history, still it’s a great time to refresh and start anew. We will get through this by seeing every challenge as an opportunity to serve others better. It begins with accepting that the world is more significant than what’s right in front of us.
Source: FinSMEs
This post was last modified on November 2, 2020 3:09 pm