Research published today by online trading comparison website, BrokerNotes, suggests the average UK trader is a 27-year-old male that lives in Manchester and drives a Vauxhall Corsa.
Crypto tokens are their trading asset of choice, they have an Android smartphone, and travel economy class – a far cry from the ‘Wolf of Wall Street’ character typically associated with trading. The average profile is being driven by the continued boom of online trading that’s opened up this industry to the masses suggests the research.
Where they live and what they trade
As well as moving out of typical financial hubs, UK traders are on average not from a high-income background. The average income of a UK trader is £35,742 per year, which has fallen by £2,957 since 2017 and is likely the result of a shift towards younger traders starting to trade online.
18-34-year olds now account for 58% of online traders. This has in part been driven by lower barriers to entry, with traders needing lower deposits and the internet allowing anyone to copy the trading activity of an experienced trader through brokers that offer social trading. The other key factor is the crypto boom, with over 75% of cryptocurrency traders being aged 18-34.
Additional data points
- The UK has more than 730,000 online traders.
- The UK also has twice as many online traders as any other European country.
- Bristol has the highest percentage of its population trading online, with 24 out of every 1,000 people being a trader.
- Herefordshire is the county with the highest percentage of female traders (21.82%).
- Tyne and Wear has the lowest percentage of female traders out of all English counties (6%).
Marcus Taylor, CEO at BrokerNotes, commented: “The UK has seen a huge surge in the number of online traders with 1 in every 100 people now trading online. The reality is that an online world has no place for stereotypes. By offering anyone, of any background, the tools to research and develop online trading strategies, the internet has opened up trading to the masses.”
This data stems from an international report assessing the habits and demographic data of 500,000 traders by BrokerNotes. The full report is available here: https://brokernotes.co/modern-trader/