Is the Sudden Boom in Online Trading Linked to COVID-19?There’s been a surge in the number of newbie traders, and the Covid-19 pandemic and subsequent lockdowns primarily fuel it.
The pandemic has crippled the global economy to the degree that individuals started looking to the online trading domain for financial relief.
The pandemic has created significant market disruptions, causing high volatility in the currencies and crypto markets. An example of the pandemic’s impact was the crash of crude oil dropping to -$37.63 per barrel in April 2020, for the first time in history.
Traders immediately grabbed these opportunities to profit from the market. In 2020, online trading brokers reported a surge of 20% to 30% in trading volume, and demand continued to increase into 2021.
The crypto markets especially saw a boom in online traders as many are confident in the future of crypto coins. It also seems that new traders prefer the convenience of app trading, making trading possible on the go.
In addition to the pandemic, social media has also played a significant role in creating an interest in online trading – especially with regards to the crypto markets, which are gaining a lot of social media exposure, increasing their popularity.
The attraction to online trading is not solely related to making money but also due to many having free time on their hands during the lockdown. Some found it interesting to learn to trade and started it to occupy their time.
How to start online trading
To start online trading, you will have to join a broker that offers these services, including support and guidance for new traders.
Globalbase is a crypto trading platform that offers a variety of digital assets to trade. Their platform’s advanced technology provides a user-engaged experience.
The trading platform is web-based, requiring no app downloads, and is accessible via multiple devices, provided you have a stable internet connection.
Globalbase has equipped its trading platform with tools to allow fast execution of orders, high levels of security, and an intuitive interface for easy navigation.
As support for beginner traders, Globalbase has created a blog section with informative topics on advice for beginners, the best crypto coins in 2021, and safety tips to protect your account. They also made provision for a FAQ section providing answers relating to withdrawal queries.
Their withdrawal policy is transparent, stipulating the procedure for initiating a request and methods of payment. Upon signing up, a personal manager to advise and guide you is an option to consider. Globalbase offers dedicated customer support 24 hours, six days a week.
Online trading is no longer limited to Wall Street traders, as the general public is finding it an easy alternative to generate consistent income. The industry has made it accessible to anyone to start trading online. Brokers like Globalbase have ensured their platform is user-friendly and aim to build a supportive community to grant new traders an easy experience.