CFD trading on the increase
The rate of take-up of contracts for difference (CFDs) is increasing, according to new research released by Investment Trends.
The research, contained in the Investment Trends Australia CFD Report, has shown the use of CFDs increased by 7 per cent to 44,000 Australians in the 12 months to May, which was 3,000 more people than in the previous corresponding period.
Commenting on the research findings, Investment Trends senior analyst Pawel Rokicki said the market had shown considerable resilience despite the continuing challenging economic conditions.
He said CFD trades were adapting to the lacklustre performance of the local share market and that while most traders had graduated from domestic equity trading, they were proving increasingly willing to trade overseas assets and commodities.
An interesting finding of the Investment Trends research is that a majority of CFD traders are dong so via their smart phones or tablets.
The company found that 58 per cent of current CFD traders were using such technology.
Rokicki said Australia now had the highest level of adoption of mobile trading platforms, closely followed by the US and the UK.
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