Key findings from the report include:
Increased mobility brings decreased trading throughout the markets: A 35% increase in active mobility coincided with lower participation in the financial markets overall as people around the globe began moving again with the rise in COVID-19 vaccination rates. While the number of trades placed on the DriveWealth platform rose 34% year-over-year, trading volumes were down in 3Q21, in line with larger market trends. Average trade size, however, increased to $260, up 4% from 2Q21.
Shifting demographics among active investors: Data revealed a 14% increase in approved accounts, fueled by investors aged 20-49. While the largest absolute number of new accounts opened was by investors aged 20-29, investors ages 30-59 traded more frequently than both younger and older investors, revealing a barbell effect in engagement among investors. Investors aged 50-59 on average placed trades that were 18% higher in 3Q21 than 2Q21, finally surpassing the average trade size of investors 60+ for the first time.
Big Tech stocks take the lead: DriveWealth’s quarterly Retail Trends Reports continue to show that retail investors around the globe focus on investing in the brands that they know. In 3Q21, we observed a rotation back towards the biggest tech names across every region, while cryptocurrency exchange Coinbase (COIN) fell off all Top 10 lists.
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