Millennials are piling into stock trading. Here's what you need to know. (via CNBCMakeIt)
Stock markets have taken a battering as the ongoing coronavirus pandemic continues to rattle global economies. But some young people are taking it as an opportunity to kick-start their investing careers.
Even as the severity of the outbreak and its implications for markets began to unfold in March, another online platform Wealthsimple Trade recorded a 54% surge in new users and a 43% uptick in total trades. So far in April, the trading site has added new users at a weekly rate of 7,000. That can be a risky business. Generally, financial advisors recommend opting for diversified vehicles, such as passively-managed index funds or ETFs, which provide access to a full range of stocks. "Investors should always factor in balancing their investments between different regions, sectors and asset classes," noted Joel Carpenter, divisional director of marketing at St James' Place Wealth Management.
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