When it comes to the world of forex, there seems to be a rising number of women on the trading floor. Although it remains the case that there are many more men, the balance is shifting, and the numbers are evening out.
So, what’s causing this to become more of a level playing field? To find out, let’s look back before we consider where we are now. Here, we take in what’s happened to reach this point and uncover who some of the leading female traders are today.
A shift in numbers
We’ve taken some big strides in recent years in terms of gender equality in this industry. According to Broker Notes, the rise of online trading platforms has made trading more accessible, meaning that people who don’t necessarily fit the stereotype of a typical trader are making headway in this field.
To add to this, Broker Notes conducted a study into modern-day forex trading. This revealed that women prefer forex over other types of trading style, with almost 30% of female traders preferring online forex trading. Day trading and CFD trading took second and third place respectively. The conclusions drawn from this were that women are more opposed to risk than men, preferring to back several horses rather than pinning everything on one.
The study also revealed two interesting points. First, 42% of women class themselves as experienced traders, revealing just how many female traders are already established on the trading floor. Second, women prefer platforms designed for easy forex trading, allowing for user-friendly access to the markets. Therefore, the rise of these platforms, such as Tickmill, allow for more opportunities.
Changes in recruitment
So, with more access to the trading tools, it seems women can get a foot in the door in terms of forex trading, becoming experienced in this industry – and this is evident in the numbers. There has been a real shift towards recruiting females.
In 2018, 13% of those approved for trading roles by the Financial Conduct were women. This is significantly higher than the 5% that were hired in 2012, according to a study conducted by JM Coates following a survey of operations in the UK and the US.
This shows that the dial is slowly moving away from the male-centered stereotype. And the likelihood is that this is down to things moving online and away from the cut and thrust of the floor. Now, everyone from university-trained high-fliers to 16-year-olds can enter the world of forex trading.
The women to watch
As forex grows in popularity among female traders, there will be an increasing number of talented women traders to look out for. In fact, there are already some legendary females making a name for themselves.
There’s Kathy Lien, who started her career on Wall Street aged 18; launched dedicated markets and trading site, DailyFX.com, when she was 23; and is now a leading forex author known for her knowledge of global currencies.
There’s also Lydia Idem Finkley and Stephanie Link, who are forex commentators, and Nelisiwe Masango, who is one of the most successful female South African forex traders and has set up three financial companies that aim to raise financial awareness for women in South Africa.
With education and tools continually being updated and more women leading the charge in this world of forex trading, it’s likely that females will begin to make the move into online currency trading.
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