In the past 10-15 years we have seen a huge evolution in online trading from trading classic stocks/shares to Forex, Cryptocurrency and now NFT’s. There are more opportunities than ever to make or lose a lot of money from the comfort of your own home. It gives people much more freedom to invest their capital in the way that they want but it also comes with many warnings at the same time as it is a form of gambling. We’re going to take a look at some of the game changing trading platforms of the last decade.
One of the industry leading platforms for trading shares is IG and they have since also moved into other forms of trading. Traditionally stocks and shares were traded over the phone via a broker which left it very open to fraud and coercion. People able to use a website as your broker and trade shares 24/7 was a real game changer for the industry, it got many more ‘casual’ investors in to it and has continued to grow since.
In a similar way to stocks/shares, Forex enabled people at home to trade currencies and bet on whether they were going to go up and down. Some people have got very rich from it and others have lost a lot. If you’re a frequent user of social media then you will have no doubt seen the account ‘selling secrets’ of how to make millions of pounds. In reality, to the make money with Forex you need to do your research, and a lot of it. You will need to look in to everything about a country, employment rates, debt levels, GDP and much more to accurately predict if a currency is going to go up or down in comparison to another. The good thing about Forex is that there is an element of skill to it via research, it is tied to how a country performs.
The launch of BitCoin is arguably one of the most game-changing things to happen in the last few decades, it opened up a completely different world with a new digital currency that could only be mined at a certain rate and was completely anonymous. Due to the popularity of BitCoin many other cryptocurrencies have since started up with Ethereum being one of the most popular. Companies now launch ICO’s (initial coin offerings) on an almost weekly basis so you have plenty of options to choose from. The problem with cryptocurrency as an investment is that its price doesn’t come from anything, it isn’t like a currency of a company’s stock that is tied to performance, the price of cryptocurrency just comes from how many people are trading it and want it. Due to the huge amount of money in cryptocurrency now there are also plenty of people trying to take some of it for themselves via Ponzi schemes. Some of the biggest trading sites in the world have been shut down having found that their owners have stolen billions of pounds from their customers. Crypto recovery is becoming as big a business as the currency itself due to the volume of scams happening now.