Technological advancements have allowed Africans the opportunity to trade without breaking the bank, says the Managing Director of INFINOX, Jay Mawji.
Mawji said gone were the days people dealt with stock traders on the floor, as today’s trading is accessible to all.
According to him, millennials make up as much as 60 per cent of the 15m online traders across the globe.
“Much has changed in the trading industry with the advent of technology. Technology has opened the market up to everyone, and allowed them to reap the rewards that come with responsible and regulated trading.
“Technological advancements have allowed everyone the opportunity to trade from any location imaginable, provided that there is adequate internet connection. As such, the digitisation of the industry was an important step forward to ensure that more people have access to trading tools – not just stock brokers on the trading floor,” Mawji explained.
He added that the digitisation of the industry had made trading more affordable.
“By far some of the most significant technological innovations in online trading include tools associated with pricing, charting, and order logs. However, one which we have seen becoming ever-more prevalent given the ‘App Generation’ that we live in is the concept of mobile trading, which allows one to purchase and trade shares anywhere and anytime from the convenience of their cellphone, laptop or tablet.
“This digital progression requires that regulators adjust policies to ensure that firms and their market solutions work to benefit the client and ensure consumer protection.
“While this can at times slow down regulatory advancements, it allows trading partners the opportunity to understand clients so that we can provide them with the best solution possible,” he further explained.
