What we learned from our survey of traders

Few said they were interested in leaving FX

I asked for help filling out a quick survey recently and some of the results are in.

One of the questions we asked was if you would consider leaving FX for crypto trading. An overwhelming 92.4% of the more than 700 respondents said no with only 3.4% said they were considering it.

Meanwhile, nearly 65% of you said you weren’t interested in crypto at all with only one-in-five saying they were interested.

To me, this indicates that many of the people getting involved in crypto are people who weren’t previously interested in financial markets, either because they were disenfranchised or intimidated.

The survey also confirmed something we’ve been saying for years: Regulation matters. Nearly 90% said they wouldn’t trade at a broker without solid regulation and just 7.3% said they thought regulation was unimportant. The FCA licence was seen as the best (the US wasn’t an option).

More at Finance Magnates.

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