A new survey says that British people don’t rate traditional traders.
The figures reveal that one in three Brits think that traditional traders are greedy and money obsessed, and that one in five reckon they are also untrustworthy.
The survey comes from eToro, the world’s leading social trading network. It highlighted what it calls a disconnect and dichotomy between traditional traders and the general population, which is further reflected by only 3% saying that a trader was ‘someone like me’”.
Interestingly, just over half (53%) of those questioned said that they considered themselves to be financially savvy. Yet, as the survey points out, the majority (79%) said that they did not have investment products such as stocks, or managed funds. What’s more, of those who don’t invest, some 21% reckon that investment products are not only too complicated, but they don’t understand the various options.
CEO of eToro Yoni Assia said: “The existing financial system is broken. It was designed to benefit an elite circle and conditions ordinary people to be afraid of making their own decisions because that’s what sustains the status quo.
“Unlike traditional financial markets, we are transforming the way people can access and invest in capital markets by actively encouraging knowledge sharing and transparency between traders and bypassing the high cost traditional fund management model.”