New data from research house Investment Trends reveals that six out of 10 online investors use a smart phone to trade shares. That’s up from 53 per cent a year ago.
And according to Investment Trends head of research – wealth management Recep Peker, Gen Y is leading the charge.
“The adoption of smartphones among Gen Y Australians is generally greater than older Australians, so some of the difference is explained by the greater penetration of smartphones,” Peker told Fairfax Media.
“Their familiarity with this medium and the convenience offered translates into greater usage of mobiles for investing among younger Australians, whereas older Australians may feel relatively more confident making major decisions on a desktop device.”
The Investment Trends data shows that the number of active online traders rose 4 per cent in the first six months of 2015, before the market was hit by volatility.