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A man’s game no longer: more and more women are getting involved with spread betting and they’re proving to be better at it than the men.
From Gordon Gecko to the Wolf of Wallsteet, the trading floor often feels like a man’s world, but that’s not quite as true as it used to be. More and more women are getting into the business and many are proving to be better at it than their male counterparts.
There’s plenty of evidence to suggest women make better traders and spread betting firm City Index said the number of women on its platform is growing by more than 1,400%.
One financial trading blog said it’s, less likely to take unnecessary risks, better in a crisis, would think more carefully before making a trade and would stick to a strategy for longer trusting that their initial judgment was right.
So, what’s behind the change? The truth is that the traditional world of finance is still very much a man’s game. Many women have been put off joining an environment which still feels male orientated and condescending to women.
The difference is online platforms which are making it easier for women to trade on their own account and to build their knowledge. They in turn have spotted that women are a fantastic untapped market and are making more efforts to encourage them into the sector.
So here are some decent resources for female traders.
The Woman’s Guide to Successful Investing: Nancy Tengler spent more than 20 years as a professional investor, but was amazed how many women she met seemed to lack the confidence to make investments. This book offers an accessible how to guide which can help women make their way in the investment world.
Classy Career Girl: This has become one of the most influential careers sites in the world, according to Forbes. Its mission is to encourage more women to invest in themselves and build their participation in business – including investment. They have a host of resources including these focused on getting people started with trading.
The Naked Trader Guide to Spread Betting: If you’ve ever thought investing in spreads was for men in suits, this handy guide is for you. Written in plain English it’s ideal for people who have the resources and the talent, but lack the confidence to get started. It’s open about the risks of spread betting but offers some useful pointers which can help along the way.
To get started it helps to get advice from one of the more experience women in the business. Michelle Baltazar is an award-winning financial journalist. Her book The Beginner’s Guide to Financial Spread Betting provides a step by step guide to getting started and some of the most effective strategies.
Another platform with an accessible and intuitive support section is City Index. They have seen one of the largest increases in female traders and have been vocal in their enthusiasm for seeing more women in spread betting. Their training section has text and videos designed to help you get started and progressively build your skills and experience in trading.
This platform is tailor made for women and aims to close the investing gap. It uses algorithms tailored to a woman’s income, goals and life cycles and was recently named best robo advisor of 2018 by Nerdwallet.
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Tom Cropper is a financial journalist with work which has appeared in titles such as the Guardian, Euromoney and many others.