Africa’s interest in trading is steadily growing, gaining more interest among the continent’s population. With it being one of the latest trends and opportunities in Africa’s financial sector, it presents much potential for boosting the industry’s growth and development, as stocks, bonds, currencies, and commodities exchange hands.
Given how technology continues to advance alongside interest in trading, integrating the two further increases the access to and ability to participate in financial markets. Online trading, widespread awareness through social media, and the capability to monitor investment trends and market-moving events can allow Africans to tap into platforms and markets like never before. Here’s how technology can push Africa’s asset trading sector further:
A growing interest in crypto
Trading has grown in popularity to foster financial and economic growth. With a large number of the African population lacking basic financial services, cryptocurrency has emerged as a means to participate in the economy without the traditional banking structure. Online trading, in particular, has helped increase wealth-building opportunities, providing Africans access to financial markets and assets. Along with crypto, decentralised financial solutions like blockchain are also receiving more interest, allowing nations to explore these innovative technologies to drive economic growth, financial inclusion, and social development.
With more programs and initiatives being developed to help foster the economic and financial development of African cities, blockchain technology and crypto trading can be extended to a much larger scale than individuals, possibly equipping officials with the skills and know-how to help cities grow.
Increased platform integrations
With more people becoming interested in trading instruments like cryptocurrencies, integrations with top trading platforms are becoming more common. Recently, leading crypto exchange Bing X announced its direct integration with MetaTrader 5 for a more optimised trading process. Cutting-edge innovation from both platforms helps provide a seamless, more comprehensive, and user-friendly crypto trading experience.
MetaTrader 5 is the fifth generation of the popular MetaTrader platform, offering increased functionalities and features from its predecessor. This is why top brokerages offer users the option to download MetaTrader 5 to provide them with convenient and advanced tools for easy trading across almost all financial markets. Traders can use the platform’s indicators and analysis tools for more informed trading to help them navigate the crypto market more effectively. With more crypto integrations, traders of various skill and experience levels can enjoy easier trading and helpful features that will keep them in the market longer, driving the industry even further.
Rise of mobile trading
Trading technology was once confined to computers and desktops, but technology has advanced enough to provide mobile trading to users who wish to trade on the go. Financial markets are now more accessible than ever due to the large population of smartphone users in Africa, as smartphone subscriptions in the region are expected to reach 798 million by 2027. Information and awareness of investment opportunities and markets have also become more widespread due to these devices, racking up interest from younger people who are becoming interested in exploring things like the stock market or cryptocurrency.
Now, access to trading platforms via mobile apps is possible; many takes advantage of this convenience and ease of use to trade. With more trading activity, many brokers and fintech companies have brought their services to the continent, further improving the trading landscape and experience. With more services available to Africans that are accessible through commonly used devices, both tech and finance sectors can continue to influence the growth of the other.