On the eve of International Women’s Day 2022, new research from personal finance comparison site finder.com highlights how newer investment platforms such as Nutmeg and eToro seem to be gaining more favour with female investors than more established counterparts like HL, Halifax Share Dealing and AJ Bell
- Just a third (34%) of those using trading platforms founded before 2010 are women
- In comparison, share-trading companies founded after 2010 had an equal share of male and female customers at 50%
- Despite this, satisfaction levels for platforms founded before and after 2010 are similar for female customers (72% vs 70%)
Women who invest are 47% more likely to use share-trading platforms founded after 2010 according to an analysis by finder.com, a personal finance comparison site.
By analysing survey data from 753 customers of all the major trading apps in the UK, Finder discovered that share-trading companies founded after 2010, such as Freetrade, eToro and Nutmeg had an equal share of male and female customers at 50% each.
In comparison, most people using investing platforms founded before 2010, such as Hargreaves Lansdown, AJ Bell and Halifax Share Dealing, were men (66%), and just a third (34%) were women.
These findings indicate that newer platforms seem to be attracting more female users and closing the gender gap when it comes to investing. This might be due to significant advertising of newer apps through a range of media that include social media.
Interestingly, there doesn’t seem to be much difference in customer satisfaction between older and newer platform users who are women. Around 7 in 10 (72%) women who use trading platforms founded before 2010 said they were satisfied with them, while 70% were happy with platforms founded after 2010.
To see the research in full visit: https://www.finder.com/uk/women-in-investing
Zoe Stabler DipFA, investment specialist at finder.com, gives her thoughts on the analysis:
“In what has traditionally been a male-dominated sector, it’s positive that newer share trading platforms seem to be attracting more women.
“For any new investor, regardless of gender, it’s wise to explore all options and do thorough research from a variety of different sources before making a decision.
“Our survey found that men were twice as likely to use investment news sites for research, while the top source for women was YouTube.”
- Finder commissioned Censuswide to carry out a nationally representative survey of adults aged 18+ who invest using trading platforms in 2022 between 22.12.21 and 05.01.22.
- A total of 753 people were questioned throughout Great Britain, with representative quotas for gender, age and region.
- Survey respondents were grouped by gender to provide percentages of users per platform. The years in which specific companies were founded were manually sourced by Finder analysts.