TradingView has seen its user base surge after Covid-19 lockdowns encouraged non-professional investors to trade from the comfort of their own homes.
The website, which provides retail investors with market data and insights, reported a 400 per cent jump in membership accounts and a 237 per cent increase in visitors over the past 18 months.
With 550m all-time unique visitors from 180 countries, equivalent to 7 per cent of the world’s population, the site is a clear favourite amongst retail investors who are expected to spend $1tn on stocks and shares by the end of the 2021.
Commenting on the figures, James Maddison, Chief Vision Officer for the website, said, “TradingView was created with the belief that educated participation in global markets is the best means of increasing individual financial wellbeing.
“All of our tools and features work towards this goal of allowing anyone, anywhere, to look, learn, and succeed through trading and investing… not just the privileged few,” he added.
TradingView, which launched in 2011, offers market-leading charts and analysis tools to users for little or no cost. The recent success of the platform reflects a worldwide surge in retail investment in the past year and a half with a study by Charles Schwab revealing that 15 per cent of retail investors began trading during the pandemic.
Susannah Streeter, a senior investment and markets analyst at Hargreaves Lansdown, a digital wealth management service, stressed the importance of trustworthy resources for new retail investors.
“What is concerning is that according to the UK financial watchdog, the FCA, this new group is more reliant on getting investment tips from social media, where speculation surrounding hot stocks has had a tendency to run rife,” she said.
“For some new investors, trading has become a game and a form of entertainment, rather than a well thought out long term investment strategy.”
Earlier this month a shocking survey revealed that 18.6m British adults were prepared to take investment advice from social media.