NEWSROOM

The secret of success in the investor ecosystem: Financial literacy

With the effect of online trading platforms, more and more people are opening the doors of the investment world day by day. Pointing out that quality is as important as quantity, Anne Kmel, Special Projects Specialist of Binomo, the online trading platform, said, “38% of the new investors and 16% of the experienced investors say that their level of knowledge in the field of investment is low. Financial literacy is essential for successful transactions.”

Online trading platforms, which have become increasingly widespread with the digital transformation, have made investment possible for everyone, anytime and anywhere. However, experts point out that financial literacy is as important as access to the right tools in the investment ecosystem. Anne Kmel, Special Projects Specialist of Binomo, which is one of the most preferred online trading platforms by investors in Turkey, shares the following information by talking about a recent study conducted by the FINRA Investor Education Foundation with NORC, an independent research institution within the University of Chicago: When asked about the investment ecosystem, 38% of the new investors and 16% of the experienced ones say that their level of knowledge in the field of investment is low. On the other hand, 12% of new investors and 31% of experienced investors think that their level of knowledge is high. The results of the test to determine their level of knowledge reveal a slightly different picture: New investors reach an average of 1.4 points out of 5, while experienced investors stay at 2.25. These figures show that the way to take successful steps in the ecosystem, which includes new investor candidates every day, is through education.”

It is necessary to practice by going through basic training

Stating that increasing financial literacy also enables a more efficient trading environment by increasing qualified transactions, Anne Kmel said, “Investing is a risky business activity and investors are responsible for every step they take, even through online trading platforms. Financial literacy is a must in order to make successful transactions that will minimize these risks. Financial literacy is basically based on being able to analyze the markets correctly, make consistent predictions about asset movements, and most importantly, anticipate what the next step will bring, taking into account the risks. Obtaining all these gains depends on practicing by going through basic training. We should not forget that investment instruments have the risk of losing as well as gaining additional income. To face this risk, it is necessary to make conscious investments and trade."

“Being an investor can be learned”

As Binomo we are positioned not only as an online trading platform but also as an educator in the investment ecosystem, Anne Kmel said, “As Binomo, we allow 1 million investors to trade daily in 133 countries, including Turkey. With our user-friendly interface and mobile applications, we facilitate the discovery of the investment world and play an instructive role in this process. We aim to increase the right steps in investment by providing professional-level training, analytical services, customer support and brokerage services. With our membership models suitable for all experience levels, we offer the opportunity to invest in more than 40 assets by account type, from world stock markets to foreign exchange and commodities. We pave the way for people who have not invested before but want to take a step on this path to start trading with the least amount of investment, we provide guidance and we offer educational support. Because we know that being an investor can be learned and we want to bring investors with a high level of knowledge into the ecosystem. For this, we also go to encouraging applications, and we are giving a double bonus to users who join our platform with the 'PRESSTR' code until the end of July.