- 66.6% of traders are NT (intuitive-thinking) types (Elite Trader)
- dealCancellation breaks through psychological barriers to trading for the masses (easyMarkets)
- Making trading accessible to all has never been closer (easyMarkets)
Trading is an exciting business and one that requires a particular combination of determination, drive and daring. A survey by Elite Trader found that 66.6% of traders were classed as NT (intuitive-thinking) when it came to their Myers-Briggs classification. Other personality types were far less likely to become traders: just 3.1% of traders were SP (sensing-perceiving), 6.3% were SJ (sensing-judging) and 12.2% were NF (intuitive-feeling). The poll shows clearly the link between successful trading and certain personality traits.
The risk involved in trading has traditionally been seen as the reason why the industry tends to attract only a certain type of individual. However, a game changing new product from pioneering forex and CFD broker easyMarkets is about to turn that on its head: dealCancellation allows clients to ‘cancel’ losing deals within an hour after opening them and have their original investment refunded. The new tool incurs a fee of a few pips when the deal is opened, but provides the trader with the opportunity to save much more by cancelling the losing trade.
Nikos Antoniades, CEO of easyMarkets comments,
“This is a bold new feature that no one else is offering. Essentially it means that you can open a deal and if the deal starts losing, you can cancel it and have your losses returned. It’s as simple as that.”
dealCancellation follows 13 years of innovation from easyMarkets, which has been seeking to democratise trading since 2003. The company was the first to offer a web-based platform, credit card funding, no minimum deposits and great trading conditions including free guaranteed stop loss and tight fixed spreads.
Director of Risk Management
Nikolas Xenofontos sees dealCancellation as the logical next step. He explains,
“We believe in making trading accessible to all. It’s a principal that we’ve stayed true to since the company was founded. dealCancellation means that the psychology of trading has shifted. It allows individuals who are more risk averse than the typical trader to have the confidence to trade, as they know they can cancel a losing trade within an hour of making it. This knowledge provides significant reassurance, particularly to those who are new to trading and those with a cautious approach to it. dealCancellation also provides more experienced traders with the confidence to up the stakes in their trades.”
dealCancellation will be available to all easyMarkets traders from 20 September 2016.