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TRADING

Social Trading is The New Way That Gen Z Are Getting Their Share of The Pie

Social Trading is The New Way That Gen Z Are Getting Their Share of The Pie 44

Social Trading is The New Way That Gen Z Are Getting Their Share of The Pie 45By Benjamin Chemla, Co-Founder and CEO of Shares

Introduction

Many beginner investors do not have people in their immediate circles who invest and are often unsure of how or where to get started. Gen Z and women, in particular, are often the first groups to feel the pinch of not being ‘in the right circles’ to get started with investing – and it can feel overwhelming for many due to the seemingly vast knowledge and processes one needs to be aware of to start.

In true Gen Z fashion, this demographic is now turning to social media to learn about personal finances and investing, from TikTok to Reddit there are countless forums and opinions to read up on.  Europe’s first social trading app, Shares is on a mission to socialise the investing journey and has designed its product to level the investing playing field. And, with under 23s accounting for over one-third of Shares users, the app is fast becoming a popular space for beginner investors.

What is social trading?

Shares is building the world’s first truly social and community-powered investing app to help make investing accessible by harnessing the power of communities. The app offers individuals the opportunity to experience a one-stop platform where they can become an investor and make trades, better manage their portfolio, and discuss opportunities with friends and family. With Shares, family, friends and seasoned investors can invest together, sharing knowledge and experience to inspire long-term growth in their investments.

The importance of Community within trading

Research has found that many beginner investors do not have people in their immediate circles who invest and are often unsure of how or where to get started. However, according to research Gen Z investors were nearly five times as likely to report that they get financial advice from social media as adults aged 41 and over, with 28% turning to friends and online influencers for guidance.

To offer investors an inclusive space, Shares offers their users Communities which are dedicated and moderated spaces on the app designed to help connect users based on similar interests or experience to make starting in the investing world less intimidating. Users can join Communities based on their trading interests like Crypto & web3, or there are even stock specific Communities where users can discuss the latest movements of their favourite stocks like Apple or Tesla.

Ben Chemla, Founder and CEO of Shares, said: “Community-powered investing is in our DNA at Shares. At its core, Communities gives users the opportunity to reimagine the relationships they have with the companies they invest in. Communities will help us close this gap between investors and their most beloved brands. Getting people chatting and engaged first helps create a precursor for what comes next”.

Users who join a community will be able to share everything from the latest news and trends, to thoughts and questions, and Shares will encourage users to join the moderated channels, which is a safe space for newcomers and established investors to learn more about investing and celebrate their successes together. The feature also empowers users to connect with people outside of their immediate friendship circles and with those who share similar investing interests- introducing them to wider circles of opinions and levelling the playing field.

What is the future for social trading

Whether it’s the current economic climate, or Gen Z’s hunger to learn new skills one thing is for certain: Gen Z is taking charge of their own future. People are more now than ever feeling empowered to take control of their finances into their own hands and look for opportunities to make the most of the market – whether for their own nest egg or to raise funds to put towards a business idea of their own.  With thousands of people taking to social media to share their latest ventures and stock market finds, there is now endless inspiration for how to create income outside of a  9-5.

Sharing information about investing means building a longer table for future investors, rather than higher walls to keep them out. Social trading is the next chapter for not only integrating social media further into everyday life, but for creating a space where future venture capitalists and traders alike can learn, connect and be inspired to find their next ‘million dollar idea’.

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