[Advan] [Why? ] Reasons for not trading even after opening an account! 3rd place: I don’t have time, 2nd place: I’m afraid of risks, what about 1st place?
*Advan*
Press release: August 28, 2024
**
【why? ] Reasons for not trading even after opening an account! 3rd place: I don’t have time, 2nd place: I’m afraid of risks, what about 1st place?
*Investigating the reason why there are many account openers with zero trading in FX*
*
“Technical Book” is a site specializing in technical analysis.There are many people who open an FX account but do not start trading.In order to investigate the cause of this, we aim to create a site for people over 20 years old who have opened an FX account but have no trading experience. A survey was conducted among 325 men and women. This survey revealed that many people feel anxious when starting FX trading due to a lack of knowledge and experience. *
Survey summary
A summary of the results of this survey is as follows.
* 1. 56.9% have opened an account less than a year ago, and 38.8% have opened an account less than six months ago 2. 74.8% of people have deposit experience, but the deposit amount is small
3. The most common reason for not starting trading was “lack of knowledge” at 27.1% 4. 72.3% of people are positive about starting trading 5. Mobile app may support starting FX*
* *When using this survey, please indicate the source below as the source. You can check all information regarding this survey on the survey results page below. *
Site name: Technical analysis commentary site “Technical Book” URL: https://ad-van.co.jp/technical/article/survey-fx-account-open-no-trade/ View details
Survey implementation overview
* Research agency: * In-house research
* Survey method: * Internet survey (Just System Co., Ltd. “Fastask”) * Target area: * All over Japan
* Target audience: * Men and women over the age of 20 who have opened an FX account and have no trading experience.
* Survey period: * June 4, 2024 to June 11, 2024
* Valid responses: * 325 people
Main findings
Past research on the characteristics and challenges of people working in FX The results showed that 27.3% of those who opened FX accounts had never traded. This is a very high percentage compared to 14.0% for stocks and 12.7% for investment trusts.
In order to investigate the reason for this, we will introduce the results of a survey conducted among men and women aged 20 and over who have opened an FX account but have no trading experience.
1. 56.9% have opened an account less than a year ago, and 38.8% have opened an account less than six months ago.
The following graph shows the results of the survey respondents who responded that they had opened an account but had no trading experience, and were asked how long it had been since they opened their account.
The most common response was “3 months to less than 6 months” at 20.9%, followed by “6 months to less than 1 year” at 18.2%. Excluding those who answered “I don’t know,” the third place was “1 month to less than 3 months” at 13.2%. The total for less than 1 year is 56.9%, and the total for less than 6 months is 38.8%.
A total of 26.2% of respondents answered for more than a year after opening an account, indicating that there are many cases where for some reason they are unable to start trading for a long period of time.
2. 74.8% of people have deposit experience, but the deposit amount is small The following graph summarizes the results of asking respondents whether they have ever made a deposit after opening an FX account.
25.2% of people have never made a deposit, and the remaining 74.8% have made a deposit. Although the majority of people have never traded, they have progressed to the step of making a deposit.
Among those who have made a deposit, 26.2% of the deposits were “less than 100,000 yen,” 20.6% were “100,000 yen to less than 300,000 yen,” and 13.5% were “300,000 yen to less than 500,000 yen.” , the result is that small amounts are many.
On the other hand, 3.4% said they had deposited between 1 million yen and less than 2 million yen, and 3.4% said they had deposited more than 2 million yen.Even if you total those who have made a deposit of 1 million yen or more, only 6.8%. I am.
Based on the above, it can be said that those who have opened an account but have not made any transactions can easily proceed to the deposit step, but the deposit amount is likely to remain small.
3. The most common reason for not starting trading was “lack of knowledge” at 27.1%.
Next, we asked them why they had not started trading even though they had opened a FX account.
1st place was “Lack of knowledge” at 27.1%, and 2nd place was 22.8% for “Forex seems to be high risk and scary.” There was a close difference between 3rd and 4th place, with 20.0% saying “I don’t have time/I’m busy” and 19.7% saying “I’m worried because I don’t have trading experience.” There is a wide gap from the 5th place and below, and the answers are concentrated in these four categories.
From this result, it seems important to have an environment where you can learn basic knowledge about FX and acquire correct risk management knowledge when starting trading. It is also effective to experience FX in a way that is close to the real thing through demo trading and trading practice apps.
4. 72.3% of people are positive about starting trading
The following graph is the result of asking people who have opened a FX account but are not trading about their likelihood of starting trading in the future.
37.5% said it was “very likely”, 34.8% said it was “possible”, and 72.3% responded positively to starting transactions in the future. On the other hand, 9.8% answered “Not at all possible,” 17.8% said “Not very likely,” and only 27.7% answered negatively.
From this result, it seems that many people who have opened an account but are not trading are motivated to start trading in the future.
5. Mobile app may help start FX
We asked people who had opened a FX account but had not yet started trading what they thought would be the trigger for them to start trading.
The most common response was “easy to use mobile app” at 23.7%, followed by “low spread” at 20.6%, and “rich learning content” at 19.1%.
Mobile apps took first place due to spreads that make it easier to trade advantageously and learning content that helps eliminate lack of knowledge. Mobile apps are characterized by their ease of use, which can be used anytime and anywhere, which suggests that the ability to get started right away is most important to users.
Considering that “lack of time/busy” was one of the top reasons for not starting trading, it seems that having an easy-to-use mobile app is also an important factor for users to start trading.
summary
The results of this survey are summarized as follows.
– *Three out of four people who have opened a FX account and have no experience in trading have made deposits, but most of them have only made small amounts of less than 500,000 yen*
– * Reasons for not starting trading include lack of knowledge/fear of risk/lack of time/lack of trading experience*
– *More than 70% of those who have opened a FX account and have no trading experience are willing to start trading*
– *Mobile apps can be a huge boost to start trading*
This survey shows that although many people who have opened FX accounts and have no trading experience are willing to start trading, lack of knowledge and concerns about risks are hurdles to starting trading.
When starting FX trading, it seems important to create an environment that reduces user anxiety, such as providing learning support and demo trading/practice apps.
Based on the results of this survey, “Technical Book” will strive to provide useful information so that people interested in investing can acquire the correct knowledge.
Please note that the “Technical Book” provides supplementary information, survey data, graph images, etc. that can be cited, so please make use of them as well.
* *When using this survey, please indicate the source below as the source. You can check all information regarding this survey on the survey results page below. *
Site name: Technical analysis commentary site “Technical Book” URL: https://ad-van.co.jp/technical/article/survey-fx-account-open-no-trade/ View details
About “Technical Book”
“Technical Book” is a specialized site that provides practical information on technical analysis. It is supervised by investment professionals in order to provide useful information to a wide range of traders, from beginners to experts.
– * Mr. Yasushi Yamanaka: * Widely active in foreign exchange information distribution, seminar lecturer, consultant, etc. – * Masami Uchida: * Appeared in numerous media such as Radio NIKKEI and magazines
We are also offering a practice app called “Runcha,” which is an evolution of demo trading. “Runcha” not only allows you to practice in earnest using charts from the past 20 years, but also automatically calculates win rates and risk-reward ratios. This is an app that allows you to understand your own trading habits and aim to improve your skills efficiently.
– *Technical book*
– *Technical Book Official X Account* – * Runcha*
Advan Co., Ltd.
Advan Co., Ltd. operates web marketing and investment education services. In addition to “Technical Book” and “Runcha,” we also offer apps for beginners such as the following.
– * Pipopapips* – *FX Beginner’s Guide* – * Side job FX that even a monkey can understand*
– *Bitcoin Beginner’s Guide* – * Virtual currency that even cats can understand*
[Overview of operating company]
* Company name: * Advan Co., Ltd.
* Location: * CIRCLES Gotanda 11th floor, 1-2-10 Nishigotanda, Shinagawa-ku, Tokyo
* Established: * July 12, 2010
* Representative: * Yuki Tanaka
* Business details: * In-house service business, customer attraction support business, Internet advertising distribution/effect measurement business, Internet-related consulting
* Company website: * https://ad-van.co.jp/
Click here to contact us