Despite only having had access to the trading market for a short period of time, women have become more than capable in forex trading. According to some statistics, women are seen to be generally better than men at trading due to their calm and calculating trading strategies. Arguably, the digitisation of the trading market has played a large part in paving the way for women traders compared to how it worked before.
In the last few years, women have started to gain more influence in stereotypically male-dominated fields, such as forex trading. There was no good reason for their exclusion. In fact, historically, women initially dominated the tech industry, comprising the majority of early computer software engineers. In those days computers were seen as a development of secretarial work and the diligence and attention to detail women were socialised to project were seen as a great asset.
Women have been marginalised in the lucrative trading industries not because of a lack of skills or aptitude but because of the work culture of the industry which had become characterised by very long hours and a work-hard, play-hard ethos. It was a ‘laddy’ atmosphere that became renowned for particularly sexist attitudes and behaviour, with women not only in the minority but also facing the largest pay gap in any economic sector. None of those factors made the trading houses accessible or attractive to capable women.
What has changed in increasing digitisation and flexibility within the industry. The digitalization of these areas means that it is easier to find the best Forex brokerage for women, which aids traders to understand the market better.
Forex trading, or foreign exchange trading, is one of the most common forms of trading. The system entails the exchange of foreign currencies in order to make the largest gains. It is a speculative market, where the trader makes a calculated guess on whether a certain currency will rise or fall and trades it with another currency for potential profit.
The digital threshold
For forex trading, as well as other male-dominated areas, the potential anonymity in digital business can lead to less gender bias and discrimination. As a consequence, more women feel comfortable entering the digital market. Furthermore, it is easier to find communities of like-minded ambitious women traders on the internet, which further encourages market engagement.
In the UK, one of the largest trading nations in the world, women make up 1 out of every 7 traders, which is higher than the global statistic where women represent only 10%. However, it is important to note that women have only been allowed on the market for so long and that this can only be described as the beginning of the women traders’ era.
Women’s caution is their strength
It is a common belief that it takes risk-taking personalities to survive in the trading markets. However, statistics have shown that women tend to act more cautiously on the market by spending less money less often. At prima facie, this might be seen as a negative factor. However, it is quite the opposite.
Women are more prone to invest when the cost is low and let it rest until they can withdraw it at a high point, whereas men present a more impatient type of trading. Men more often revert to revenge trading or high-risk taking, whereas the careful nature of women traders tends to make larger gains in the long run.
Women are slowly but steadily entering male-dominated markets, to which digitisation has been essential in providing less biased access. Despite women being a clear minority of modern traders, the numbers are bound to increase as the era of women traders has only just begun.