Like concertgoers discovering new artists at a music festival, new investors are milling around stock markets across the world, trading information and trying to unearth stocks they like. And hoping to strike a chord with these users is Interactive Brokers.
“We’ve been surprised actually. Last year, the amount of volatility just exploded. We had people who were attracted by this volatility — like they heard good music — and they wanted to attend this concert, so they joined [us],” says Guillaume Roux-Chabert, head of sales at Interactive Brokers Singapore.
Trading against the backdrop of the Covid-19 pandemic, the new millionaire hopefuls are still cautious though. “They invested mainly in the usual, like Tesla and other US securities, with not too big of a size. It was more like, ‘Oh, I hear some good music; I’ll listen for a bit but I don’t want to get too involved,” adds Roux-Chabert in an interview with The Edge Singapore.