Bulgarians earmark the amount of BGN 1,000 for investments on global financial markets

The amount which Bulgarians earmarked for initial trade on global financial markets stood in the range of between BGN 200 and BGN 9,000 in 2010 and 2011, showed data from a survey of the Bulgarian Online Trading Platform Trader.bg.

Nearly 70% of the respondents, however, said that they had invested in currencies, gold, oil and shares of the platform amounts of up to BGN 1,000. Every fifth of the polled persons invested sums in the range of between BGN 1,000 and BGN 3,000 initially, and merely one in ten people started with more than BGN 3,000. The largest initial amount invested in the period was BGN 9,000. The national currency (BGN) was the most commonly chosen currency for starting a real account (94%). Relatively few people preferred Euro (4%) and US dollar (2%) accounts.

"Bulgarians continued to invest on international stock exchanges during the crisis. To allocate BGN 1,000, knowing that you can win but you can lose as well is not easy. Especially now, when inflation and the unemployment rate are high and the overall business climate is not encouraging," said Plamen Peichev, chief dealer at Trader.bg.
The majority of investors were trained via demo accounts for up to 6 months (36%) before starting trade with real money. The share of those who traded with virtual money for up to 1 month (34%) was almost the same. Some 17% of the polled people were trained within 12 months. Just 13% of the respondents needed more than a year to become confident with the process.

The survey was conducted among 160 people selected randomly from the pool of investors who had a signed a contract with the Trader.bg platform in 2010 and the first six months of 2011. The purpose of the survey was to establish how people learned about trade on global financial markets via the Internet, what criteria are applied in order to chose the platform, how long they deal on the demo version, how many of them open a real account.

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