26 May 2017
register for the webinar

Canada's online investors turn to social media

20 May 2011  |  7157 views  |  0 biometric  face pointer

Canada's online investors are increasingly turning to social media platforms such as Twitter and Facebook to help them make decisions, according to research commissioned by BMO InvestorLine.

The poll of 1501 Canadian online investors shows 10% use Facebook and eight per cent Twitter to help make investment decisions. However, far more - 40% - use more traditional online financial communities or forums and 16% follow blogs.

The survey also shows that online investors are eyeing new technologies closely, with 31% saying they would prefer using a tablet or smartphone to do their investing.

Canadians also expect their use of online trading to grow, with 14% predicting they will do more in the next three to five years and 15% planning a mix of online and using an investment advisor.

Connie Stefankiewicz, CEO, BMO InvestorLine, says: "The results of the survey are very encouraging. They reflect the fact that online investors are ahead of the curve when it comes to adopting and leveraging technology."

Twitter's potential value is not just being tested by retail investors. A £25 million hedge fund using the micro-blogging site to gauge market sentiment has just been launched.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Twitter-based hedge fund launches

Twitter-based hedge fund launches

18 May 2011  |  10634 views  |  1 comments
Social media: More than just a passing fad say bankers

Social media: More than just a passing fad say bankers

07 April 2011  |  15946 views  |  2 comments
Aussie traders turning to social media - survey

Aussie traders turning to social media - survey

23 March 2011  |  8201 views  |  2 comments
E*Trade unveils online investment community

E*Trade unveils online investment community

14 March 2011  |  6152 views  |  0 comments
Financial services firms gearing up for social media investment - Aite

Financial services firms gearing up for social media investment - Aite

18 November 2010  |  11134 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.response.ncr.comvisit www.events.sap.com

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
11837 views comments | 49 tweets | 77 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7295 views comments | 12 tweets | 24 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
6078 views comments | 12 tweets | 20 linkedin
Enterprise Ethereum Alliance triples in sizeEnterprise Ethereum Alliance triples in si...
6001 views comments | 15 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job