As brokerages continue to find new ways to reach millennials, TradeStation Group, Inc., the parent company of online securities and futures brokerage firms, revealed on Friday that it has established sponsorship with TradeOff Technologies, LLC, a fantasy stock Trading Platform .
TradeOff is a company that combines online gaming with trading, leveraging the popularity of the former to bring financial literacy and education to new traders. Under the agreement, TradeStation will support the company in its attempts to advance financial literacy in a different way - by allowing investors to learn about trading through a game.
“These days, millennials may not be investing but they are gaming, and the journey from gamer to trader could be a natural step,” said Rob Kuck, President of TradeOff in the statement.
“Believe it or not, the skillsets are closely intertwined. Gaming requires quick reflexes, the role of game theory, Risk Management and being a good sport. We’re excited to have TradeStation’s sponsorship, which we believe will help expose gamers to the online trading industry.”
In particular, through this game, players can choose to go up against robots or other traders in a simulated trading environment, with the goal being to make as much money as possible in a three-minute period, based on real historical market data. Specifically, TradeStation is sponsoring TradeOff’s “Titans of Trade”.
Commenting on the sponsorship, John Bartleman, President of TradeStation Group, Inc added in the statement: “The demographics of investing and self-directed trading continue to transform, and millennials specifically remain a very untapped market demographic. We believe that for trading to resonate with this generation, we need to find more progressive ways that meet them where they are.
“Gaming culture is more popular than ever, and TradeStation is excited to sponsor TradeOff’s game. This sponsorship helps TradeOff deliver a hands-on trading experience that’s engaging, familiar and helps reduce the fear of trading.”
Changing strategies
As Finance Magnates has reported, many brokerages are trying to reach more millennials. Whether that’s by offering commission-free trading, fractional shares trading, more advanced mobile apps, and more, trading companies are continuing to find new ways to reach this growing market.
