E-brokerage is a rapidly growing sector worldwide, but does it positively impact society through dedicated social activity? What attitude do traders take to socially beneficial projects in general and the initiatives implemented by Forex brokers in particular? Octa, a global broker since 2011, surveyed traders' engagement in and opinion of various charity initiatives.
All generations do their part
The Octa's research covered hundreds of traders in several countries, including Indonesia, Malaysia, Nigeria, and South Africa. Across all countries of the survey, the vast majority of participants (up to 95% depending on the country) belong to three age groups: 26–35, 36–45, and 46–65. Each group had roughly the same representation in the sample.
Across all countries of the survey, 59% of traders engage in charity, with Nigeria leading the way with 74% of respondents actively and regularly taking part in various socially beneficial projects.
The first noteworthy difference between the countries was established in various age groups' attitudes towards charity. While in most countries, the younger generation aged 26–35 are more engaged in charity, Malaysia boasts a more active social stance among those between 46 and 65. This result is quite intriguing and might suggest a higher involvement of middle-aged Malaysians in social issues compared to other surveyed countries.
How do they participate?
When it comes to ways respondents engage in charity, around 53% only donate money to charitable causes, with volunteer work being the second most popular choice. Donations are especially popular in Malaysia, where 63% of participants help society this way.
There is a strong similarity among all countries regarding which charity causes deserve public attention and investments the most. Answering a multiple-choice question, around 68% of respondents chose healthcare and education as the most important causes.
Emergency relief initiatives are the third most popular choice, being especially important for Malaysian and Indonesian traders. This fact can be explained by the numerous natural events that occurred in both countries in recent years. In Nigeria and South Africa, women's empowerment, emergency relief, and environmental causes got roughly the same number of answers, with education still being in the lead.
It is worth noting that education is one of the leading charity causes worldwide in terms of investment value and the overall scale of initiatives. In turn, Octa, as a global broker that stays true to its social mission, has been actively involved in educational projects in various countries. The broker focuses on enhancing education opportunities and improving living standards by facilitating learning and personal growth.
For example, this year, Octa implemented a charity project together with the KIR foundation to educate Nigerian women and provide them with work tools to help boost their small businesses. In Malaysia, the broker sponsored an on-site coding bootcamp for local youths to increase their learning potential and drive better career opportunities.
Trust and information sources
When learning about charity and corporate social responsibility projects in particular, traders use various sources, including social media (14% across all survey countries), printed newspapers, TV, and radio (20%), and word of mouth (11%).
Last but not least, 56% of the survey participants put the most trust in domestic charity foundations operating within a city or part of the country. In contrast, large-scale international charity organisations are significantly less popular among the traders' community.
Octa traders' survey showed that for most traders, charity initiatives are instrumental in establishing their active social role. Many participate in charitable ventures themselves, opting for donations and volunteer work. The high level of social responsibility among traders and their strong drive towards education emphasises the spirit of community and self-improvement embedded in the trading industry.
About Octa
Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities. Since its foundation, Octa has won more than 70 awards, including the ‘Best Forex Broker 2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine.
