‘Traders go bananas at ShareCrazy’
SHARES MAGAZINE - 04/09/03
ShareCrazy, which recently launched an internet share trading service, announced record growth in trades this quarter, outperforming the rest of the market, and said it was mainly thanks to investors reacting to the recent stock market rise.
As the FTSE-100 index hit a two-year high, www.sharecrazy.com said it experienced a substantial increase in trading volumes and new account applications. This mirrors a boost in the stock market and reflects findings showing that execution-only dealing has staged a recovery after four consecutive quarters of decline.
ShareCrazy, which represents stockbroking firm Hoodless Brennan, logged a record number of trades through its site over April, May and June. The research, carried out by Compeer, measured trends in share trading among 93 firms registered with the London Stock Exchange.
Execution-only trading was up 42% on the previous quarter, falling only slightly short of the figure achieved in the first quarter of 2001. Volumes of trades by private investors were also up and are approaching 45,000 bargains per day. A further quarter-on-quarter volume increase of about 5% is projected for the third quarter.
ShareCrazy director Alan Green says: “The market has picked up significantly and illustrates the growth in the investor market. As confidence continues to grow, we expect the number of online traders to increase even further.”
Mark Rayden, online broking manager at Hoodless Brennan, says: “The [Compeer] survey shows that www.sharecrazy.com is reaping the rewards of investors returning to trade shares as the market recovers.”
The website launched at the end of 2002 and offers investors a low-cost share dealing service at £9 per trade flat fee, without quarterly or inactivity charges. It provides help for members, sends out a daily shares bulletin and enables traders to swap tips and experiences through its bulletin boards. The company prides itself on a no-nonsense, jargon-free approach to finance.
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