Traders' attitude to charity: global broker Octa's research
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 5 November 2024 - E-brokerage is a rapidly expanding sector globally, raising questions about its societal impact through social initiatives. Traders' attitudes towards socially beneficial projects, including those led by Forex brokers, play a crucial role in this space.
Octa, a global broker operating since 2011, conducted research to analyze traders' involvement in and opinions on various charitable 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%) belong to three age groups: 26–35, 36–45, and 46–65. Each group had roughly equal representation in the sample.
On average, in 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 suggests a higher involvement of middle-aged Malaysians in social issues compared to other surveyed countries.
Key activities and causes
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 the number one cause.
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. The broker also sponsored an on-site coding bootcamp in Malaysia 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.
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Octa
Octa is an international broker that has been providing online trading services worldwide since 2011. The company is involved in a comprehensive network of charity and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
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