UK investors flock to online trading

E Trade UK sees trading figures sky-rocket

Investors have ploughed more than £8 million into the stock market through E Trade UK in just six weeks, the online trading company has revealed. According to E Trade UK, it now accounts for just under 0.5 per cent of all trades in individual shares -- excluding unit trusts -- on the London Stock Exchange. At this rate, trading volumes per customer are three times greater than its own projections, the company said. Since the service was launched in the UK back in July, more than 3000 investors have applied for trading accounts with E Trade UK. The service is currently attracting over 400 applications a week, it said. E Trade UK claims it is handling around 200 individual trades every day each with an average value of £2500. It claims that such a promising start is proof that UK investors have an appetite for their new-found freedom to trade in stocks and shares online. Julian Costley, chief executive of E Trade UK said: "What's really compelling is that UK investors are taking to online investing because of its speed, immediacy and all the information to make their own decisions." ® For more ker-ching tune into Cash Register and turn on to our daily Net Finance News.

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