Active traders love crypto, banking and payment apps

Around one in five Germans shop. But how do traders in Germany define themselves? A study analyzed the demographic structure of the target audience as well as their preferences and attitudes towards financial service providers and services.

Traders are an attractive target group for established banks, neobanks and FinTechs.

Trading, that is, the buying and selling of securities, has become an important part of the financial sector and represents a good investment for many consumers. As part of the ongoing digitization, also in the financial sector, trading is now almost exclusively online and the group of active traders is therefore inclined towards digital services, financial service providers and solutions. This is shown by data from YouGov’s target group analysis “Traders in Germany”. The majority of merchants (72 percent) have downloaded a banking app, many use online financial services, and more than a quarter are even willing to give up the bank account and use cryptocurrency instead (27 percent).

Who are the traders?

The YouGov data reveals that just over one in five Germans now trade (22 percent) and that trading in stocks and securities is particularly prevalent among younger men. 70 percent of German entrepreneurs are men between the ages of 25 and 34, 29 percent of the target group has a migration background (compared to 18 percent of the total population). Traders are career oriented and often higher up the corporate ladder as managers (12 vs. 6 percent of the general population). Almost half (47 percent) are willing to sacrifice their free time to advance their careers (versus 29 percent of the general population). More than a quarter of traders see investing as their top priority when it comes to financial affairs (27 percent), 46 percent have stocks as an investment product, 33 percent exchange-traded funds (ETFs) and 28 percent stock funds. The willingness to take risks in the stock market tends to be high among this target group: More than half of traders (55 percent) like to take risks in the stock market (versus 19 percent of the general population).

Most popular investments by active traders

Shares are among the most popular investments among traders and are actively used by 46 per cent.

Providers of financial services used by traders

It is striking that Deutsche Bank’s branch bank traders are significantly more current customers compared to the general population (13 percent versus 6 percent). They are also frequent customers of the direct and online banks N26, DKB, comdirect and Consorsbank. For future accounts and services, this target group most often considers ING (23 vs. 16 percent of the total population), but also Deutsche Bank (17 vs. 9 percent) and Commerzbank (17 vs. 12 percent). Trade Republic ranks first among the neo-brokers surveyed by YouGov: one in four traders currently use the online broker, while Scalable Capital is used by just under one in eight (13 percent).

Traders and their preferences when choosing a bank

Merchants are noticeably more frequent customers of direct banks and online banks.

But cryptocurrency is also very popular among traders: more than a quarter of the target group (27 percent) is willing to use cryptocurrency instead of a bank account and traditional currency. In comparison, the willingness to use cryptocurrency is almost three times that of the general population (10 percent). Traditional banks and financial services companies may struggle to retain the merchant crowd going forward, with nearly half of merchants (50%) seeing cryptocurrency as the future of online financial activity (vs. 31% of the general population).

Digital Financial Services Improvement Requests

Willingness to use digital financial services among traders is high. Compared to all Germans, the comdirect banking app was downloaded most frequently (17 versus 9 percent of the total population). In second place are ING and DKB. But there are obstacles to daily app use. Compared to all Germans, shoppers most often give the reason for not using banking apps that their banking transactions are too complex to be carried out on a mobile device (17 vs. 5 percent). 10 percent say there are no optimized banking apps for their smartphones/tablets (versus 4 percent). Although security concerns about banking apps are lower among merchants than in the general population (23 vs. 28 percent), three in ten merchants do not want to store their banking information on a smartphone, and almost a quarter are afraid that their smartphone and thus their security will have their own financial data stolen (23 percent). We have already discussed the topic of security in banking apps in a previous article.

Target group with potential

Active German business people today make up just under a quarter of the total population in Germany, so the target group has great potential for financial service providers. Entrepreneurs are very active in the financial market, are open to new digital offers and services and, thanks to their activities in the industry, often point out security holes and untapped potential of digital financial providers – a good target group for future-oriented financial companies.


Download the document as PDFYou can download the target group analysis “Trader in Germany” here.Banking Blog Partner: YouGov

YouGov is a partner of Bank BlogYou can read more about Bankbloggen’s partner concept here.

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