“Silicon Forest” (CC BY-SA 2.0) by brx0
Wall Street might be the financial heart of the US, but investing and trading is no longer the reserve of a single district in Lower Manhattan, New York City. Thanks to advancements in online technology, the chances for money-savvy individuals to turn their knowledge into profit have increased dramatically. As Oregon’s tech sector looks to expand and create more business opportunities, the advent of online trading could present some interesting opportunities.
Taking the lead in this growing industry over the last decade are Europe and the UK. Owing to favorable regulatory conditions, companies have been able to offer both novice and professional traders easy access to thousands of tradable commodities and more. Using online trading brokers, individuals of different levels can speculate on international markets, including CFDs and forex. What’s interesting about this sector going online is that this technology is driving down the cost of trading.
Tech Has Reduced Costs and Made Things More Accessible
As it’s done in other industries, technology has cut out the expensive middleman and replaced it with an automated system that can work for longer and more efficiently. As a result, internet brokers can not only offer lower costs (spreads) but also something known as leverage. Essentially, what this means is that investors can put up a small amount of money and have it multiplied by a certain amount. This, in simple terms, allows novices to trade on a similar level to the professionals.
Of course, trading isn’t anything new to the state of Oregon. At Oregon State University, the Professional and Continuing Education department currently offers a course on stocks, investing and more. Costing $299, the “Stocks, Bonds, and Investing; Oh My” course offers an introduction to stock options as well as how to value and analyze them. Under the tutelage of Aaron Clarey and Mark Quinn, both finance graduates and experienced traders, novices are taught about the nuances of investing in an accessible way.
Not All Modern Tech Has to be Bad
In an age where major tech firms like Facebook are being lambasted by the media, the public and even Oregon Senator Ron Wyden, Silicon Forest can’t afford to become embroiled in a PR battle. Although online brokers use data to offer a unique service, it’s data that doesn’t directly impact the individual. Across the Atlantic, internet trading stands as an example of what’s possible with modern technology without compromising an individual’s rights. This idea aligns well with Silicon Forest’s longstanding focus on clean technology.
Although the term historically refers to the environment and the creation of energy efficient products, the underlying premise is based on ethics and sustainability. Not exploiting individuals clearly plays into these ethical concerns and, therefore, plays into the ethos of Oregon’s tech sector. In essence, technology is unlocking the financial sector and moving business away from New York and towards states such as Oregon. With Portland’s long-standing tradition as a tech hub, this could hugely positive long-term implications.
