In a new TraderLife series we explore some of trading's most widely-held urban myths, reflecting on the continually changing face of trading in a modern, digital world.
In our first instalment, we discuss the shifting nature of where today's modern traders live and work...
Urban Myth #1 Traders Live in Major Financial Cities
What's the first city that comes in to your head when you think of the world of trading and the financial markets? You've gone for London or New York, right? OK, so depending on your style of trading, you might have plumped for Chicago, Tokyo, Sydney or Hong Kong.
Those of you going deliberately leftfield might even have thought of Zurich, Singapore, Frankfurt or Shanghai. But we bet not a single one of you thought of...
That's right, outside of London, Bristol boasts the UK's highest density of traders, with 262 traders for every square mile of the city. It's a sign of the rising trend that sees traders increasingly based outside of the world's traditional finance hubs.
According to the latest research from BrokerNotes, there are now over 13 million traders on the planet, but a whopping 95% of them live outside of a major financial centre, with almost half of all traders being based in Asia or Africa, as the global reach of the Internet continues to decentralise trading on a significant scale.
With 4.6m traders, Asia is now the continent where you're most likely to bump into a fellow trader, though at the rate of growth in Europe - with a 107% increase from 2017 double that of Africa, the next-highest by growth - its 3.1m traders are likely to gain the top spot from Asia should that trend continue.
And as for which country in Europe tops the table? Take a bow the UK, with 730,000 online traders accounting for 1 in ever 100 Brits.