EXCHANGES
Cryptocurrencies Great Way to Get Millennials Trading Says TD Ameritrade Chief

2018-01-11 06:14:58
by Dominic Brown
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JJ Kinahan, the chief market strategist at investment service firm TD Ameritrade has said that he believes that cryptocurrencies such as bitcoin are a great way to get millennials interested in trading.
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JJ Kinahan, the chief market strategist at investment service firm TD Ameritrade has said that he believes that cryptocurrencies such as bitcoin are a great way to get millennials interested in trading.

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In a CNBC interview on 8th January, Kinahan said that he believes that the cryptocurrency markets and exchanges provide the ideal opportunity to bring people who would not normally be interested in the world of trading onboard.

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Kinahan said: \"People complain that we haven\'t gotten millennials to trade. Maybe this isn\'t the product I\'d like people to start with, but this is the greatest opportunity.\"

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Kinahan went on to note that many millennials say that they would be willing to utilize up to 90% of their capital in order to speculate, while TD Ameritrade advises that clients use 10%.

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\"Do I agree with that? Not necessarily, but for us to say \'\'ou\'re wrong\' is silly,\" he said.

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The comments from Kinahan follow TD Ameritrade\'s announcement that the company would be offering its clients the ability to access the Cboe bitcoin futures market, which launched to much fanfare on 10th December 2017. According to research carried out by the capital markets research and consulting firm Tabb, TD Ameritrade is one of the leading retail brokerages in the country.

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