Albanians grow interest on online stock markets

Albanians grow interest on online stock markets

Tirana, 10 August 2016/Independent Balkan News Agency

While the country doesn’t have a stock exchange of its own yet, Albanians who are interested on investing in it are looking into online stock trading.

Although it has a high risk, 250 Albanian investors invested 1 million USD in these stock markets.

Financial Monitoring Authority says that this activity has been carried out by two licensed brokerage firms.

Meanwhile, the Albanian market has at least 10 unidentified subjects that offer their activity in an informal way. They offer this service without the authorization of Albanian authorities. The risk of investments in these schemes is 100% and nobody is held responsible.

Albanians are not fully educated in financial issues. The majority of them do not know what online stock markets are, but Albanians have two known tendencies which are exploited by online trading firms: the desire to make money and the repeated experiences of ponzi schemes which they have rarely given up.

Recently, there have been many ads which entice Albanians to invest their money online in exchange of interests which are many times higher than bank deposits or treasury bills.

Under these conditions, the 1 million USD amount only refers to the two companies which are officially known by the Albanian state, because nobody knows how much money has gone into tens of other companies which have invested these money in online stock markets. Thus, a full figure is difficult to be given. /