Millennial women are increasingly embracing the identity of “trader,” signaling a major generational and cultural shift in how women interact with markets, according to Charles Schwab’s 2025 Women Investors Survey.
More than one-third (37%) of Millennial women investors now consider themselves traders, a figure that far outpaces Gen X women at 23% and Boomer women at just 11%.
This data reflects a new era of market participation where younger women are not just passively investing for long-term goals like retirement, but actively trading, experimenting with asset classes, and taking ownership of their financial futures in real time.
Whereas older generations of women traditionally viewed investing as a means to save steadily for the long term, Millennial women are leaning into a hands-on approach that mirrors many of the characteristics typically associated with professional or semi-professional traders.
According to Charles Schwab’s data, among Millennial women investors, 28% have owned or traded options or futures—well ahead of Gen X women (19%) and Boomer women (10%).
Even more striking is their involvement in cryptocurrencies, where 51% report current or past ownership, compared to just 7% of Boomers.
Additionally, 24% have experience with alternative investments such as hedge funds, private equity, or real estate partnerships—again, triple the rate of Boomer women.
According to Schwab, Millennial women are more likely to enter the markets out of personal curiosity and a desire to learn, rather than solely to save for retirement.
Only 47% of Millennial women cited retirement as their primary motivation to begin investing, compared to 62% of Gen X women and a full 77% of Boomers.
Instead, 40% said they became interested on their own, and 36% started investing specifically to learn how the markets work.
This deeper engagement is also fostering a higher sense of confidence. Thirty-one percent of Millennial women report feeling very confident in their investment strategy—stronger than their older peers—and 56% say that investing gives them a sense of empowerment.
“Our survey revealed that Millennial women are embracing investing in compelling ways. They’re entering the market earlier, exploring a broader range of asset classes, and exhibiting greater confidence in their investment decisions compared to previous generations,” said Jeannie Bidner, Head of Schwab’s Branch Network.
“Notably, they’re also more likely to identify as investors and traders – and to draw a sense of empowerment from the experience. These exciting trends show how the democratization of investing is really taking hold with a critical demographic,” she told Traders Magazine.
In many ways, Millennial women traders are reshaping the market landscape itself. They’re turning to digital platforms, leveraging online tools, and participating in financial communities that emphasize collaboration, knowledge sharing, and real-time decision-making.
Sixteen percent said they joined an investment club or community when they first began investing—double the rate of Gen X and Boomer women.
Moreover, they are significantly more likely to talk about finances with friends (62%), use social media for research and advice (42%), and treat financial discussions as a means of strengthening personal relationships.
This behavior reflects a blend of traditional investing principles and modern trading culture. Patience and discipline still rank high among their perceived strengths—47% and 39% respectively—but Millennial women are also more likely to highlight planning, open-mindedness, and curiosity as key traits.
Thirty-seven percent cited planning and strategy as a top strength, and 35% noted open-mindedness—compared to just 22% and 20% of Boomer women, respectively. This mix of long-term strategic thinking and short-term market engagement makes Millennial women a unique demographic in the trader community.
The rise of Millennial women traders also challenges long-held industry assumptions about who participates in markets, how they learn, and what they value. While previous generations may have lacked access to resources or confidence to engage actively in trading, today’s platforms and educational tools are more accessible and democratized than ever before.
Schwab, like other major firms, sees this demographic shift as a powerful opportunity. “At Schwab, we believe that investing is key to financial freedom,” Bidner said. “The way that Millennial women are making investing their own and creating a network effect by sharing their learnings is an important emerging trend, and we’re excited to support them in that effort.”