Platforms cheer the rise of the lockdown trader

From banana bread baking to keeping fit - there have been multiple winners of global lockdowns.

But day trading is one that's proving particularly lucrative.

Not least for British fund supermarket Hargreaves Lansdown, which reported a surge in full-year earnings on Friday (August 7).

It's seen record levels of new clients lured to its platform.

Professional asset managers racked up billions of dollars of losses in the first quarter as stock markets plunged globally.

But share prices have regained their footing, helped by the surge in trading by individuals stuck at home.

Hargreaves added 188,000 new clients to its books this year.

And it's not the only trading platform to benefit.

Major U.S. brokerages that reported quarterly results this week also cheered the self-directed day trading.

They say individuals with a bit of extra money and time on their hands have been engaging more in markets.

Bank of America's platform Merrill Edge saw trading volume rise 184% and new accounts up 13% during the second quarter.

It now has nearly 3 million users with a record $246 billion in assets.

Morgan Stanley, which is in the process of acquiring E*Trade Financial, expects similar gains.

Fintech startups like Robinhood, popular with younger traders, have changed the scene for self-directed investing with commission-free trading.

Robinhood said this week it's raised an additional $320 million in funding from new and existing investors.

And there are rumors of an IPO being on the cards.

The company though has come under fire for not doing enough to moderate excesses on its platform - that were linked to a suicide.

Robinhood has said it may make it harder to qualify for sophisticated options trading on its platform

And would improve its user interface.