What term is used to refer to users of capital in financial markets?

The term that appropriately refers to users of capital in financial markets is "borrowers." Borrowers are individuals, companies, or entities that seek to obtain capital or funds from financial sources, such as banks or investors, with the intention of using that capital for various purposes, such as business expansion, purchases, or other financial ventures. This relationship is fundamental to the functioning of financial markets, where capital flows from those who have excess funds (lenders or investors) to those who need funds to support their activities (borrowers).

In this context, it is important to recognize that while investors, lenders, and traders play crucial roles in financial markets, they do not represent the users of capital in the same way. Investors and lenders provide capital, and traders engage in buying and selling assets, but it is the borrowers who are the direct users of the capital.