Passfolio, a commission-free trading app for stocks and ETFs, recently expanded the depth and breadth of its product portfolio. Passfolio’s CEO, David Gobaud, spoke with Benzinga regarding the firm’s prospects.
What is it?
Passfolio is a commission-free trading application that allows global access to U.S. markets and cryptocurrency.
The idea behind Passfolio emerged after Gobaud sought to enable global investors access to the U.S. stock market and dollar.
“Our mission is to democratize investment opportunity,” said Gobaud. “People are looking for good investment opportunities around the world and, you know, some of the best investments in the world are United States stocks, or just the U.S. dollar.”
The firm’s core offering provides zero-commission trading for U.S. stocks, ETFs, REITs, and cryptocurrencies to over 170 countries.
“We’re one of the few U.S. stock trading apps that also natively have cryptocurrency trading in the app and support cryptocurrency deposit,” Gobaud said. “We offer trading in 9 different cryptos, including Bitcoin, Bitcoin Cash, Ether, and Z-Cash.”
“We’re a Robinhood for the world.”
According to Gobaud, due to international regulatory laws, it can be difficult to bring U.S. markets to other countries.
“A lot of people just want access to U.S. dollars or the U.S. stock market, which, you know, in the U.S., we take for granted,” the CEO said. “So we enable equal and fair access to all investments.”
Also a large differentiator: Passfolio allows users to purchase securities in dollar amounts, as opposed to share quantities, making investments more accessible to small accounts.
“I think it’s important for people, of any age, especially early in their career to start investing. The way compound earnings work is, you know, the earlier you get started, it can make a huge impact in your retirement.”
Next Steps: Investment Advice, Foreign Assets, Options
“You know, one thing that we’ve heard a lot from our users is they actually want investment advice, or even someone to manage their investment.”
According to Gobaud, the company is on a path to add robo-advisory tools, as well as expand the number of assets available on the app: “We want to add foreign stocks, margin access, and options, too.”
In five years time, Passfolio aims to be a holistic solution for trading, whether passive or active.
To find out more about how you too can invest in U.S. stocks and ETFs, visit passfolio.us.
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