Passfolio, a new fintech company from San Francisco, now offers access to the US stock market. The company has a mobile app and web platform that lets people in more than 170 countries, including Nigeria, invest in US stocks with no commission fees.
Passfolio’s mobile app makes it faster and easier to invest in United States dollars, stocks, ETFs, and REITs via a United States SEC-registered broker-dealer. Passfolio also supports local funding and deposit methods, making it faster and easier for people to deposit their local currency such and get same-day USD credit in their brokerage account.
The idea for Passfolio came when founder David Gobaud was travelling the world in 2018 for a previous project and noticed how much demand there is for better investment opportunities. In most countries, investments are still an expensive privilege of few.
“At Passfolio, we believe investment opportunities should be borderless. If someone in Nigeria or Brazil wants to invest in the US, they should have a fast, easy, and secure way to do so. Passfolio was founded with the mission of democratizing access to United States investments and making them available to people across the world”
No commission fees for stock trades
Passfolio charges no commission fees for stock trades of assets priced $5 or more², which includes stocks like Amazon (AMZN), Microsoft (MSFT) and Tesla (TSLA). Through the app, you can browse through different categories of stocks, like sectors and top movers.
By charging no commission fees, the company says it makes money from sources like crypto trades through Passfolio Financial, currency conversions from local transfer methods and interest on uninvested cash.
Fractional share trading
Passfolio also supports fractional share trading. This means you can buy or sell as little as $1 of any stock available in the app. By allowing fractional shares, the company democratizes the access to US investments.
Users can also deposit and trade cryptocurrencies like Bitcoin through Passfolio Financial.
Passfolio makes it possible for users to fund their accounts using cryptocurrencies by first converting them into dollars through Passfolio Financial⁴, then moving the dollar proceeds to their brokerage accounts at Passfolio Securities, where users are then able to buy stocks. This way, investors can deposit Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Zcash and other cryptocurrencies and access the US market.
Passfolio’s app is available on the App Store and on Google Play. To create your account, you need to be at least 18 years old or older and have a valid photo ID document (Passport, Driver’s License, National Identity Card, or Residence Permit Card).
Sponsored by Passfolio