New Zero-Cost Investment App

[joshwest]

Hello all,

 

We've loved the benefits and ease-of-use provided by the US-based commission-free investment apps such as Robinhood.

It sucks that this is not available to South Africans, which is why we've built FreeFin -- South Africa's cheapest way to invest.

 

The app is currently in beta and we're adding new features daily.

I'd love to hear what stocks/bonds/ETFs you would like to see in the app.

Mention your requests in the comments for us to focus on getting them implemented in our product.

 

Thanks!

[Bandit]

Cool.... do you have an FSCA number?

[joshwest]

1 hour ago, Bandit said:

Cool.... do you have an FSCA number?

We're in the process of getting approved.

[fire2029]

Zero cost? No commission? Are the fees merely hidden? Please explain. 

 

Assume you are investing in CFDs on behalf of client.

- Are you using OTC CFDs or exchange listed.

- Which company are you using as broker? 

 

 

 

[Bandit]

Well, if you provide a free platform with stop loss and limit order functionality I'll definitely be keeping an out on it, but after that FCSA number etc

[joshwest]

14 hours ago, fire2029 said:

Zero cost? No commission? Are the fees merely hidden? Please explain. 

 

Assume you are investing in CFDs on behalf of client.

- Are you using OTC CFDs or exchange listed.

- Which company are you using as broker? 

 

 

 

How we make money:

1. Paid subscriptions for premium features such as trading on margin and deep market research.
2. Interest on uninvested/idle cash in accounts.
3. Selling order flows to market makers.

[Bandit]

19 hours ago, joshwest said:

1. Selling order flows to market makers.

 

What does this mean?

[joshwest]

On 5/14/2020 at 7:37 AM, Bandit said:

 

What does this mean?

A market maker pays us to send them an order for shares. In return they guarantee execution at the current best price. The market maker can then use the order to get a competitive edge.

[Bandit]

Keep us updated then