Passfolio is a fintech company that allows people from over 170 countries to trade in the US stock market. The platform uses two wholly owned companies, Passfolio Securities and Passfolio Financial to offer easy access to the US stock market.
Passfolio offers commission-free trading of up to $5 in ETFs, stocks and REITs. It also offers a Pro account which features stop orders and margin trading.
Free stock reward
The stock market can be intimidating and expensive, but there are ways to get started with trading without spending a fortune. There are even a few apps that will give you free stocks as a reward.
Passfolio, for example, is a US broker that allows users to trade stocks and cryptos commission-free across borders. The app also offers a variety of bonuses and incentive programmes.
Besides the free stock, Passfolio also offers a referrer program that rewards its members with up to $100 in free U.S. stock for each friend they refer who deposits at least $25 in cash or $50 in crypto through the app.
These rewards are based on the top traded stocks among Passfolio users, including AAPL, AMZN, TSLA, and more. You can sell and withdraw your free stock, but it may be subject to withdrawal limits for a period of time. In addition, you’ll need to report your earnings and pay taxes on them.
Free trading account
Passfolio offers a free trading account for US traders who want to start investing in the stock market. This broker is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA), as well as being a member of the Security Investor Protection Corporation (SIPC).
In addition to commission-free trading, Passfolio also offers fractional shares and a free starter guide to investing. This is a great way to start learning how to invest in the stock market and generating passive income.
The minimum deposit for a live account is $1, making it easy for new traders to get started with low risks. The broker supports a variety of funding methods including bank transfers, TEDs, Remessa Online, SafetyPay and more.
The broker also offers two-factor authentication on its web app and mobile platform. This protects against identity theft and unauthorized logins, while providing a high level of security.
Free TED token
If you are looking to trade in stocks, exchange-traded funds (ETFs), REITs and American Depositary Receipts, passfolio can help you. Its trading commissions are low, and it has a good charting system.
You can use the Passfolio app for iOS or Android to buy and sell shares. It has sophisticated search features and a clean and simple interface.
Traders can also choose to use a Pro account with extra benefits, such as margin trading and dividend reinvestment. For this, you must pay $ 5 monthly or subscribe to an annual subscription for $50.
To open a Passfolio account, you must fill in a short form with your name, country of residence, email address and phone number. You will also need to upload a government-issued ID card and proof of residence. Once you are verified, you can start trading. The verification process may take up to 48 hours. Afterward, you can specify a trusted person who will have access to your trading account.
Free trading platform
Passfolio offers commission-free trading above a trade value of $5 in stocks, ETFs and REITs. The broker has a fast and smooth mobile platform, but it does not offer a desktop version.
The broker’s customer support is available via email, live chat and phone. The email response is super fast, while the live chat response is slightly slower.
Traders can open accounts in any language, and they can choose from a variety of payment methods. Customers can use TED, Nigeria Bank Transfer, ACH, internal transfer (for US residents only), international bank transfer SWIFT and USD paper checks.
The Standard Plan is free, but if you want to add extra features like margin trading and dividend reinvestment, you need to subscribe to Passfolio Pro for a fee of $5 a month. The Pro account also gives you access to the broker’s Smart Portfolios robo-advisor.