Voleo announced that its wholly owned US subsidiary, Voleo USA, has released the Voleo iOS application and taken on its first self-directed customers as a discount brokerage.
“Voleo’s social trading app is now live. Over the past year tens of thousands of people have joined our waitlist, and ahead of our expansion across the country those in California and New York are now able to invest with their trusted peers”, said Executive Chairman, Mark Morabito. He continued, “What impresses us is the diversity of groups who have expressed interest: families, friends, colleagues, teammates, clubs and neighbors. These social cohorts want to share their insights to do better together – and are comfortable doing so because they share a vested interest in one another’s success.”
Voleo’s sophisticated group investment platform enables users to combine their assets and knowledge to invest together with people they know and trust. Directly from their mobile phones, tablets or computers, users are able to propose, discuss and vote on trades in publicly listed stocks and ETFs, wherever and whenever they want, with the majority effecting trades automatically. Voleo’s users may benefit both from splitting the cost of a single trade and the collective intelligence of their teams. Adding a competitive element to a collaborative platform, each person’s decisions are tracked and hypothetical positions managed so they can learn and prove to their friends how things would have gone if everyone had listened to them. The transparency builds a community where top performers can be followed, and the best ideas validated with peers.
Voleo expects to reverse the trend of declining retail investor participation in the stock market by breaking down barriers to entry, facilitating trust and improving financial literacy. Suitable for both active or passive investing, there are clear advantages to collaboration. “To make the future of investing a reality, Voleo USA is pleased to have partnered with carrying broker Apex Clearing, which has long been a leader in the clearing and custody space. Their technology expertise is helping to power our innovative platform”, said CEO, Thomas Beattie.
The Voleo Android application will be released in the New Year as part of nationwide launch. For a limited time, those who wish to practice investing can do so using Voleo SimuTrader. Available in app stores internationally, users can form a team to deploy a simulated million-dollar portfolio, or make multiple clubs and practice different investment strategies.
