Imagine trading stocks with a company in the United States. Gotrade makes that possible!
Gotrade: What Is It And How Does It Work?
Gotrade is a startup that enables people in 150 countries to invest in fractional shares of companies free of commission. It is one of many apps enticing first-time and novice traders with money-making potential. The app provides educational content and news articles about publicly-traded companies. You can signup here.
Gotrade charges no transaction, custody or inactivity fees. It monetizes by collecting a small fee on deposited funds and interest generated from uninvested cash in brokerage accounts.
A single share of stock in many American companies like Amazon, Alphabet, or Tesla can cost hundreds or thousands [of dollars]. Fractional trading—buying part of a share through a brokerage—makes them more accessible to people within the United States and now worldwide. Some foreign investors, however, often have to pay high fees when using interactive brokers.
Is it safe?
Gotrade is a broker that acts as an introducing broker to Alpaca. Assets are safe at Alpaca. It is a licensed broker-dealer in the United States and is subject to strict regulatory requirements by FINRA(Financial Industry Regulatory Authority) and the SEC(Securities and Exchange Commission). Account balances are insured for up to $500,000 by the SIPC(Securities Investor Protection Corporation).
Gotrade is backed by Y Combinator, LocalGlobe, and Social Leverage—world-class venture capital firms that have backed huge companies like Airbnb, Coinbase, and Robinhood.
Meet The People Behind Gotrade
In 2019, David Grant, Norman Wanto and Rohit Mulani founded GoTrade.
“Our mission is to make investing accessible for literally anyone—b that a first-time investor who needs a helping hand understanding jargon or a seasoned investor who has many years of experience under their belt.”, said Mulani.
How To Deposit Money In Gotrade Account
If you’re a Filipino, you can use your Unionbank, BPI bank or even GCash account to deposit money. The minimum amount that you can deposit is $10, so the equivalent of whatever the given exchange will be. You can invest as little as $1 to buy shares in big companies like Google, Apple & Netflix.
The market is generally open Monday through Friday from 9:30 a.m. to 4 p.m., New York time, with the exception of U.S. public holidays. You can still buy stocks even the market is closed and they will be executed once the market is open again.
Signup for Gotrade now. Download the app below. I’m giving you $2 when you use ‘640735’ as your referral code. The app is free to use, but it plans to add a premium paid subscription program and virtual debit card that users can link to their accounts.
Money-making opportunities are never far away. Join thousands of people like You! Learn to trade, invest and make money trading stocks, without spending huge amounts.