US brokerage firm DriveWealth, which provides services for individuals and institutions investing online, has partnered with Australian peer Stake to provide a web-based platform that enables Australian investors to open a live US trading account and access American equities, transfer funds at lower costs, and manage their investments under one umbrella.
DriveWealth’s stated mission is to make investing easier and offer a “frictionless” mobile experience for its users. Commenting on the newly-launched service, the firm added: “The web-based application will allow investors to trade at the competitive cost of US$5.99 per trade. It will also give them access to fractional share investing, in turn allowing them to diversify their portfolios with any dollar amount.”