Passfolio is a product of Passfolio Securities, LLC, an introducing broker, which means that it uses a clearing brokerage for back office support, like settling trades you place. Using a clearing broker is the industry norm when a company like us wants to let its users place trades.
Our clearing broker is DriveWealth, a well-known investment platform from the U.S., has been in the market since 2012 and its brokerage platform is used by hundreds of thousands of clients in over 150 countries!
Below we put some more information clarifying the role of a clearing firm.
Clearing firms have three main tasks:
Passfolio charges no commission fees* in stock trading, which helps investors keep more of their money. To trade a stock, please follow...
We currently accept two types of orders: market orders and limit orders. What are market orders? Market orders are orders that are...
You have all ownership rights and are registered as the beneficial owner of any stock you buy in Passfolio. That means every dividend and...