DriveWealth Expands Partnership with Stake to Bring Commission-Free Trading in U.S. Equities to South America
Successful DriveWealth/Stake Relationship to Expand from Australia to South America
CHATHAM, N.J., Jan. 28, 2019 /PRNewswire/ -- DriveWealth, LLC, a leader in global digital trading technology, today announced the expansion of its partnership with Stake, the first non-U.S. company to offer commission-free trading in U.S. stocks, Exchange-Traded Funds (ETFs) and American Depositary Receipts (ADRs). The DriveWealth platform is fueling the new offering, giving South American users their first zero-commission digital access to the U.S. equity markets, beginning in Brazil in early March.
The new offering will allow Brazilians to easily access the world's largest and most dynamic stock market.
DriveWealth CEO Robert Cortright said: "Our partnership in Australia with Stake has been a great success to date, with thousands of users signing up each month. Both of our companies are focused on bringing simple, digital, affordable access to the U.S. equity markets for investors around the world, and this expansion into South America is an important step forward in achieving that goal."
Stake CEO Matt Leibowitz said: "No matter where you live, you should have equal access to opportunity. Our focus is to deliver the best trading experience in the world's biggest and most important share market, the U.S. stock market. We're on a mission to democratize access to global financial markets and believe that this access should be direct, simple and accessible. Our partnership with DriveWealth aligns perfectly with that mission."
Brazilians can learn more about how to access the new offering and receive key notifications at hellostake.com/br.
With customers and partners in more than 140 countries, DriveWealth is the pioneer in bringing digital access to the U.S. securities market for investors around the world. The company was founded with the mission to democratize investing in the U.S. stock market by making it available to everyone, globally, at an affordable cost. Feature by feature, DriveWealth has eliminated many of the barriers investors typically encounter with legacy brokers, creating its own proprietary infrastructure that allows investors to purchase securities without minimum account balances, high transaction costs or full share quantities. Today, DriveWealth provides this innovative investing technology and its own customizable suite of application programming interfaces (APIs) to partners all over the world, allowing investors everywhere to gain access to the highly stable, liquid and regulated U.S. stock market with a fully accessible, straightforward user experience.
Stake, together with DriveWealth, now makes it possible for those outside the U.S. to access Wall Street, cutting the red tape they would typically experience when opening such an account with an investment broker in the United States and putting their money to work in the world's biggest share market.
About DriveWealth
DriveWealth Holdings, Inc., wholly owns DriveWealth, LLC, a member of FINRA and SIPC. DriveWealth, LLC is a licensed carrying and self-clearing broker offering digital brokerage solutions to broker-dealers, advisors and online partners worldwide through its proprietary investment platform. DriveWealth, LLC delivers access to the U.S. securities markets along with an array of digital products that power both emerging and established financial companies. For more information, please visit DriveWealth.com.
About Stake
Headquartered in Sydney, Stake in 2017 launched a web and mobile trading platform now used by more than 20,000 customers. Its mission is to open up the world of investment opportunity for those living outside the U.S., with a focus on breaking down the barriers that have limited global trading for so long. Drawing on decades of experience and strong partnerships, the Stake platform is straightforward, affordable and easy to use.
SOURCE DriveWealth, LLC
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