Digital bank Vivid starts trading stocks and exchange-traded funds

Wednesday 24 February 2021 10:43 CET | News

The Germany-based digital bank Vivid has announced a launch of brokerage functions on their mobile financial platform.

Vivid Money now offers customers the opportunity to invest money directly from the ‘main pocket’ of their account into any United States and European stocks. The app then converts EUR into USD at a live currency exchange rate.

The reasoning, according to Vivid, behind this new investment function is a partnership with the Germany-based financial services institute CM-Equity, which is responsible for the execution of every trade. Customers can invest in a share or a variety of exchange-traded funds (ETFs). Vivid uses fractional shares, meaning that users can invest in a portion of a company share, and therefore do not need a certain amount of money to begin investing. Users can therefore purchase stocks based on the amount they want to invest financially, meaning they may end up with a fraction of a share, or more than one share. Vivids goal is to allow users to invest in stocks and ETFs for a minimum of EUR 0.01 an unlimited number of times and without any commission.

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Keywords: online banking e-payment, online banking, digital banking, challenger bank
Categories: Banking & Fintech
Countries: Germany
This article is part of category

Banking & Fintech