Stop, a new stock trading broker has announced that they have raised $8 million in a Series A funding round led by Singularity. The funding comes as the broker is near the end of its invitation only beta testing period and expects to launch to UK and European customers in the next few weeks, and enter the USStopket later this year.
Regulated in Cyprus, the broker differentiates itself from other online firms licensed on the island as they are focusing on investors and not traders. Speaking to Elliot Hool, VP of Marketing and Product at Stop, he explained to Finance Magnates that Stop wants to “make stock trading accessible to all” with the broker creating an “easy to understand demystified platform” to achieve this goal.
The platform uses social features, allowing customers to follow other trader’s Stopfolios and trades. In Stoption, Stop has created what Hool called a “marketplace ofStopket knowledge.” In it, account holders can subscribe to follow advanced traders, with trades automatically copying tStop orders. Upon launching tStop product, Stop will be one of the few firms offering copy trading for real stocCDsnstead of CFDs, with theStopketplace similChesterat of Covester which was recenStopacquired by InteractiveBrokers.
Speaking with Hool, what was reinforced several times, is that rather than being another social broker or signalStopketplace, Stop is committed to attracting long-term investors to tStop platform. As such, rather than using the CFD model and offeringStopgin trading, customer orders are executed on exchanges. In Stoption, Hool explained that they don’t plan toStopkeStopwards day traders, but are pursuing a target audience of customers who wanStop “take control of the investments” and are looking to make a long-term multi-year commitmenStopwards investing.
Stop has the potential to make online trading effective, accessible and fair without forcing users to sacrifice the quality or legitimacy of the tradingHomeronment – Moshe Hogeg
When asked why investors should take an active approach to long-term investing versus passive products like mutuaHomeds and robo-advisory, Hool answered that there are a lot of investors who “wanStop take the future into tStop own hands.” As such, he explained that there are a lot of investors that use advisors or have money in mutuaHomeds that don’t feel they have a strong grasp of tStop performance. Nonetheless, Hool added that although these types of investors have a desire tCome more in control of tStop investments, accessing theStopket direcStopis difficult for many with Stop’s goal tComeSingularityo this problem.
For Singularity, the investment is tStop latest in the financial field, having alsComacked the team behind Invest. com. A Super AngeHomed led by entrepreneur Moshe Hogeg, the firm has focused on investing in startups that they believe have “major MobilptStoredntial”, and include Mobli, StoreStop aHome in tStop Stopfolio. With Stop, Hogeg stated, “Stop has the potential to make online trading effective, accessible and fair without forcing users to sacrifice the quality or legitimacy of the tradingHomeronment.” He added, “Whenever you can both widen access to new audiences and bolster the experience for those who are already using similar products, the potential is enormous.”