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Since its launch in April 2024, mobile-first trading platform 50K.Trade has revolutionized personal finance and investing for Europeans. With its user-friendly interface, commission-free trading, and high interest rates on unused cash, it is creating a buzz, particularly among millennials and first-time investors. If you’re considering using 50K.Trade or are curious about its features, here are seven things you should know about the app.
1. Rock-Bottom Fees
Unlike traditional brokerages that charge fees for every transaction, 50K.Trade allows users to buy and sell real US stocks and ETFs without paying any buy/sell fees. A 0.1% fee applies for European stocks and ETFs.
In addition, over 1,000 CFDs are available for trading, and their trading costs are incorporated into the spread. 50K.Trade does not charge currency conversion fees or account maintenance fees.
2. Fractional Shares
Among the innovative features of 50K.Trade is the ability to buy fractional shares. This means you can purchase a portion of a share rather than a full share, which can sometimes be pricey.
For example, at the time of this writing, Netflix’s (NASDAQ: NFLX) price was over $673 a share. If you wanted to invest less than that, 50K.Trade allows you to buy a fraction of a share.
This feature enables new investors to build a diversified portfolio with a modest amount of capital. Fractional shares make some of the most popular and high-priced stocks accessible.
3. Access to Global Markets
The variety of tradable instruments at 50K.Trade is impressive. For long-term investing, 50K.Trade offers over 5,500 real stocks and ETFs from US and European exchanges. Shares and ETFs can be traded on 24/5. Whether you’re interested in high-flying tech stocks listed on NASDAQ or European blue chips, you can take a position from the palm of your hand.
Additionally, 50K.Trade offers CFDs on over 1,000 financial instruments, including forex, indices, shares, commodities, and cryptocurrencies. Channel your inner hedge fund manager with assets as diverse as Cocoa, Copper and the CAC 40 Index. Leverage as high as 1:30 is available for CFD trading. This means that with an account of €1,000, you can trade up to €30,000 worth of positions in the market.
The 50K.Trade app comprises two separate accounts: one for trading (CFDs) and another for investing (real shares and ETFs). You can easily toggle between the two within the app.
4. Silky-Smooth Interface
One of 50K’s most appealing qualities is its clean and minimalist interface. The app is designed to make trading and investing as simple as possible. With just a few taps, you can easily navigate your portfolio, track your performance, and place trades.
This ease of use can be a major advantage for new investors. 50K.Trade removes the friction often associated with traditional brokerage platforms, providing a straightforward entry point into the financial markets.
5. Attractive Interest Rates on Cash Balances
When you are not trading or investing, you can still earn. 50K.Trade clients can receive as much as 4.2% interest on their uninvested EUR balance, which is paid out daily.
Unlike competing brokers, there is no balance threshold required to receive the high rates of interest on cash.
6. Low Barrier to Entry
The bar is set low at 50K.Trade: you can start trading or investing with as little as €1 and practice trading risk-free with a demo account.
Meanwhile, account funding and withdrawal are a breeze. Clients can easily deposit and withdraw via debit/credit card, Apple/Google Pay, and wire transfer from within the 50K.Trade app.
7. Licensed and Regulated by CySEC
50K.Trade is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). Client funds are segregated from the company’s operational funds and accounts have negative balance protection, meaning you can’t lose more than your initial deposit.
Finally, accounts are insured for up to €20,000 by the Investor Compensation Fund (ICF) in the unlikely event of broker insolvency. 50K.Trade clients can enjoy the peace of mind that their broker is regulated by a top-tier financial authority.
Conclusion
50K.Trade is a fintech innovator disrupting the European investing industry by making real stocks and CFDs readily accessible to a broader audience. With its client-centric approach of low fees, diverse instruments, intuitive design and high interest rates on cash balances, it has become a sought-after platform for beginners and seasoned investors alike.