Evarvest prepares new type of stock trading app
Evarvest, a Lithuania-based start-up, has plans to launch a stock trading app in the second half of 2019, uniting the world’s stock exchanges and making them accessible to investors across the globe.
The company launched its first public crowdfunding round on the British platform Seedrs, which has exceedingly met its goal of $75,000.
This comes with the news of the partnership with payments platform Currencycloud, to allow cross-border payments for new investors accessing the largest stock markets in the world. The new partnership will provide Evarvest with the ability to scale from its initial launch in five countries including the UK, Poland, Spain, Portugal and Lithuania, and future global expansion, the firms say.
The app, which claims to be deisgned similarly to Spotify, aims to provide an easy to use, transparent and low-cost way to access stocks, bonds and ETFs in over 30 stock markets around the world.
Evarvest has already launched an “Educational Library” aimed at the promotion of financial literacy supporting smart investment decisions.
The firm has already confirmed commission-free access to the US stock market, the largest in the world.
The firm claims the app will have a functional and user-friendly interface, easy-picking stock playlists, no minimum account balances and incentives for community engagement – which “makes it much more similar” to popular social media platforms.
Its users will be able to create and share their own portfolios as well as follow the portfolios of their friends and Evarvest top performing investors.
Another important feature will be a new kind of watchlist, one that tracks your returns since adding a stock to it. This acts as a practice portfolio, where users will be able to try their investment strategies, for free and risk-free.
Founder and CEO Stephanie Brennan says: “The finance industry can’t keep up with the needs and expectations of modern investors the way that tech companies like Facebook, Uber and Spotify can – both in terms of convenience and cost-efficiency. Today, people need easy, quick and inexpensive investment solutions, which aren’t restricted by any barriers.”
The first launch markets it will be available to investors in are the UK, Spain, Portugal, Poland and Lithuania before expanding to other European markets as well as USA, Australia and Asia.