Passfolio review is a common concern among investors because money is difficult to come by and investors try to invest wisely.
If you’d like to know if passfolio is legit and safe for investment, then read this post is for you? We will answer most of your questions about passfolio, and lots more in the article.
The world is indeed a global village with the advent of technology. Now, you can stay in the comfort of your home and buy stocks from the U.S with an app called the passfolio app.
Before now, it was difficult to invest in the United States. Today Passfolio, your new US Stock broker-dealer has made it easy.
This investment solution is available to Nigerians and people in over 170 countries – thus, it is globally recognized.
Interestingly, with your local currencies, local deposit methods and padfolio app, you can invest in 3,800+ stocks, ETFs and REITs from the U.S stock market without paying for commissions.
NOTE; ETF means Exchange Traded Fund while REITs means Real Estate Investment Trust.
Without further ado, let’s introduce you to the owner and founder of passfolio.
Who owns passfolio?
Passfolio is owned by David Gobaud. He saw that there was a high demand for a better investment and then invented passfolio in 2018.
David realized that only a few people had access to the united states’ investment.
So he created this Fintech solution to bridge that gap and make investment available to people in over 170 countries.
This he’s achieved by using international transfer methods and also by cooperating with local exchange providers.
The goal of the CEO is to provide commission-free stock trading for all.
Passfolio review,Is very Legit and safe?
Yes, it is safe and legit because;
1.The U.S. securities and exchange commission ( SEC) monitors and regulates it.
2. FINRA (The financial industry regulatory authority) also regulates it.
3. It’s a new legit US broker-dealer.
4.Passfolio is a member of FINRA and SIPC, these two insures customer securities of it’s membership to $500,000 US dollars.
What does passfolio mean?
Passfolio is the name of the financial technology(Fintech) company that allows you to buy stocks anywhere you are from the American Stock Market. It is based in San Francisco.
Just like Piggyvest is the name given to the Fintech solution in Nigeria that helps users to save money and invest through an app.
Interestingly,Passfolio has a website platform and a mobile app.
How does a passfolio work
It works by giving access to people around the world the opportunity to access and invest in US stocks.
Besides,It uses the service of it’s two subsidiaries -passfolio Financial, LLC and Passfolio Securities, LLC.
These are the significant aspects to know about the App.
1.The passfolio app has over 100k downloads and reviews on the Google Play Store.
2.With this app, you can easily invest in big companies like Google, Apple, Amazon, Microsoft and lots more in the United States.
3.You can also buy,sell and own shares of big U.S. Companies from the comfort of your home with your phone.
4. You can search for stock REITs, ETFs from various industries.
5. With your app, you can monitor prices and get statistics of your assets.
6.You can buy the any crypto currency of your choice…..Bitcoin, Litecoin, Ethereum, Zcash and lots more.
7.You can easily fund your account with cryptocurrency and change your funds to U.S. dollars with the help of Passfolio Financial.
8.The app helps you to start up your investment with no commission fees by simply creating your account in just a few minutes, and then funding it using your local currency.
How To Start Investing With Passfolio
As an Android phone user, Go to Google Play Store and download the app.
IPhone users can get it from their iOS device.
Register and gain access to it.
Passfolio minimum deposit
It has no minimum deposit, to begin with. You can start your investment with any amount of money you want.
Passfolio Nigeria is fully registered with the Nigeria Corporate Affairs Commission (CAC).
Nigeria Bank Transfer Fees
Passfolio payment partners charge a 1.4% fee from deposits made via bank transfer in Nigeria.
Also,your deposit is converted to the dollar equivalent at the moment.
That is to say, If $1 = #500 in Nigerian currency, your deposit will be converted using that exchange rate.
Passfolio then takes a 0.5% fee as their charge on the dollars and put the balance in your account.
Details of how to deposit are available in the Deposit section of your Account menu. Please follow these steps:
1. Go to “Transfer”;
2. Then “Deposits”
3. Select the account you want to deposit to; stocks or crypto.
4. Choose Bank Transfer (Nigeria);
5. Copy the details in your bank’s mobile app or desktop and complete the deposit.
Limits and Minimums
You can begin your investment journey as low as US $1.
For limits,every country is different and there might be limits imposed by regulation.
So, we suggest you educate yourself on your country’s regulations on sending money abroad before depositing a great amount of money.
Investment is the only way to transform your active income into a passive income.
Without it, you work longer than you should for money.
Passfolio is a great investment platform that guarantees passive income I.e the money you make even when you’re sleeping.
Think about it and take the bold step now. Do you have any other questions? Let us know in the comment section.