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Finance & Economics

Australian neobank launches share trading platform

Jul 22, 2020

Dabble aims to make the US market accessible & affordable for all investors

Xinja Bank

Australian neobank launches share trading platform. Source:?facebook.com

Xinja Bank will launch a share trading platform Dabble giving Australian investors access to over 3000 US shares and exchange-traded funds.

Dabble will operate alongside Xinja’s bank account and savings account ‘Stash’. It will provide quick and easy access to US shares, including Tesla, Facebook, Google, and Amazon.

For Dabble, a flat monthly subscription fee of $8 will be charged for unlimited trading on top of a competitive 1% FX fee per trade. Besides, there are no brokerage fees.

Along with that, Dabble also offers fractionalized trading. That means investors will be able to buy whole shares or a portion of a share depending on how much money they have and how much they want to invest.

Many US-listed companies’ shares trade at very high prices, which locks a lot of people out of the market. So while brand recognition for leading US companies is very high, few people invest directly. And entering the market hasn’t been easy. We want to lower the cost and make it simpler to bring those opportunities to Australians
Eric Wilson, CEO, Xinja

We’ve reported that Lloyds Banking Group?has announced?a partnership with Form3 to accelerate its transformation and enhance customers’ digital experience.

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