Gewinn, an Austrian business magazine, published a large review of local brokers in May; the experts included Freedom Finance into the top neo broker list.
By neo brokers, one means new online brokers that target young investors and focus on small order sizes, intuitive trading, and mobile device optimization. The pandemic and the lockdown triggered much interest towards such brokers, as many people changed their opinions regarding finance and turned to new investment options that became available.
Previously, regular online brokers were a threat to the traditional banking industry; currently, neo brokers are the competition of both. One of the core neo broker advantages includes low or zero commissions; this is quite affordable for neo brokers, as they don't need to keep a lot of offices and staff members.
Alongside with Freedom Finance, the following popular brokers were included into the list:
- TradeRepublic, which enables investing with zero commissions through mobile devices.
- Scalable Capital, with a €2.99 monthly subscription.
- Bitpanda, providing both stock and precious metal trading.
Still, Freedom Finance does stand out, as this is the only EU based broker that is listed in the NASDAQ (FRHC). Besides, Freedom Finance's platform enable its clients to trade US IPOs with a minimum investment amount of as low as $2,000; this means European investors can buy US stocks at their initial prices, even before the trading starts.
To view the complete review in Gewinn, click here.