Interactive Brokers has announced the launch of its IMPACT Mobile trading platform that is designed to help socially conscious traders and investors to align their investments according to their principles and values.
This would give them a sense of satisfaction for contributed to the cause of a green environment. The way it works is that the users are given a choice of 13 impact values which are basically investment criteria that are in categories like environmental sustainability, LGBTQ inclusion etc. The users would also have a choice of not having specific categories of investments to be listed. Once the investor has chosen the same, then the IMPACT app would produce a list of matching portfolios and also give reference scores of companies as against the above criteria and the user would then have a choice of choosing specific companies with very good scores and customsise their portfolio based on their values.
“The IMPACT ‘Swap’ function goes a step further than our competitors to allow clients to easily re-align their portfolio positions with what they care about the most, which we’re really proud of,” adds Edward Soffer, ESG Manager at Interactive Brokers. “The app is designed for modern-day investors who understand that their investments make an impact and catalyze change.”
The app also provides the ability to swap positions for the same dollar amount from one equity security to another. It also allows the users to make charitable donations directly to organisation via the app. The platform also charges zero commission for US stock trading for US clients which has become a necessity nowadays as the same is being offered by other stock trading platforms like Robinhood in the US. So, everyone else who is offering trading in the US has to offer this feature as well so that they can stay in the competitive space. Trading continues to do well even during pandemic times and it is expected to grow even further in the coming months and so all the trading platforms have restarted giving their various offers to traders to ensure that they can increase their market share and also ensure that their existing users do not move away to newer platforms.
The users of the app will have have the ability to trade cryptocurrencies along with other asset classes as well as contribute to the environment as well as IB has partnered with One Tree Planted to ensure that 25 trees are planed for every $1000 investor deposit that it receives.