ViewTrade Holding Corporation, a US-based global digital trading technology and Seminario y Cia Sociedad Agente de Bolsa S.A., a global trading platform in Peru, have partnered to allow the latter’s clients trade US stocks.
ViewTrade will provide Seminario with a full set of fintech services, simpler and more straightforward account opening and account funding process. Additionally, this alliance will enable investors on Seminario platform to invest in fractional shares of US stocks.
Allowing clients to purchase fractions of stocks has become the next chapter in the red-hot battle among the US brokers. As they look beyond the no-fee trading war, it’s the latest in a series of moves by brokerage firms meant to attract customers.
ViewTrade, headquartered in Jersey City, New Jersey, already partners with many financial institutions, brokers, app developers, and technology companies to provide users with the ability to open a US-based brokerage account and invest in the US equities market. The company’s offering covers six continents, offering its APIs that partners can use to provide new investment capabilities to their clients. It also connects customers ranging from broker-dealers, RIA’s, fintech innovators and financial institutions directly to US markets.
Commenting on the news, Kenneth Chan, Managing Director of ViewTrade Holding Corporation and President of Orbis Systems, said: “This partnership is revolutionary for Seminario and its retail clients in Peru, and we are proud to offer the turnkey solutions that are driving it. Before now, Seminario’s retail customers were primarily placing trades in U.S. securities via telephone, speaking with a locally registered Seminario representative each time they wanted to initiate a transaction. This integration is another example of how we are helping to democratize investing across the globe, and we look forward to enabling further growth for Seminario.”
“We are happy to partner with leading fintech innovator ViewTrade. The plug-in fintech infrastructure and turnkey solutions that ViewTrade provides are now enabling us to meet the heavy retail investing demand we are experiencing in Peru – and in the most efficient way. This has been an incredible milestone in our fintech evolution and we look forward to continuing to offer our clients a more frictionless experience for investing in U.S. securities,” added Javier Cuzzi, Head of Methods and Systems Organization.
Through this partnership, Seminario will also have full access to ViewTrade’s financial services capabilities, including swift account opening, clearing, funding and withdrawals, and trading in US securities, including fractional.
Investors using the platform will not see a difference with the interface as Seminario is able to fully control the user experience. ViewTrade’s onboarding APIs easily plug into the back-end to handle onboarding flow, which includes a fully-automated identity verification process, as well as global AML sanction screening.
