Plum expands trading platform to 3,000 stocks, ETFs to follow
Plum has added more than 2,000 new US stocks for both UK and EU customers, available as fractional shares to its premium customers.
Fintech savings and investing app Plum has expanded its commission-free trading platform to 3,000 US stocks.
Plum’s customers in both the UK and EU will have access to the new stocks which include the likes of Sony, Airbnb, Duolingo in what is its first major upgrade to its stock investing product since its launch in 2022. The company, founded in 2016 by Victor Trokoudes, is also planning to offer ETFs for customers in the EU later in the year.
The likes of Lightyear,Revolut and others have moved in as part of what is seen as a ‘democratising' of the retail investor landscape dominated by the likes of Hargreaves Lansdown where it can cost £11.99 to buy or sell stocks.
Charles Schwab, the US retail investment giant, became the latest to join the trend in the UK when it launched commission-free access to stocks last week.
“The addition of new stocks comes at an important time, as people are looking to improve their money management in the coming year, said Elise Nunn, Plum’s Product Manager for Trading and Automation
“The goal is to make building a balanced and diversified portfolio accessible for everyone, backed by helpful educational tools, she added.
“By offering such a broad range of stocks alongside funds, we’re making it easier for people to invest in the companies that matter to them, and make their money go further by taking a balanced approach over the long term,” she said.
Plum, which says it has 1.5 million customers in the UK and EU, offers four subscription plans, including a free plan and three premium options (from £2.99 to £9.99 per month). Investing services are only part of its paid-for plans.