Passfolio Review
Rana Adnan | March 25, 2022
Table of Contents
Passfolio is a San Francisco fintech company that offers online trading services to a global clientele. The firm is a United States Money Services Business and SEC-registered broker-dealer. The broker allows traders in over 170 countries to invest in various financial assets, including United States dollars, stocks, ETFs, and REITs, using their local currency or cryptocurrency.
Broker Pros / Cons
- Intuitive mobile trading platform
- Educational resources
- Multiple financial instruments
- No MetaTrader trading platforms
- No standalone trading tools
- No CFDs
- Restricted leverage
Summary
Passfolio was founded in 2018 with the mission of democratizing investment opportunities and providing fast, easy, and secure access to the US market. They provide traders with a proprietary trading platform that is available as a mobile app. The minimum deposit required to begin trading is $100. Traders also benefit from educational resources and a client support team.
Regulation
Passfolio is the brand name of Panchain, Inc. Passfolio Securities LLC and Passfolio Financial LLC are fully-owned subsidiaries of Panchain, Inc. Passfolio Securities LLC is a member of the Financial Industry Regulatory Authority (FINRA) and the SIPC.
The broker states that its services are not available in locations or countries and territories where the services may be illegal. If you access the broker’s services from other locations, you do so at your own risk and are responsible for compliance with local laws. In particular, Passfolio is not authorized by the Brazilian Securities and Exchange Commission (CVM) to offer securities distribution services to investors who reside, are domiciled or incorporated in the Federative Republic of Brazil.
Platforms
Passfolio offers an easy-to-use trading platform that is developed in-house for trading the available financial assets. The platform has a user-friendly interface, which makes it suitable for all levels of traders. It allows you to create your account in a few minutes, add funds to your account using your local currency, and start investing with just $100; there are no commission fees. The broker presents its proprietary trading platform as mobile trading apps that are compatible with smartphones running on Android and iOS.
Passfolio Trading Platform
Tools
There is no standalone trading tool on the broker’s website at the moment. Traders are expected to make do with the built-in tools of the Passfolio trading platform.
Education
The broker’s website contains a selection of educational resources to enhance clients’ trading skills and knowledge. They include blogs, articles, trading guides, and more.
Passfolio Trading Articles
Markets
Passfolio offers the following financial instruments: United States Dollars, Stocks, ETFs, Cryptocurrency, and REITs
Accounts
The broker allows clients to create a live trading account to begin trading online.
Support
The broker provides traders with a customer support team that is polite and prompt in response. They can be reached via telephone, email, Live Chat, and social media.
Funding
The broker accepts the following payment methods for both account deposits and withdrawals: bank transfers and electronic payment processors.
Signup
To open an account, click on the Get Started button. Fill out the account application form properly, entering your tax number, name, address, email, and phone number. You will be required to scan your ID and verify your email address to complete the process.
Passfolio Account Opening Page
Compare
| Broker Features | AvaTrade | IG | IC Markets | |
|---|---|---|---|---|
| Founded | 2006 | 1974 | 2007 | |
| Regulated | ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA | FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF | ASIC, CySEC, FSA, SCB | |
| Country | Australia, Ireland, South Africa, Japan, British Virgin Islands | Australia, UK, USA, Switzerland, UAE, Singapore, Japan | Australia, Seychelles, Bahamas, Cyprus | |
| Min. Deposit | Min $250 Deposit | Min $100 Deposit | Min $200 Deposit | |
| Commission | From $0 | From $0 | From $0 | |
| Spreads | Fixed | Variable | Variable | |
| Leverage | 1:400 | 1:200 | 1:500 | |
| Instruments | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs | Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs | |
| Platforms | MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile | MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile | MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile | |
| Type | Market Maker, STP | STP, ECN, DMA | ECN | |
| Funding | Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill | Wire Transfer, Credit/Debit Cards, PayPal | Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli | |
| Visit Broker | Visit Broker | Visit Broker | Visit Broker |
Conclusion
Passfolio is an online financial services provider that operates out of San Francisco, offering access to the global financial markets via its proprietary trading platform. Traders benefit from educational resources and a client support team. The minimum deposit required to open a live trading account is $100, while no commission is charged on trades.
Min $100 Deposit
Passfolio is a US-based online financial services provider offering traders in over 170 countries access to the stock markets via its proprietary trading app.
About the Author
Rana Adnan
I am an introverted long-distance runner and a Forex trader with more than 7 years of experience. Reminiscences of a stock operator was the first book that changed the whole concept of trading for me.
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