Devexperts taps DriveWealth to support fractional trading into DXtrade
Technology provider Devexperts has announced the full integration of DriveWealth’s product suite to bring fractional trading in the US markets to its DXtrade platform.
Drivewealth is perhaps best known for providing API-based brokerage technology that offers non-US platforms real-time access to the US equities market through fractional share trading. The company’s technology underpins major fintechs like Revolut, MoneyLion and Unifimoney, among others.
This technology is particularly advantageous for brokers targeting younger and low-income investors who want to actively participate in growing their savings through investing, even with limited available funds. Under this collaboration deal, DriveWealth will serve as an executing broker for US stock trades and also offers DXtrade’s broker clients an affordable gateway to invest in fractional shares.
This partnership expands the capabilities of Devexperts’ DXtrade platform by supporting fractional trading, allowing users to trade and hold positions of less than one full share.
Devexperts offers DXtrade as a SaaS (Software-as-a-Service) product, designed for brokers offering all types of asset classes and satisfying requirements of all major regulators. The global financial software provider has expanded the platform features to provide both broker clients and traders with a revamped web UX/UI, new functionality for subscription management, ex-dividends, and cash movements, among many others.
“As trading continues to become more global, providing U.S. market access to brokers in all parts of the world remains a priority for Devexperts,” said Michael Sprachman, Devexperts Director of Exchange Traded Solutions. “DriveWealth – with its focus on microshares and fractional liquidity – is an ideal partner with our goal of providing brokers with the necessary technology for them to transform the retail trading experience and ensure access to investing services for users at all ages and levels of financial expertise.”
DriveWealth partners with many financial institutions, brokers, app developers, and technology companies to provide users with the ability to open a US-based brokerage account. The company’s offering covers six continents, offering its APIs that partners can use to provide new investment capabilities to their clients.
This collaboration with other platforms enables foreign investors to build portfolios of US stocks, ETFs, and ADRs with low costs starting from $0.99 per trade. The fractional trading feature also eliminates the barriers that many investors face when trying to invest in a diversified portfolio of high-value securities.
In addition, the partnerships leverage DriveWealth’s clearing capabilities to enable retail investors to transfer funds at lower costs, and manage their investments under a completely digital platform.