FCA-regulated Emma launches stock trading ahead of crypto, commodities, forex

Rick Steves

Emma has added commission-free stock trading to its “financial super app” which soon will expand to cryptocurrencies, commodities and forex.

Emma has added commission-free stock trading to its “financial super app” which soon will expand to cryptocurrencies, commodities and forex.

The FCA-regulated budgeting app quickly grew its user base to more than 1 million customers in the United Kingdom after first catering to 30,000 early birds who registered on the waiting list.

Emma allows users to see all their financial life in one single platform, track day-to-day spending, and set budgets. With the launch of Emma Invest, customers can access more than 2,000 fractional global stocks and trade in real-time, commission-free.

Emma Invest enables users to track stocks with watchlists, view stocks under categories like top trending, female CEOs, biggest daily movers, view the latest market news and more.

Emma goes from budgeting to multi asset trading

Edoardo Moreni, Chief Executive Officer of Emma, said: “Emma was built to empower millions of individuals to live a better and more fulfilling financial life. Our plan has always been to bring access to financial services closer to our users. We are thrilled to be able to release commission-free trading. Investments will be just one of the many verticals we will fully integrate with Emma. Our team is working on a savings account which we plan to release by the end of the year.”

The firm announced it is working on expanding Emma Invest’s trading offering beyond stocks in order to include cryptocurrencies, commodities, forex.

In addition, the investment platform will soon include Social Trading to allow users to share their investments, see what their friends are doing and help build a stronger retail investors ecosystem across Europe.

The Financial Conduct Authority approved Emma only one month after the app’s launch of the beta version with the goal of operating as a wealth manager, an artificial intelligence that sits between users and their financial services.

The London-based firm calls itself the “banking app for millennials” and has already integrated several financial services firms, including challenger banks Revolut and Monzo.

Emma is an anagram of the initials of its founders (Marino and Edoardo Moreni, who met at the University of Manchester).

The firm is taking advantage of the UK’s new Open Banking initiative stemming from the updated Payment Services Directive (PSD2) and designed to promote competition in the sector by forcing banks to allow challengers secure access to their customer details.

Read this next

Metaverse Gaming NFT

LongHash launches $100 million fund focused on DeFi, NFT, GameFi, Metaverse

LongHash Ventures has backed more than 60 projects, including Polkadot, Astar, Dodo, Coinshift, Acala, Zapper, Gnosis Safe, and Balancer.

Digital Assets

Midas launches investment strategies for the ‘crypto winter’

According to Iakov Levin, the platform’s CEO and founder, Midas will roll out more strategies in the upcoming months to achieve higher flexibility and further expand the investor toolkit.

Digital Assets

Bitcoin.com Wallet adds several ERC-20 tokens

The product expansion includes representatives of the DeFi world, the Metaverse, and the largest stablecoins.

Market News

Savvy Investors to Profit Whether the Stock Market Rebounds or Not

Equities have gone up enormously since the low. SP500 has gained 13.88% since June 17. In August, the indices drifted sideways. On Wall Street, veteran investors expect a move in either direction.

Industry News

Wall Street-backed MEMX obtains SEC approval for options trading platform

The company has raised more than $135 million in funding from 18 stock trading and investing heavyweights, including BlackRock, Citadel Securities, and Morgan Stanley.

Industry News

Amundi US launches ESG strategy that seeks to outperform S&P 500

Amundi’s Responsible investing team includes more than 45 specialists, and its ESG analysis covers more than 13,500 issuers across debt and equity.

Industry News

Verto launches embedded FX payments solution

The Verto API automates currency conversions, tracks payments and exchange rates in real-time, and is being launched in the follow-up of a $10 million in Series A funding last year.

Industry News

SEC awards over $16m to whistleblowers after another successful enforcement action

The program is 10 years-old and has arguably played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice.

Digital Assets

Ripple submits most succint explanation of Hinman issue in XRP lawsuit

It might be useful to get up to date as this could be the end of the road for the SEC.