Wednesday, June 19, 2024
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HomeIndustry NewsSwissquote diversifies into car leasing in deal with Tesla
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Swissquote diversifies into car leasing in deal with Tesla

Diversification is very much a necessity these days, especially given the extremely similar product ranges offered by many electronic trading firms which rely on the same off-the-shelf trading environment.

For electronic trading firms which have gone to the extent of developing their own environment from the ground up and have acquired banking licenses, these constraints do not exist, therefore allowing such companies to compete in different sectors, offer all manner of different products and acquire and maintain client bases that are likely to remain loyal due to the comprehensive financial and lifestyle services that can be provided by one company.

Swissquote is one particular firm that is certainly within that category and has the ability to provide financial services far beyond the remit of standard FX pairs.

The latest development by the company becomes available today, as part of a partnership with North American electric car manufacturer Tesla.

With this collaboration, Swissquote is launching a new online car leasing service, representing an expansion of services into the credit sector.

In Swissquote’s home nation of Switzerland, leasing is a very popular method of financing a new car, and in an increasingly environmentally conscious world, electric cars are becoming the focus of many governments worldwide.

Swissquote’s methodology allows customers to benefit from an enhanced digital experience which enables a swift processing of leasing requests.

FinanceFeeds considers this a genuine breakthrough in diversification of customer-focused product ranges. Some electronic trading companies such as Interactive Brokers have attempted to enter the credit market by giving low interest loans to retail traders based on using their margin capital as collateral, however being able to lease cars via an electronic trading provider is a genuine value add.

It would be a step in the right direction if FX companies with banking licenses went further still and offered mortgages and personal bank accounts. Should that come to fruition, traders would be able to trade the markets and use the profits to clear their mortgage, car loan and personal expenses.

The days of using salary as spending money and having everyday commitments taken care of by a moving market and one single account would genuinely represent the modern ideal of personal financial freedom.

Andrew Saks-McLeod, Head of Research and Analysis, ETX Capital
Andrew Saks-McLeod, Head of Research and Analysis, ETX Capital
With 25 years of experience in the financial technology sector, Andrew is a prominent international figure within the FX industry. His detailed research in editorial and televised form is often the central point of information for executives within all sectors of the global FX business.

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