Another mobile stock trading app has launched, this one from Flip Investor Inc., which was founded in 2017. The Scottsdale, Ariz.-based software-as-a-service company launched the app to serve individual retail investors with commission-free trades by “cutting out the middleman (i.e., financial advisors, mutual funds, brokers and banks).”
The app is meant to provide retail investors access to algorithmic investing portfolios with a transparent pricing structure, according to a company statement.
“The app uses proprietary algorithms developed for over 20 years by Wall Street banks like Deutsche Bank, Brevan Howard, Tudor and Bank of America. The algorithms are designed to minimize risk and portfolio drawdowns,” according to the statement.
Investor assets are held at Velox Clearing, a registered clearing broker, and iFlip uses iFlip Execution Services (a division of Southern Trust Securities) as its introductory broker. Southern Trust Securities is a registered broker that is regulated by FINRA and the SEC.