The former CEO of a high-speed-trading firm is taking aim at Robinhood with a fintech startup that wants to pay you to trade
in recent months, and at least one firm is betting it could soon go through the floor.
Alan Grujic, who was previously the chief executive of Infinium Securities, a high-frequency-trading firm in California, founded the San Francisco-based startup All of Us last year with the intention of offering an investment platform with a transparent pricing model that shares some of its overall revenue from noncommission sources with customers. He says it will fully launch in January, and in September had around 100 people on a waitlist.
All of Us wants to base its revenue stream on a maximum 50-basis-point fee on client assets held on the platform. Under his pricing model, Grujic needs to reach $2 billion in assets to reach what he considers scale, he said. He does see a path to that milestone within the first year — although he admits it is an aggressive goal. In an effort to drum up attention, he said the first 10,000 customers would have zero fees whatsoever for the first year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Veritas Genetics is halting operations in the US - Business InsiderWhile Veritas' future in the US is uncertain, its niche service and value proposition could help it regain footing as it mulls seeking out a potential buyer:
Read more »
US suspects Iran is behind increasingly sophisticated rocket attacks on US bases in IraqThe US government believes that Iran is behind a series of increasingly sophisticated rocket attacks on joint US-Iraq military facilities in Iraq, several US officials tell CNN. The attacks have taken place as the US has grown increasingly concerned that Iran may be planning new provocations against US troops and interests in the region.
Read more »
Massachusetts hand-dryer maker gets helping hand from U.S.-China trade warThe U.S.-China trade war is creating something William Gagnon once thought impos...
Read more »
China steps up US soybean purchases as trade talks drag onBetween September and November, China's imports of American soybeans increased 13 times from the same period last year, according to Xiaoping Zhang, Greater China Regional Director for the U.S. Soybean Export Council.
Read more »
Mulvaney says trajectory toward Phase 1 U.S.-China trade deal 'pretty good'Acting White House Chief of Staff Mick Mulvaney said on Tuesday the prospects fo...
Read more »