If you live in an emerging country, investing in US stocks can be an interesting way to reduce your exposure to local markets and hedge your portfolio against economic downturns in your country (consider the economic crisis in Venezuela or Argentina, for example). In addition to diversifying your portfolio, investing in the US allows you to potentially earn money in a typically strong currency: the US dollar.
With Passfolio Securities, people in over 170 countries can invest in US stocks from the palm of their hands and without having to open a US bank account. In this post, we’ll go over details about how Passfolio Financial manages to reach a client-base all over the world by supporting cryptocurrencies and partnering up with local payment providers.
Passfolio Securities clients in Latin America, for example, can deposit funds into their brokerage accounts via local transfer methods like TEDs. This is possible due to partnerships with payment providers like FacilitaPay. Soon, similar functionalities will be available in more countries around the world.
For TED deposits and withdrawals we charge a 1.2% currency conversion fee + 0.38% IOF. An additional R$2.00 is charged for TED withdrawals.
It’s also worth mentioning that Passfolio supports fractional shares¹ and charges no commission fees² for stocks, except for securities less than $5, which cost $0.02 per share. See our fees here.
Passfolio clients can also deposit and trade cryptocurrencies like Bitcoin and Ethereum through Passfolio Financial*. In fact, you can trade the following 9 cryptos on Passfolio at the moment: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Zcash, Orchid Token (OXT), Basic Attention Token (BAT), Chainlink (LINK), and the Dai Stablecoin (DAI).
Passfolio Financial’s cryptocurrency support enhances its global reach because cryptos are truly borderless assets. For those who don’t know, cryptos can be transacted electronically and are generally not issued by any central authority, which is why they can be used anywhere in the world.
To purchase securities using cryptocurrencies, you must first convert them into U.S. Dollars using Passfolio Financial LLC. You must then move the U.S. Dollar proceeds to your brokerage account at Passfolio Securities LLC where you can use it to buy securities.
Currency and cryptocurrency exchange services provided by Passfolio Financial LLC (“Passfolio Crypto”), a US Money Services Business registered with FinCEN. Passfolio Financial LLC is not a broker-dealer. Cryptocurrencies are not protected by FDIC or the SIPC.
Passfolio Financial connects investors to Gemini, a widely used global exchange (over 2.5 million BTC were traded on the platform in the past two years). By doing so, we bring you better liquidity and reduced fees for your trades.
Gemini is a licensed New York trust company that undergoes regular bank exams and is subject to the cyber security regulations promulgated by the New York Department of Financial Services. Below are some of the platform's specs designed to improve security:
For more information on Gemini's first-in-class security measures, visit https://gemini.com/security
To create a Passfolio account, you just need to be at least 18 years old and submit some basic information (get started here). After submitting your information, your application will typically be reviewed and approved within one business day. If any additional information is required, we’ll get in touch by email.
In order to deposit crypto into your Passfolio Financial* account, you’ll have to withdraw funds from an external crypto wallet. All you have to do is copy and paste your Passfolio crypto wallet address into the external wallet and specify the amount of cryptocurrency you’d like to transfer.
To find your crypto wallet address on Passfolio Financial, just access the transfer tab then select “Deposit” and “Deposit Crypto”. After you’ve done this, you’ll be given the option to select what cryptocurrency you’d like to receive (e.g. Bitcoin). It’s that easy!
For crypto market orders, Passfolio Financial charges a price spread of 0.85% plus a fee based on the order amount:
For crypto limit orders, we charge a fee of 0.35% per order. Opening, maintaining, and closing your crypto account are all free. Please see our fees here.
If you need any help or have any questions about Passfolio, we highly recommend you check out our Beginners Guide - there you’ll find just about everything you need to know to get started as a US investor. Also check the cryptocurrency section of our Help Center and feel free to reach out to our responsive support team at support@passfolio.us
¹ Please see our fractional shares disclosure.
² Securities less than $5 cost $0.02/share. Please see our disclosures on other charges.
Please read important legal disclosures that apply to your relationship with Passfolio.
Passfolio is a San Francisco fintech company democratizing investment opportunities by creating a unified, global, and borderless investment market starting with the United States Stock Market.
Securities less than $5 cost $0.02/share. Please see our disclosures on other charges.
Please see the terms of our referral program.
Please see our fractional shares disclosure.
Please read important legal disclosures that apply to your relationship with Passfolio.
Investing involves risk, including possible loss of principal.
Securities and cryptocurrencies are very different types of assets.
Cryptocurrencies are not securities.
Purchasing cryptocurrencies comes with a number of risks. Please read Passfolio Financial Cryptocurrency Risk Disclosure.
Currency and cryptocurrency exchange services provided by Passfolio Financial LLC (“Passfolio Crypto”), a US Money Services Business registered with FinCEN. Passfolio Financial LLC is not a broker dealer. Cryptocurrencies are not protected by either FDIC or SIPC. Securities products and services offered to self-directed investors through Passfolio Securities LLC Member FINRA / SIPC. Passfolio Securities, LLC does not provide cryptocurrency-related services. Passfolio Securities LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
Passfolio is the brand name of Panchain, Inc. Passfolio Securities LLC and Passfolio Financial LLC are fully-owned subsidiaries of Panchain, Inc.
To purchase securities using cryptocurrencies, you must first convert it into U.S. Dollars using Passfolio Financial LLC. You must then move the U.S. Dollar proceeds to your brokerage account at Passfolio Securities LLC where you can use it to buy securities.
Online trading has inherent risk due to system response, execution price, speed, liquidity, market data and access times that may vary due to market conditions, system performance, market volatility, size and type of order and other factors. An investor should understand these and additional risks before trading.
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According to CVM's Legal Opinion No. 33, dated September 30, 2005, Passfolio contracted RB Capital Investimentos Distribuidora de Títulos e Valores Mobiliários Ltda. ("RB Investimentos"), a Brazilian securities distributor duly authorized by the Central Bank of Brazil and the CVM, through which RB Investimentos makes Passfolio's services available to investors resident, domiciled or incorporated in the Federative Republic of Brazil. The services provided by RB Investimentos should not be understood as an offering of securities directed to such investors. Although RB Investimentos has been hired to provide Passfolio's services, Passfolio offers its services exclusively in the United States and under the rules and regulations applicable in that country. As these services are investments made directly in the United States through Passfolio, they are not registered with or subject to the supervision of the CVM or any other Brazilian regulatory agency, so the investor must have knowledge of the language and local regulation. Investors resident, domiciled or incorporated in the Federative Republic of Brazil who have become or will become clients of Passfolio through RB Investimentos may contact the following e-mail addresses: suporte@passfolio.us / contato@rbinvestimentos.com
Investors should consider the investment objectives, risks, and charges and expenses of an Exchange Traded Fund ("ETF") carefully before investing. Before investing in any ETF, you should consider its investment objective, risks, charges and expenses. Contact us at support@passfolio.us for a prospectus containing this information. Read it carefully. ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses. ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund. Investment returns will fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost. ETFs are subject to risks similar to those of stocks. Some specialized exchange-traded funds can be subject to additional market risks. Leveraged and inverse exchange-traded products are not designed for buy and hold investors or investors who do not intend to manage their investment on a daily basis. These products are for sophisticated investors who understand their risks (including the effect of daily compounding of leveraged investment results), and who intend to actively monitor and manage their investments on a daily basis.
Be sure to consider your own financial situation, perform thorough research, and consult with a qualified tax professional before making any investment decisions concerning REITs. Investments in REITs and other real estate securities are subject to similar risks as direct investments in real estate. The real estate industry is particularly sensitive to economic downturns.
Where an investment is denominated in a currency other than the investor’s currency, changes in rates of exchange may have an adverse effect on the value, price of, or income derived from the investment.
Securities products are: Not FDIC insured · Not bank guaranteed · May lose value
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FINRA BrokerCheck reports for Passfolio Securities LLC are available at https://www.finra.org/brokercheck.
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Passfolio Securities, LLC
Member FINRA/SIPC
V.09 11/24/2020
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