5 Game-Changing Financial IT Startups
Motif Investing - Invest in a concept (or motif) with one click, develop ideas, and share investing strategies in a uniquely social way. It's basket trading at its finest.
In his presentation at Finovate, CEO and co-founder Hardeep Walia says Motif is "the first-of-its-kind crowdsourcing of a financial product that uses Motif's innovative social technology. It enables investors to take concepts and ideas and in minutes create a motif, a collection of up to 30 securities that trades real time for only $9.95."
On the website, users can browse motifs like "clean water," "biotech breakthroughs," "home improvement," and thousands more designed by staff and users, each setting exposure to various stocks that make up the motif. Users can buy into the concept for any amount with the $9.95 fee while controlling their own exposure to certain firms that built the motif. For example, buying a biotech motif and increasing exposure to cancer stocks and ETFs and reducing exposure to infections disease.
"How do you invest in mobile internet?" says Walia in an interview. "You couldn't before without buying into 30-40 stocks, and the cost of trades can really add up. I started Motif as an online brokerage so that people don't have to buy individual stocks, it's expensive, we want users to invest in ideas.
Motif currently offers individual and joint brokerage accounts as well as no-fee IRAs including Traditional IRA, Roth IRA and Rollover IRA. The ability to short themes within a motif is coming soon.
[To hear about Mobile Devices — Technologies and Trends, attend the session at Interop on October 2.]