Switzerland’s youngest online bank offers clients a new product: trading in fractional shares, which makes investments in large-denomination equities available for everyone.
Flowbank has launched the FlowOne trading platform, a tool available to investors and traders worldwide. It gives access to a variety of asset classes via a multi-currency account, according to a statement released on Wednesday.
With the launch, Switzerland’s youngest online bank has taken up operations. Its clients can trade in stocks, bonds, currencies, commodities, ETFs, futures, warrants in cash or CFDs. Investment funds and structured products will follow soon.
Expensive Shares for Everyone
The new bank will follow up the launch of the online platform with other services in the coming weeks, including a classic bank account solution and a credit card.
Also, the bank will introduce fractional shares trading, which it said was a first for Switzerland. Investors can buy fractions of certain shares, which should contribute to a democratization of online trading, the bank said. The shares of Lindt and Spruengli, the Swiss chocolate maker, are worth more than 80,000 Swiss francs ($87,700) apiece, making them unaffordable for all but the wealthiest of investors.
Offices in Geneva
Flowbank has 90 specialists working for the company, having opened its offices in Geneva in August. The bank is licensed by regulator Finma and a member of esisuisse, the Swiss deposit insurance organization.
