The software solution provider that targets brokers and financial institutions, Devexperts has partnered with DriveWealth to allow users to trade or hold small fractions of shares, otherwise known as fractional share trading. Devexperts will access the securities of DriveWealth to allow users to invest as little as a dollar.
Commenting on the partnership, Michael Sprachman, the Director of Exchange Traded Solutions at Devexperts, said: "As trading continues to become more global, providing the US market with access to brokers in all parts of the world remains a priority to Devexperts."
Focusing on Fractional Shares
"DriveWealth, with its focus on micro shares and fractional liquidity, is an ideal partner with our goal of providing brokers with the necessary technology for them to transform the retail trading experience and ensure access to investing services for users of all ages and levels of financial expertise," Sprachman added.
Founded in 2002, Devexperts reportedly plans to integrate DriveWealth to enable users to trade its listed securities on DXtrade XT. It is one of the trading platforms the company offers besides DXtrade CFD for over-the-counter trading, DXmatch for exchange solutions, and DxFeed for capturing and sharing market data.
The software solutions provider has praised the addition of DriveWealth as an opportunity to enable smart order routing and to bring more value to its uses in the US, LATAM, EMEA, and the APAC regions. According to the information on its website, Devexperts has a presence in several locations globally, including Germany, Singapore, Ireland, and Lithuania.
The concept of fractional share trading is not unique to Devexperts but has become popular among traders. Now, most brokers are offering fractional share trading to attract young investors and eliminate barriers to investing in diversified portfolios. For instance, the automated global electronic broker, Interactive Brokers, has reportedly been offering fractional shares since 2019.
Devexperts Expands Services
Meanwhile, Finance Magnates reported last month that Devexperts had launched a mobile application for its DXtrade platform, dubbed DXtrade XT Mobile. The company aims to make trading accessible to more users and make it user-friendly. The app provides a range of financial instruments, including stocks, options, bonds, and futures.
Devexperts' DXtrade XT solution has reported a growing list of users, including major retail brokers. The New Zealand-based BlackBull Markets recently rolled out a new FX and CFD trading platform that uses DXtrade XT. Similarly, the solution was integrated by the multi-asset broker, Brokeree Solutions, in May.
