Trading stocks on Facebook will be possible as of this June.
Through the company Loyal3, based in San Francisco, trading stocks will be as easy as a trio of clicks on Facebook, for a flat monthly rate of $10, $25 or $50.
Consumers will be able to forego brokers and their associated red tape to buy stock directly from companies’ Facebook pages, Business Insider reported.
A letter from Loyal3 Chairman and Chief Executive Officer Barry Schneider on on the company’s website reads:
Studies by Bain and Co. and Opinion Research Corp. show that customers who are also owners are more loyal and valuable than ordinary customers. As a result, our clients are motivated to make it easy and affordable for their customers to buy stock online.
The brochure makes it all sound so lovely — you can “easily set-up automatic monthly investments and opt out at any time. You can sell some, or all of your stock anytime you want. Selling is done on a batch basis, once daily.”
To keep day traders at bay, a $2,500 monthly cap was established.
With catchy tag phrases such as “Own What You Love,” and “Ownership Changes Everything,” we’re so far liking this tasty punch and seeing how this could positively engage more citizens in the capitalism the US was built on.
However, that doesn’t make us any less curious — ahem, or skeptical — about what flubs may occur in the first round of buying high and selling low that will take place on the social network in June.
Readers, would you try trading stock on Facebook, or are you wary of it?
Image courtesy of Shutterstock.