Despite the impact of the recent pandemic, the financial markets have witnessed growth in private sector wealth and trading activities due to government spending, low–interest rate, growing retail participation, the democratization of investing and information, and the adoption of digital assets.
FDCTech, Inc., a fully integrated financial technology company with a full suite of digital financial services solutions, announced that it expects to launch the Condor Stocks & ETFs App (“Condor App”) for Stocks, ETFs, Commodities, Crypto, and other high-growth financial securities. The Company expects to launch the app by the end of the fourth quarter for fiscal 2021.
The Condor App will be available to download at Google Play and the App Store. In addition, a web version will be available for end-users. The Company has completed the techno-feasibility of the Condor App around the lessons learned from the recent launch of similar technologies through special purpose acquisition companies (SPAC) or upcoming initial public offerings (IPOs). The Company expects to build the next-generation trading technology, multi-jurisdiction market access, transparent revenue model, and disclosures of any conflicts1 between end-users (“Investors”), the Company, and its liquidity provider. As a result, the Company expects to deliver a cost-effective and seamless experience, distinct from existing offerings.
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Here are some highlights of the Condor Stocks and ETFs platform:
- Server Side & Back Office Enhancements to Support up to 12,000 symbols with enhanced symbol management and symbol icon display,
- End-user creation of watch lists for up to 100 trading symbols at a time,
- Integration with third-party software for the broker side revenue and risk management — such ask Skale CRM,
- Simplified onboarding by app or web with easy KYC check,
- Native iOS app, and simplified progressive web app (PWA) in Google Play and App Store,
- Supports payment for order flow (PFOF)1Â to customized revenue model per broker requirement, and
- Advanced trading features such as social and copy trading, and much more.
1Among other things, the Company urges brokers who license its technology to disclose the revenue model to its customers when promoting a ‘no commission model‘ and comply with the best execution policy. The Company encourages brokers to adequately disclose risks associated with margin and options trading and carefully evaluate customers who do not have the adequate trading experience to trade exotic products or high-risk assets. In most instances, the Company recommends at least basic trading and investing education material to potential traders and use of demo account before opening a real account.
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The Company recently announced the acquisition of Genesis Financial, Inc., giving it immediate access to offer investment products through 114 licensed financial advisors to the Australian wealth management industry, valued at more than $2.1 trillion. The annual fees generated by the Australian wealth management industry are close to $3.9 billion.
Condor FX Pro Trading platform is available for demo on Company’s website. We expect the Condor Stocks and ETFs App with a full release at the end of the fourth quarter of fiscal 2021. Please note that trading in speculative financial securities is not suitable for everyone. Investors must complete a risk profile assessment and seek the advice of a financial advisor whenever possible and before opening a live account with a broker.
