TD Ameritrade debuts barcode trading mobile app

TD Ameritrade debuts barcode trading mobile app

TD Ameritrade has introduced a mobile app that can be used by customers to scan any barcode to reveal the publicly traded company that produces the product.

The new feature - dubbed Snapstock - is embedded in the latest version of TD Ameritrade Mobile, available for both Android and Apple iPhones.

The company is borrowing inspiration from the former chairman of Remington electric razors, Victor Kiam, and his famous catchphrase "I liked the shaver so much, I bought the company".

Nicole Sherrod, managing director of TD Ameritrade's Trader Group says Snapstock empowers consumers to use the information they already know (this is a great product) to consider investment opportunities in the company that produces the product.

"Investors tend to use our mobile trading platforms more for opening transactions than for closing ones," she says. "Because of this fact, we sought to integrate innovative new features which help support our investors' desire to always be on the lookout for investment opportunities no matter where they are - the drugstore, the mall, or the market."

The app scans a product barcode through the camera lens and returns the quote detail for the ticker symbol if the company is publicly traded. Users can either place a trade on the stock or add it to a watch list. Clients can also choose to view news, Level II, charts or option chains for the security.

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