App-only bank Pepper offers fractional share trading on S&P 100 stocks

App-only bank Pepper offers fractional share trading on S&P 100 stocks

Pepper, Bank Leumi's mobile-only challenger bank, is to offer customers the ability to buy fractional shares in US corporations traded on the S&P 100 index.

To participate, Pepper Invest customers have to open a US dollar investment account, dedicated solely to investment in foreign stocks.

Designed for those with no prior experience or knowledge of the capital markets, Pepper Invest provides customers with comprehensive information about all the stocks available on the app, analysis of past stock performances, analysts’ recommendations, news, hot updates, and a glossary of capital market terms.

Users pay a uniform quarterly management fee of 0.2% of the portfolio’s value, regardless of the amount invested or number of transactions made during each quarter.

Michal Kissos Hertzog, CEO, Pepper comments: “Pepper Invest represents a veritable revolution, in which technology not only changes the way we consume financial services, but also serves as a tool for financial education and empowerment of the younger generation.”

Looking forward, he says Pepper Invest is expected to boost its share offering in addition to enable trading in leading US ETFs.

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