Gainy partners with fintech firm DriveWealth for autopilot trading
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Gainy, a retail trading platform based in San Francisco, has announced a partnership deal with DriveWealth. Gainy is a platform that is focused on Gen Z and millennial investors. Gainy will give its customers access to autopilot trading through a new tool known as Thematic Trading Fractionals (TTFs) based on the DriveWealth API.
Gainy partners with DriveWealth
The partnership deal will meet the needs of young investors, given that 90% of Gen Z investors were more interested in investing and saving and not spending. These investors have a total disposable income of around $360 billion and recognize the benefits of businesses addressing social and environmental issues.
With the TTF platform, active investors can maintain their control and flexibility over the financial markets. These investors do not have to spend much time and effort conducting in-depth stock research and portfolio optimization.
Investors can access more than 70 model portfolios across multiple industries, investment platforms, and market conditions through the TTF platform. These investors use financial data and recommendation tools offered by Gainy.
The CFA and the Chief Investment Officer at Gainy, Mikhail Stukalo, commented on this development, saying that the company’s goal was to ease the investment process and make it possible for investors to focus on long-term portfolio management and themes and not just a few companies.
Through Gainy, users can access customized investment advice via the Gainy Score, aligning investors with portfolios and stocks that meet their investment goals and interests. Gainy will create and optimize TTFs for their clients to ensure that portfolios are up-to-date, meet companies’ needs, and match performance.
The CEO of Gainy, Boris Dus, noted that the young clients were more focused on growing their investment and not trading. Moreover, these clients were more interested in broader offerings than single stock options. Therefore, a partnership between Gainy and DriveWealth will filter these offerings.
Retail traders record losses in 2022
2022 was one of the toughest years for retail traders. These traders lost around $350 billion during the year, with the average portfolio down by 30%. The plunge in the shares of leading tech giants also lowered the risk appetite and dropped earnings.
The declining value in the stock markets was seen as detrimental to the growing popularity of the contracts for difference (CFDs) market. The plunge in stock prices of big tech companies was linked to the loss of user interest in equity CFD trading.
However, it appears the market is headed for a solid recovery this year. Most of the stock market is up this year amid a major rebound from last year’s lows. The TTFs by Gainy could become a viable alternative for established financial instruments.
Despite the increased volatility, Gainy is interested in pursuing growth in the retail market. The company has tabled a proposal for TTFs, which will be an alternative to ETFs. The TTF tool is currently in private beta, and it targets early users and provides internal testing.
