All Of Us Wants To Pay Customers For Investing On Its Platform
The platform is riding on the surge of new trading platforms that have sprung as of late. For example, Robinhood seeks to make trading accessible to those not typically involved in trading stocks by offering zero-commission trading services.
All of Us wants to introduce a new model of generating revenue on the platform. This would mean getting paid to trade through All of Us. The amount paid is determined through a 50-basis-point fee.
"If you did a very large trade with us, you get several dollars back. So you'd literally get money into your account," Alan Grujic, founder of All of Us said.
The goal is to recruit individuals with assets on the platform that have an average value of $50,000. This would mean targeting the larger net worth customers from apps like Robinhood while also targeting the lower net worth customers from firms like TD Ameritrade and E-Trade.
The app was recently demoed at a fin-tech conference in New York. Additionally, the platform hopes to reach $2 billion in assets within its first year from launching.