BrokAIr Reviews

Passfolio Review

"Passfolio is revolutionizing the online brokerage world with its innovative commission-free, zero-minimum investment platform - but can it really be trusted?"

Did you like this broker?

Overview of Passfolio

Passfolio is an online brokerage firm founded in 2018 and based in the United States. It is a member of the Financial Industry Regulatory Authority (FINRA) and is registered with the Securities and Exchange Commission (SEC). Passfolio's mission is to make investing in US markets simple, affordable and accessible to everyone.

Pros

Cons

Passfolio was founded by Nicolas Stommel and Richard Liu, two former hedge fund analysts. They sought to provide individuals with access to the same financial markets as institutions, but without the hefty fees attached. Since its launch, Passfolio has received positive reviews from both customers and industry experts. In 2019, Passfolio received a $20 million Series A funding round led by Andreessen Horowitz (a16z). With this funding, Passfolio has continued to expand its services to more countries and offer more features for its customers. Most recently, in December 2019, Passfolio announced that it had achieved unicorn status after its valuation exceeded $1 billion. This news made headlines as it marked a major milestone for the company.