Social Investing App AleFi Announces to Launch in US

Fazzaco learned that AleFi, a social investing app, has announced its launch in the US, with the aim to better serve retail traders and provide social investing.

According to the company, the number of uneducated retail investors is increasing, and they are losing money on the stock market by gambling instead of investing. It says 90% of new retail investors lose 90% of their money in 90 days.

​AleFi claims that it provides users with a way to follow trusted investors and view their portfolio. The service charges clients $ 5 per month to gain insight into the trading portfolio of successful investors. The fee is split between the company and the investor in 20/80.

AleFi also promises faster and more reliable API technology for real-time data retrieval. It claims to be independent of third-party infrastructures such as Plaid and Alpaca.

As an app that promises social engagement, it’s also “fully integrated” with platforms that are the main drivers of retail investment, such as Reddit, Twitter, and TikTok.