Toss Securities lets investors buy small portions of US stocks

A promotional image of Toss Securities' real-time overseas stock trading service made available on Tuesday. Courtesy of Toss Securities

By Lee Min-hyung

Toss Securities has introduced its real-time mobile stock trading service, enabling investors to buy U.S. stocks and exchange-traded funds (ETFs) in decimal points, the company said Tuesday.

According to the securities affiliate of Viva Republica, one of the nation's most successful fintech startups, the new trading service has become available for investors who want to invest in U.S. stocks. One noteworthy feature of the platform is that the stocks are traded in decimal points in real time, so investors can buy U.S. shares merely with a minimum capital of 1,000 won ($0.81).

Toss Securities users can invest in a total of 3,070 U.S.-listed stocks and ETFs during the opening hours of the market there, according to the company. This is the largest among local services available for trading in decimal points.

The company launched the service amid a stock investment boom here after the outbreak of the COVID-19 pandemic in early 2020. With the pandemic shock resulting in a drastic cut of key interest rates here and abroad, retail investors have in recent years engaged in a buying spree of stocks and real estate here.

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With more people eyeing investments in U.S. stocks, which are widely considered to be more stable than local ones, major fintech companies have identified the area as a next revenue source.

Last month, Kakaopay Securities, a securities arm of Kakao, launched a similar service for its users, allowing them to make overseas stock transaction in decimal points.

But as Kakaopay Securities customers can only invest in a total of 24 overseas stocks in decimal points for the time being, Toss Securities' new trading service still holds a competitive edge.

Most brokerage houses here ― such as Korea Investment & Securities, Shinhan Investment and Samsung Securities ― have also been operating similar services, but trading in decimal points cannot be made in real time via their platforms.

“Toss Securities is the only company that operates the decimal-point overseas stock trading service most quickly and broadly here,” an official from the company said.