Ditto Trade, First Brokerage to Leverage the Power of Social Networking
Posted on October 20, 2010 at 00:01 AM EDT
Proprietary Technology Allows Investors to Attach to the Trades of Others
FB Financial Group announced the launch today of Ditto Trade, Inc., a licensed stock brokerage whose mission is to reinvent trading for the consumer by bringing unprecedented levels of transparency and user control.
Now, for the first time, individuals can be a part of the actual trades of any friend or family member who has a knack for investing. In addition, customers can also be part of the trades of a select group of veteran traders known as “Master Traders”.
Ditto Trade’s game-changing technology is so advanced that the customer will not only get his or her order filled at the same time as the primary trader, but will receive the exact same price on purchases and sales. A customizable set of parameters allows the user to disconnect and take control at any time, even in the middle of a trade.
“In this era of high frequency trading, where computers automatically make split-second trades for big brokerage houses, the individual investor can’t keep pace,” said Joseph Fox, Ditto Trade’s Chief Executive Officer. “Ditto Trade is putting some of that instantaneous trade power into the hands of everyday users, without them having to be in front of a computer all day.”
Ditto Trade also offers commissions of $4.95 per trade and ultra competitive margin rates.
Ditto Trade has combined this comprehensive investment platform with its own social network known as Ditto DNA. Here, customers have the ability to ask questions, discuss strategy and share trades with “Master Traders” and other members of the community.
Master Traders are independent full time traders, each with over ten years of experience actively trading the markets. There is a significant screening process before an individual can become a Master Trader. Ditto Trade does not charge Master Traders for the use of its software, nor do Master Traders receive any compensation from Ditto Trade.
The Master Trader Program allows individuals to participate in the actual trades of experienced traders as much or as little as they wish. Once the trading day is through, the Master Trader will post his or her commentary and analysis about the day’s trades and interact with subscribers.
“We’re leading the way in the growing trend of socialized investing. Our Ditto DNA platform functions much like a Facebook for investing,” Fox added.
Users will be able to link their Ditto DNA account to their Facebook, Twitter, LinkedIn and other social networking accounts, making it easy to share their posts and invite their friends to become Ditto DNA members.
“By combining our innovative technology with a robust social network, we are going to forever change trading as we know it,” says Fox.
The software, registration in and use of Ditto DNA is free to everyone, even those who have brokerage accounts with other firms.
The management of Ditto Trade founded Web Street, one of the pioneers in online investing, in the mid-’90s.
Web Street was the first online broker to offer free trades, streaming stock quotes, real-time balances, positions and buying power. Web Street was rated “#1 Online Broker” by SmartMoney Magazine and received top ratings from Barron’s Magazine. Web Street became a public company in 1999 and merged with E*Trade in 2001.
Ditto Trade is a member of FINRA and SIPC and is licensed in all 50 states.
About FB Financial Group, Inc.
FB Financial Group, Inc. is the parent Company of Ditto Trade, Inc. and operates DittoDNA.com. Its mission is to level the playing field for the retail trader in today’s complex market environment. This is accomplished through innovative technology and the unique utilization of social networking.
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