24hoursworld

Uruguayans will be able to invest in US stocks from US$10

Uruguayans will be able to invest in US stocks from US$10

People who use Prex in Uruguay will be able to invest in Actions of companies of USA, from minimum 10 dollars and through an account associated with a prepaid card.

This will be possible as part of the alliance announced by the Uruguayan investment advisory firm, BECA Advisors, together with the Prex platform and prepaid card and the American broker DriveWealth LLC.

Operations can be carried out through the “Investments” module of the Prex application only if you have a prepaid card; and from there you can open a personal account at DriveWealth in the United States, which will automatically enable Uruguayans to buy, sell and custody positions in securities of the American stock market and even in its main stock markets.

“With a simple and intuitive process, without money transfer costs and the option to acquire fractional shares, individuals will be able to enter the world of investments with amounts as low as 400 pesos or 10 dollars,” indicated the BECA Advisors statement. , in which he announced the historic alliance and new alternatives for local retail investors.

In the Prex application, BECA Advisors will take care of the educational content in the “Training Investors” section, sharing market news and comments to help users make investment decisions according to their profile and needs.

Likewise, the platform will be available exclusively for balances less than $15,000, while BECA offers advice for larger investments.

The strategic alliance with Prex and DriveWealth marks an important milestone for BECA Advisors in its mission to democratize financial investments, making them accessible safely and backed by a leading custodian in the US financial system, the firm highlighted. Furthermore, he stressed the importance of financial education, an aspect that has always been a priority.

Ancap and an option for small savers

For its part, the National Administration of Fuel, Alcohol and Portland (Ancap) analyzes together with Banco República Oriental del Uruguay (BROU) the alternative of creating a financial instrument that allows, on the one hand, to gather the necessary financing to carry out the megaprojects for the energy transition; and, on the other, the participation of small savers in these initiatives related to hydrogen and oil.

Although it is still not clear or decided what would be the best tool in this regard, the president of the state fuel company, Alejandro Stipanicic, He announced that he is thinking of a trust or an investment fund—just as he did UTE at the end of 2023.

“We are working on the implementation, then we will decide which legal form is best to adopt,” said the leader in dialogue with Diamante FM.

However, the president of Ancap clarified that what is defined is that the financial instrument—whatever it may be—will be open to the participation of small savers, companies and large investors such as AFAP.

“We want to implement it so that everyone Uruguayan savings can be channeled there,” explained Stipanicic and explained that this seeks to provide greater guarantees and security.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts