Israel-based Pepper, Bank Leumi’s mobile-only bank, has launched a new investment app, Pepper Invest.

The app enables customers to buy fractional shares in top US companies with a minimum investment of NIS50. Customers can invest in firms such as Facebook, Apple, Amazon, Ford, Starbucks, and Coca-Cola.

Utilising user-friendly language and interface, Pepper Invest also provides customers with trading insights. Furthermore, this includes comprehensive information regarding all of the stocks available, analysis of past stock performances, and also analysts’ recommendations.

Pepper Invest has a simple fees model; a uniform quarterly management fee of 0.2% of the portfolio’s value (0.08% annually). This is regardless of the amount invested or number of transactions made by the customer each quarter.

The model gives customers full transparency and does not charge the customary trading fees and commissions such as stock trading fees (per share), minimum fees, custodial fees or other hidden fees.

Michal Kissos Hertzog, CEO, Pepper, said: “Pepper Invest offers a unique trading experience, allowing customers to invest according to their financial abilities, without needing to purchase an entire stock. Pepper Invest represents a veritable revolution, in which technology not only changes the way we consume financial services, but also serves as a tool for financial education and empowerment of the younger generation.”

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The Pepper Invest app process

After a quick registration process, Pepper Invest users will have their US dollar investment account opened. Any buying and selling transactions will be conducted solely through the USD account.

However, if there are insufficient funds to pay for a certain transaction, the customer’s Pepper current account charges the missing amount. Also, NIS converts to USD at the time of giving the buy order.

In addition, market orders are available at any time. The transactions complete close to the end of the day on the relevant stock exchange.

pepper invest app