What is Voleo?
Voleo is an app that helps people form digital investment clubs. Together, users can trade securities with people they trust, and make more informed investment decisions. Voleo is currently available on iOS and Android.
Why does Voleo need my personal information?
When you sign up with Voleo to trade, you are creating a brokerage account, and therefore, like any other brokerage or financial institution, Voleo is required to collect tax related information in order to allow you to start trading. This information includes Social Security Number (SSN), full name, date of birth, Government ID (Driver’s license or passport), and bank information.
Is my personal information safe with Voleo?
Your security is our top priority, and we follow industry best practices to keep your information safe with cutting-edge technology over secure servers and 256-bit encryption.
Your money and securities will not touch Voleo as an introducing broker, and instead will be held at clearing partner Apex Clearing, who also holds customer assets for many of the leading brokerage and trading apps.
Voleo is an approved member of the Financial Industry Regulatory Authority (FINRA), the Securities Economic Commission, and the Securities Investor Protection Corporation (SIPC) which protects up to $500,000 of your securities (not including trading and market losses).
To verify our status as a registered broker, you can always check FINRA’s BrokerCheck wesbite.
How much does it cost to use Voleo?
Voleo is free to download and to use. There are no management fees or hidden charges to manage your portfolios. Voleo only charges a small trade commission fee of $12, which is split between members of the team. The more members you have on your team, the more you save on commission fees.
How and when can I withdraw money?*
You can withdraw money from Voleo at any time.
Can I create a test account before trying Voleo?*
Yes, you can try out our simulated platform by downloading Voleo’s Simutrader App.
About Investment Clubs
What is an Investment Club and why should I start one?
An investment club is a group of people who trade investments together. People love investment clubs because they are social, educational, and fun!
Investment clubs are a great way for new investors to learn how to invest because of their social nature of trade proposals. Investment clubs are a popular and accessible way for newbies to get involved with the stock market.
Many experienced traders swear by investment clubs because of the combined research and insight that comes from group trading. Starting an investment club with friends can increase your exposure to industries and investments that you may not have considered before, and reduce the stress of making a big trade.
How are Voleo’s Investment Clubs structured?*
Voleo Investment clubs are structured as partnerships. When you form a club, we provide personalized partnership agreements, which is always available for your review, and you have the ability to change these parameters as a club.
Each club has a club manager who acts as the main point of contact between Voleo and investment clubs. This role can be given to another club member at any time.
Who can I invite to my Investment Club?
Anyone over 18 living in the USA can participate in an investment club.
How do I report taxes as an investment club?
Reporting capital gains is easy with Voleo. We supply each investment club with a personalized tax ID (called an EIN) when your club is formed. Each tax season, we will provide your club and each member with the required tax information, without having to maintain any spreadsheets.
What types of investments can I trade on Voleo?
Investors can currently trade stocks and ETFs on Voleo. We plan to introduce bonds, currencies, commodities, and options margin trading in the future.
How do members fund their investment club?
To invest together, each member will have to put in an equal contribution into their club’s portfolio. This initial contribution allows clubs to equally split the ownership of the club among the founding members. For a three-member team, we recommend having a portfolio of at least $1500, which equals an initial contribution of $500 per member.
As new members are invited and accepted to an investment club, their ownership is calculated as a percentage of the club’s current market value. See Mark to Market for more information on funding.
How do I make a trade proposal?
Simply press the (+) icon, select the security and club, and create a proposal by dragging out the limit price and allocation they wish to propose – no need to think about the quantity you can buy at the chosen limit price!
On the review screen, you have the option of adding an explanation to your partners to start the discussion and introduce the merits of the trade. Trades execute automatically on hitting the condition for majority agreed in your partnership agreement.
I just tried to make a trade proposal. Why didn’t it go through?
If you attempt to buy a security but can’t, it might be because your club has insufficient funds (either you are fully invested or existing orders are outstanding), or because you are trying to buy an ineligible security.
If neither of these apply, contact us for further information.