Neobrokerage firm Pluto has launched its trading app in Denmark.
The company is similar to other firms like Robinhood or Freetrade in the UK, with a stockbroking product that has low or no account fees and no dealing fees. Currently the firm appears to only charge for FX conversions.
The company is regulated in Denmark and looks to be competing with ‘established’ providers like Saxo Bank. Currently the website is only in Danish.
In terms of products, Pluto currently only offers US equities trading, although the owners say that more products will be added down the line.
Like many other neobrokers, the firm is using Alpaca on the backend of its app to facilitate trading, settlement, and custodial services for US shares.
Pluto was launched by Joakim Bruchmann and Oscar Vingtoft. Bruchmann was a commodities trader at Goldman Sachs previously, whereas Vingtoft has more of a technical background in programming.