You Can Now Buy On Margin On DriveWealth's Platform

DriveWealth, which offers dollar-based investing for U.S. equities and ETFs, announced Thursday a new feature that offers clients access to real-time margin.

Investors who chose to open a margin account with DriveWealth will benefit from greater enhanced risk controls compared to its brokerage peers. Specifically, the platform will calculate a customer's margin requirement at the beginning of the day and continuously update the requirements throughout a trading day as opposed to most brokerage firms calculate margin requirements just once per day.

DriveWealth stated that by continuously updating its customers on margin requirements and buying power it can protect them from downside volatility and limits purchasing power that would have otherwise justified a margin call.

Margin accounts is available to qualified individual investors and the interest rate is based on the fed funds rate plus 400 basis points.

"DriveWealth has enabled a new generation of investors through our intuitive, easy to use, investing app, which allows investors to build diversified portfolios using fractional shares. With the release of real-time margin, we are now giving investors who want to trade on leverage a way to increase control and decrease risk relative to traditional margin accounts," said Robert Cortright, Founder and CEO of DriveWealth.