Hong Kong-based social trading startup 8 Securities has launched a mobile-only robo-adisory service targeting the millennial generation that constructs portfolios with exchange traded funds (ETFs) listed on the Tokyo Stock Exchange (TSE).
Chloe monitors the investment on a daily basis and uses machine learning techniques to better predict customers’ goals and how much they need to save.
8 Securities CEO and Co-founder, Mikaal Abdulla states: “Millennials in Japan want simple, mobile and low-cost solutions for their saving and investment needs. They need an easy and affordable entry point to navigate the world of investment. They just don’t teach these concepts in school.”
Customers can start investing with as little as JPY 10,000. The service is free until July 2017 and then levies a charge of 0.88% of the portfolio size thereafter.