Flahmingo

Flahmingo, based in Calgary, Canada, provides commission-free fractional investing, allowing users to invest in U.S. listed securities with no commission fees. Users can hold USD in a USD cash account to avoid FX fees and create up to 10 portfolios, each containing up to 100 stocks or ETFs. Investments can be made with as little as $1 USD into more than 5,000 securities. Flahmingo offers a video-based educational hub called Flahmingo Central to help users learn about investing. The company covers regulatory trading fees charged by the SEC and FINRA and offers free bank transfers via Interac e-Transfers for deposits and EFTs for withdrawals. Flahmingo charges a 2.50% currency conversion fee when converting from CAD to USD and vice versa and provides electronic statements and trade confirmations for free. Paper statements and trade confirmations are available for $150. The company does not charge account opening, closing, inactive account, or account maintenance fees. Investments are not insured by the Canadian Investor Protection Fund, but the company uses a third-party broker-dealer in the United States that is a member of the Securities Investor Protection Corporation. Flahmingo also offers a referral program and a step-by-step complaint handling process, including escalation to the Ombudsman for Banking Services and Investments if necessary.