When you think of the stock market, “charitable” may not be the first word that comes to mind. However, for stock guru and philanthropist Tony Weeresinghe, Wall Street seemed like the perfect place to set out to make a difference.
Weeresinghe has an impressive resume. He’s served as a technology pioneer in the stock market for over two decades, building some of the world’s most sophisticated trading systems, including the London Stock Exchange. While working in the stock market, he became increasingly aware of the wealth disparity around the globe.
“Looking at the dispersion of wealth between the haves and have-nots, 1 percent of the population owns 50 percent of the wealth,” Weeresinghe explains. “I wanted to help democratize wealth and empower regular, everyday people to get involved in the stock market.”
BRINGING WALL STREET TO MAIN STREET
Leveraging his substantial knowledge of capital markets, Weeresinghe launched Ustocktrade, the world’s first consumer-friendly stock trading network with a purpose. The easy-to-use site provides professional-level trading tools to the masses, eliminating the cost and complexity of existing trading platforms.
The network is easy and affordable, charging only $1 per month for membership and a $1 fee per trade. Additionally, there's no stockbroker, so users don’t need to lose part of their profits to a middleman. The site’s training simulator, Ustocktrain, allows users to use virtual cash to practice trading before joining the big leagues with real cash.
“The fundamental mission of Ustocktrade is to give people on Main Street the same opportunity as people on Wall Street by enabling users to make well-informed, educated decisions and getting the best price for their stocks,” says Weeresinghe.
The mission of the company is twofold: empower people to become self-sufficient in trading, while providing a world-class education to children in developing countries.
Ustocktrade was created to fund The Cainan Foundation. Its mission is to educate the world’s most disadvantaged children. Weeresinghe and his wife co-founded the charity to build self-sustaining boarding schools with modern facilities, top instructors, and essential services (like nutrition and healthcare).
“We didn’t start the foundation just to build a school for the sake of giving impoverished children a place to go to school, but also give them an education that we would want our own children to have here in the U.S.,” he says.
“We also didn’t just want to ask for donations to do this. We wanted to fund it in a way that helps both sides. So by providing people a simple, low-cost stock-trading platform, they are in-turn helping disadvantaged children receive a first-world education. It’s really a win-win,” he adds.
Ustocktrade’s beta program ran for approximately a month with great success, and launched nationally today. To celebrate its official launch, Ustocktrade will waive the $1 trading fee for the month of January.
To learn more about Ustocktrade and begin trading with a purpose, visit ustocktrade.com.
Cover photo and thumbnail image via Shutterstock.