Your cash resides with our regulated partner – ChoiceTrade’s custodian clearing firm, Velox. When you purchase a stock, the clearing firm which is also a US regulated entity, automatically goes through a “settlement & clearing” process where the person who sold you the shares receives the relevant cash amount, and you receive electronic shares registered & held in your name. The clearing firm automatically manages this process in the background.

Historically the S&P500 index has returned 8% per annum. But this assumes you will invest all your funds in an ETF that tracks the S&P500. In any given year a particular stock can do better or worse than the overall index. It entirely depends on the stocks and funds that you decide to purchase. Stock investing involves risk and companies you invest in can have their shares increase in value or decrease in value. You may lose money by investing in companies that are not performing well, and even in cases where companies perform well their shares may fall in value. It’s important to research companies you invest in before you buy their shares.

*Not investment advice or recommendation to buy or sell S&P500.

You can earn passive income by asking your virtual assistant about passive income. Your virtual assistant will help you sort through the universe of stocks funds that pay dividends so you can find the exposure you are looking for.

At Pasiv we execute your order by default using a market order. That means we send an order to the affiliate broker to buy the stock you want to purchase at the 'Ask' price. In the US, most stocks have almost a $0.01 spread between the 'Bid' and the 'Ask'. So the price you get is usually in the middle between the two. There is no spread that Pasiv charges, or earns. We simply route your order to the best available price in the market at the time you place the order.

To deposit funds in your account you will need to make a wire transfer from your bank’s online banking facility. We’ll provide you the beneficiary details in the app.

To make a deposit in your account we will instruct you to send your funds to ChoiceTrade’s regulated custodian – Velox Clearing. The bank receiving your funds is BMO Harris (Bank of Montreal) – one of America’s oldest and most reputed banks.

No. Cash that you send in AED or your origin currency will be converted by your bank at your bank’s exchange rate before being sent to the US. Your bank may also charge you a fee for the transfer.

Simply navigate to the account screen in the app, click withdraw. Enter the amount you wish to withdraw, enter your bank details and upload a statement so we know it’s indeed your account. It takes at most 2-3 working days for the withdrawal to appear in your local bank account.

Pasiv does not deduct, and cannot deduct any money from your bank account. We are not licensed to control any of your bank accounts. You will need to initiate a wire transfer on your own and solely you retain control of your bank account at all time.

It is recommended to pay all the charges from your account, so that the US broker will credit your account with the full amount of your wire transfer upon receipt. If you decide to share the charges, the receiving bank in the USA can decide to charge you a higher amount than your bank locally would have charged.

There is no fee to deposit funds in your account. There is a $60 wire fee to send you your money bank via bank transfer when you withdraw any funds.