Midas is a neobroker that enables users to invest in Turkish and American stocks, cryptocurrencies, and mutual funds through a mobile application with zero commission on transactions. By providing a streamlined platform for trading with low fees and secure account management, Midas addresses the need for accessible and cost-effective investment options in Turkey's financial market.
Funding
$57.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
PVFounders
Product
Problem
Access to diverse investment options in Turkey is often limited by high fees, complex platforms, and lack of access to international markets. Many potential investors are excluded from participating in financial markets due to these barriers.
Solution
Midas provides a mobile-first investment platform that allows Turkish users to invest in Turkish and U.S. stocks, cryptocurrencies, and mutual funds. The platform offers commission-free trading for Turkish stocks and low-fee access to U.S. markets, lowering the barrier to entry for new investors. Midas provides a streamlined user experience and secure account management, enabling users to manage their investments in a single application. By offering access to both local and international investment opportunities, Midas aims to democratize investing for the Turkish market.
Target Audience
Midas targets Turkish residents seeking to invest in a variety of asset classes, including stocks, cryptocurrencies, and mutual funds, with a focus on new and underserved investors.
Features
- Mobile application for iOS and Android
- Access to Borsa Istanbul (Turkish stocks)
- Access to U.S. stock exchanges
- Cryptocurrency trading
- Mutual fund investments
- Commission-free trading for Turkish stocks
- Low, transparent fees for U.S. stock trades (1.5 USD per transaction)
- Real-time market data and portfolio tracking
- Secure account management with MKK (Merkezi Kayıt Kuruluşu) guarantee for Turkish investments
- SIPC insurance up to $500,000 for U.S. investments
- 24/7 customer support via phone, live chat, and social media