There are two main reasons for this: human factors👨💻 and liquidity💧 👨💻The human factor: despite the development of information technology, which has made life much easier for stock market participants, a significant volume of transactions anyway takes place with the participation of people - if only to make sure that computer models give meaningful recommendations, and not advise to conduct what -or a deal because of a glitch. And people, as you know, need to rest. 💧Liquidity also plays a role: the more counterparties there are in the market, the more chances you have to buy/sell an asset at fair value. Based on this, it makes sense to set limited trading hours and days: the main task of any trading platform is to bring the maximum number of counterparties in one place and at one time.
Currently, we do not onboard users who are not residents of the UK. However, we do plan to expand our borders and make Orca available in different countries🌏 Follow us on Twitter, Facebook and Instagram to stay up to date🏃♂️
Orca supports low-fee investing in 250+ stocks and ETFs traded on the London Stock Exchange. Orca makes investment easier. Be aware that your capital may be at risk while investing, especially in risky assets👌
Orca App Ltd is an appointed representative of RiskSave Technologies Ltd which is authorised and regulated by the Financial Conduct Authority (FRN: 775330)🛡
Any resident of the UK, excluding US citizens, can access the platform and the Waitlist, and can participate in the Giveaway. To join the platform, you need to provide your name, surname, date of birth and your residential address. That’s it!
Orca App Limited ( t/a “Orca”) is a company registered in England and Wales (company number 12376651), with its registered office at 20-22 Wenlock Road, London, England, N1 7GU.
Currently only selected LSE stocks and ETFs are available for trade. More stocks will be made available soon for you to invest in.
On the Orca app, you can top up your account by anything from £1 to £20,000 per day. As for withdrawal, there are no limits set.
Orca fulfils payments via TrueLayer, a regulated provider that guarantees fast and secure bank transfers. To protect you, we use the Open Banking system, a UK-regulated program whose legal framework is delimited by European directive PSD2 on digital payment services. This makes data and transactions faster and more secure for UK residents. You can check the full list of participating banks here - https://truelayer.zendesk.com/hc/en-us/articles/360016020194-Which-banks-and-PSPs-are-supported-in-the-Payments-API-in-the-UK-.
That depends on the option you chose. Two options are available for Orca’s users: Standard withdrawal: This is a basic withdrawal via BACS — the funds will be delivered in 3-5 days. Faster payment: With this option, the funds will be delivered in 2-24 hours. The fee for this transaction is £5. The exact time of funds being sent is determined by the cut-off time of our partner. All withdrawals are sent in bulk at 3pm on business days.
Your money will be invested in Securities, or Exchange Traded Funds of your choosing. You are fully in control of what Securities or Exchange Traded Funds you select within the list of Investments available through the Orca GIA.
Any income generated from the assets inside your Orca GIA will be reinvested, so cannot be withdrawn as natural income.
An ISA is a tax efficient way of saving or investing as all income and capital gains arising within an ISA are currently exempt from any personal liability to UK Income Tax and Capital Gains Tax. There are four types of ISA: • Cash • Stocks and Shares • Innovative Shares • Lifetime ISA A payment by you into an ISA in any tax year is called a subscription. ISAs can only be held in a sole name. ISAs held in joint names are not permitted. Orca only offers a Stocks and Shares ISA.
Yes. The Financial Services Compensation Scheme (FSCS) protects consumers when financial services firms fail [or go bust]. It is the compensation scheme for customers of UK authorised financial services firms, and includes investment firms. The maximum claim that could be made by your GIA is £85,000. Further information about the compensation arrangements is available from the Financial Services Compensation Scheme at www.fscs.org.uk.
Orca App Ltd is an appointed representative of RiskSave Technologies Ltd which is authorised and regulated by the Financial Conduct Authority (FRN: 775330). In addition, our partners have all the necessary licenses for holding money and assets. Our investors are secured by the Financial Services Compensation Scheme so that if we or any of our UK-regulated partners get into difficulty your investments will be protected up to £85,000💰
Basic order: This is a general order that is executed instantly. You will never spend more than is shown on the app. In order to fulfill the basic order, Orca reserves 0.3% of the estimated cost to increase the chance of the market order execution. This means that the maximum order price that will be executed is the estimated price + 0.3%. Also, if at the moment of fulfillment, the execution price is lower, the rest of the estimated cost will be rolled back to your balance. Trailing stop:This is an order that is set to minimize the risk of loss and protect your money. This order will be automatically executed depending on the parameters you set. When the price goes up, the trailing stop increases its stop price. When it falls below the last stop price, it triggers the basic order. Here’s a simple example: You buy an asset when the price is £100. You set a trailing stop at -10%. This means that if the price falls by 10% to £90, an order to sell the asset will be triggered. If the asset’s price rises to £115, then the trailing stop will be triggered should the price drop by 10% of this new price - that is, if it drops to £103.50. Be aware that trailing stops are not guaranteed, and so can be subject to slippage. This means that they may not be executed at exactly the level you have specified. Postponed order: This is an order to buy or sell an asset out of market hours. The price indicated in the pending order may be either higher or lower than the actual execution price. In the case that you want to buy or sell an asset at a time that the exchange is closed, you can use a postponed order. If you want to fulfill the postponed order, Orca will reserve 3% of the estimated cost to increase the possibility of successful execution. This means that the maximum order price will be the estimated price + 3%. Also, if at the moment of the fulfillment, the execution price is lower, the rest of the estimated cost will be rolled back to your balance.
First of all, it’s incredibly simple to register as an investor with Orca. You can set up a General Investment Account (GIA) directly on the app. Also, an Individual Savings Account (ISA) will be available in the near future. Here’s a brief explanation of both options: ISA is tax-free, but has a limited balance allowance: £20,000 for two accounts (stocks and shares ISA, and a cash ISA). GIA has no limits on your balance allowance. However, you must pay the taxes on any profits made.
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