FinTech News
TheStreet and Tornado Launch Investing News and Education App
Well-known finance site TheStreet and FinTech brokerage platform Tornado have debuted a new mobile app that merges the strengths of each.
About the app:
The new app called TheStreet powered by Tornado is now available for iOS and Android free of charge. According to the two companies, the app combines breaking investment news from TheStreet with Tornado’s tech, data, and “a vibrant investing community.”
Among the features called out in the press release are Q&As with Wall Street vets, the option to receive push alerts for breaking news as well as trades, and more.
About Tornado:
Tornado is a brokerage platform that emphasizes education and investing in yourself. For example, in addition to offering a simulated trading account option, their live brokerage account features a Learn and Earn program, under which customers can unlock up to $25 in bonuses as they “level up their skills.” Additionally, Tornado includes portfolio optimization and personalized data to help investors make more well-informed decisions.
Currently, the service comes at a cost of $9.99 per month. That subscription includes up to 50 commission-free trades. Subsequent trades or trades made without a subscription are $4.50 each.
What they’re saying:
Announcing the app, TheStreet’s editor-in-chief Sara Silverstein stated, “The integration of up-to-the-minute market information with stock trading and wealth-building ideas makes this app an indispensable tool. Investors of all levels and styles can discover ideas, research stocks, and make smarter investing decisions with TheStreet powered by Tornado.” Tornado CEO and co-founder Bernard George added, “At Tornado we believe every investor has unlimited potential. We’re proud to launch a solution that represents a seismic shift in how investors access financial content and make investment decisions.”
My thoughts:
To be honest, without checking out the product itself, it’s hard to understand what about TheStreet powered by Tornado app makes it unique. So, I downloaded the app — and was surprised to be greeted by a sign-up offer from Tornado, including the option to open a brokerage account. While it was possible to continue with a simulated trading account, this process made it seem as though the new app is really just a version of Tornado. If that’s the case, it begs the question: why not just integrate TheStreet content into the regular Tornado app instead of launching a standalone app?
Obviously the people involved here are smarter than I am, so I’ll trust that there’s a good reason for this. If nothing else, it does seem like a smart idea to bring these two brands together.
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