10. june 2019
LHV mobile bank has been complemented with a long-awaited additional feature: from now on, LHV Mobile Bank users can buy and sell foreign exchange shares and exchange traded funds on their mobile.
Both iOS and Android device users can trade foreign shares via LHV Mobile Bank.
“Last December, we started offering the Baltic stock trading opportunity in our Mobile Bank and our customers have been very pleased with the new opportunity. Of course, many customers asked the question of when they can start making transactions with foreign shares as conveniently. Now we can say that all the shares from all stock exchanges are conveniently available on a mobile device,” said Sander Pikkel, Head of LHV Brokerage Activity.
Convenience and speed are benefits working in favour of the Mobile Bank, and are very important when it comes to trading. “All of life is in the process of moving to smartphones. Only a few movements of the finger are necessary in the Mobile Bank to go from an idea to executing a transaction. As opposed to the Internet Bank, in the LHV Mobile Bank traders will immediately see the price info graphic both in the transaction view and in the detailed view of the position,” noted Pikkel.
LHV Pank is a Baltic stock exchange market leader, and two-thirds of the bank’s clients who are investors, own Baltic shares. At the same time, in recent years, the number of foreign shares and the number of clients holding exchange-traded funds, i.e. ETFs, has increased significantly. More than half of LHV's investing clients now own foreign shares. “Foreign shares and index funds allow investors to move their portfolios to a new level, both in terms of dispersion and growth potential. Therefore, we are pleased that more and more of our clients are using LHV's wide range of foreign shares. With the Mobile Bank update, we can further contribute to this trend,” said Pikkel.
In addition to a client agreement, investing in foreign shares requires the conclusion of an investment services agreement, which can be done conveniently in the Mobile Bank. In order to obtain the US tax incentive, i.e. a dividend tax rate of 15%, clients should first confirm their tax residence on the W8-BEN form.
In the Mobile Bank, in addition to the usual purchase and sale transaction, it is also possible to short sell instruments traded on US stock exchanges, i.e. to bet on their decline. You can use the Mobile Bank for all necessary banking operations: to make convenient payments, set the limits on your bank cards, order automatic notifications and perform other bank operations. LHV is continuously improving its Mobile Bank, in order to offer clients the world’s best mobile bank.
LHV’s Mobile Bank app can be downloaded from the AppStore or Google Play.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs over 410 people. LHV’s banking services are used by 174,000 clients, and pension funds managed by LHV have more than 177,000 active clients.All news