Lunar has decided to offer a simplified stock trading service for people who have no previous experience in stock trading but may have more time on their hands than usual.

Lunar is a Danish digital bank that less than two weeks ago added another EUR 20 million to an already successful Series B funding round, bringing the current total to EUR 46 million.

Read also: Visa partner Fold launches Bitcoin rewards card

This Scandinavian challenger bank received a full European banking license in August 2019 and soon began offering a stock trading service, giving its clients access to 300 European and US companies for investment.

This platform was developed by the Danish bank Saxo and now allows users to trade international and Danish stocks and securities.

Ken Villum Klausen, founder and CEO of Lunar, said: “We have expanded our stock selection, both internationally – so you can buy Amazon, Tesla, Square and the like – as well as a large number of Nordic stocks.”

“Our job is to weed out the features that would make a solution too complex for first-time investors. Building this simple experience caters to a segment that Saxo may not have served in the past,” he added.

Lunar is looking to expand its investment opportunities, including finding a partner with whom it can offer a robo-advisory service.

“We can offer funds and fractional shares through the Saxo channels, but for a robo-advisor we would probably have to work with someone else.”

Read also: Monzo closes customer service office in Las Vegas, 165 employees laid off

Given the COVID-19 crisis and the prolonged period of volatility ahead, one might assume that now is not the best time for early-stage investors to try their luck. However, Villum disagrees.

“I actually think it’s a great time,” Villum says, “mainly because it’s a time when you have to be very alert given the number of dips and rises we’re likely to see.”

To date, Lunar says it has over 150,000 customers and employs 120 people across Scandinavia.

(mc4wp_form id=”2736″)

Source: https://www.finextra.com/newsarticle/35615/lunar-simplifying-stock-trading-with-new-service-for-beginner-investors?utm_medium=dailynewsletter&utm_source=2020-4-15&member=116079https:// www.altfi.com/article/6432_danish-challenger-bank-lunar-launches-simplified-trading-platform-for-beginners