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Show HN: Double – Design and invest in your own stock index

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Re: Show HN: Double – Design and invest in your own stock index

#25

Post by nyrulez »

This is cool. There is a lot of hesitation to move significant assets from my Charles Schwab brokerage account. That's going to be my main hurdle. I need to understand the safety, trust, trading mechanics, flexibility that I have with Charles Schwab, all of those things become very valuable when talking about high amounts for retirement purposes. I don't really know what you can do there to attract such clients? Will anyone move $5m from their top tier brokerage to Double yet?

Re: Show HN: Double – Design and invest in your own stock index

#26

Post by jjmaxwell4 »

nekitamo wrote: post #19
jjmaxwell4 wrote: post #16

Earlier quoted context omitted.

Why trust us? 1. We're working with Apex Clearing, a large US Custodian with more than $100B of assets. Your account is in your name there. 2. We're well funded and backed by reputable investors (YC, Matrix, Youtube Cofounder, and many others). 3. We are registered with the SEC as an registered investment advisor. 4. I personally am in the process of transferring nearly my entire net worth onto the platform. We event…

Great answer, thank you. Another question: do you guys support trading of fractional shares in these custom indexes? If so, what's the smallest supported share % (eg 1%, or 0.01%)?

Yes we support fractional shares!

The fraction of a stock you can buy is currently based on a dollar amount. In our case right now it's $5.10 per stock ($5 with $0.10 of room to allow for fluctuations in prices). We are looking to lower this over time though and as our daily trading volumes grows this should come down significantly.

Re: Show HN: Double – Design and invest in your own stock index

#27

Post by dmurray »

Would you consider making the optimizer available as a standalone tool?

I've wanted a tool to do this - set a target portfolio and tell me what trades to make, taking into account transaction costs and index rebalances. I just want to buy some broad indexes so it would be great if I could buy VOO and VWRL and forget about it, but ETFs are tax-disadvantaged in my jurisdiction [0] so I tried to replicate them manually in spreadsheets. I would consider switching brokers to someone who offered this tool, though right now you're not available in my area.

[0] https://nationalpensionhelpline.ie/taxation/tax-on-investmen...

Re: Show HN: Double – Design and invest in your own stock index

#29

Post by jjmaxwell4 »

nyrulez wrote: post #25

This is cool. There is a lot of hesitation to move significant assets from my Charles Schwab brokerage account. That's going to be my main hurdle. I need to understand the safety, trust, trading mechanics, flexibility that I have with Charles Schwab, all of those things become very valuable when talking about high amounts for retirement purposes. I don't really know what you can do there to attract such clients? Will…

"Will anyone move $5m from their top tier brokerage to Double yet?"

I have!

But I understand that yes this is a hard thing to get people to move and trust, safety and trading mechanics are incredibly important. We are trying to be as transparent as possible on all those factors. I would love for you to try us out with a smaller amount first to see observe all the mechanics before making a larger move. We support full and partial ACATS transfers of existing stock positions (meaning you don't have to sell anything).

Re: Show HN: Double – Design and invest in your own stock index

#30

Post by jjmaxwell4 »

dmurray wrote: post #27

Would you consider making the optimizer available as a standalone tool? I've wanted a tool to do this - set a target portfolio and tell me what trades to make, taking into account transaction costs and index rebalances. I just want to buy some broad indexes so it would be great if I could buy VOO and VWRL and forget about it, but ETFs are tax-disadvantaged in my jurisdiction [0] so I tried to replicate them manually…

I'd love to make some of our tools available outside a brokerage relationship, but this isn't something that's on our roadmap right now. If you want to chat about how you might be able to do this more effectively yourself, please let me know - founders@double.finance
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