US-based brokerage firm TD Ameritrade, a broker-dealer subsidiary of TD Ameritrade Holding Corporation, has beefed up its offering for tech savvy investors, announcing Thursday that clients can now use Twitter direct messages to trade stocks and ETFs.
TD Ameritrade’s bot for Twitter is driven by an artificial intelligence (AI) technology that serves as a virtual assistant to allow the company communicate with its customers. It resembles the one it launched in August and enabled customers from trading equities and exchange-traded funds using Facebook’s messenger services.
TD Ameritrade, as well as several U.S. discount brokers, are enhancing their offering to attract digitally savvy and younger investors, as a slew of emerging micro-investing apps like Robinhood now offer mobile apps that let beginners buy and sell public stocks without trading fees.
Lightning Bitcoin Redefining Fast Transactions and PaymentsGo to article >>
TD Ameritrade clients can also make deposits, access quarterly performance video statements, news and events, quotes and sector information, and receive weekly alerts that rehash market moves, the company says.
The firm’s Twitter “chatbot” is smart enough to recognize intent and make recommendations based on user interactions and social sentiment, powered by LikeFolio.
Sunayna Tuteja, director of emerging technology and innovation at TD Ameritrade said: “We have to go to where our customers are,” said. “A lot of people consume their news on Twitter and the new offering is about making trading more accessible and easier.”
Sunayna added that the new products are taking their customers’ experience to a whole new level, and that it further help investors “gather news, do their research, get real-time quotes, and take action — all without leaving the Twitter Direct Message platform.”