From Home Furnishing Business
Overstock.com Launches Online Equities Trading Platform
The new venture, which is accessible through Overstock’s FinanceHub lending and investment site, allows any investor in America accessing the Siebert portal through the FinanceHub the opportunity to conduct trades of U.S. equities at discounted prices.
Members of Overstock’s Club O Gold loyalty program will be charged $1.99 per trade, while non-Club O Gold members will be charged $2.99 per trade.
“Muriel Siebert was a woman who stood for integrity in capital markets, and I am pleased for Overstock.com to be associated with the firm she founded. We have integrated so as to be able to bring to the public this discount trading platform, priced with an eye towards re-democratizing capital markets in the U.S.,” said Overstock.com CEO Patrick Byrne.
Gloria E. Gebbia, majority shareholder and board member of Siebert Financial Corp. said, “We are excited and view this agreement as an excellent growth opportunity for Siebert to connect with Overstock's customers, many of whom are women grappling with financial challenges including retirement planning.”
“Through this initiative, we will continue to honor the trailblazing legacy of our founder, Muriel F. Siebert, who obtained a seat on the NYSE to address the pay inequality she experienced working on Wall Street. So, we are especially pleased to optimize the Overstock consumer experience by offering discounted trading, along with other quality retail brokerage services, designed to meet the financial and investing needs of all our clients,” she added.
In addition to discounted trading, Club O Gold members enjoy free shipping on every order and at least 5 percent rewards on every purchase. Club O Gold membership is available for $19.95 annually.