Despite the impact of the recent pandemic, the financial markets have witnessed growth in private sector wealth and trading activities due to government spending, low-interest rate, growing retail participation, the democratization of investing and information, and the adoption of digital assets.
FDCTech, Inc. ("FDC" or the "Company," OTCQB: FDCT), a fully integrated financial technology company with a full suite of digital financial services solutions, today announced that it expects to launch the Condor Stocks & ETFs App ("Condor App") for Stocks, ETFs, and other high-growth financial securities. The Company expects to launch the app by the end of the fourth quarter for fiscal 2021.
The Condor App will be available to download at Google Play and the App Store. In addition, a web version will be available for end-users. The Company has completed the techno-feasibility of the Condor App around the lessons learned from the recent launch of similar technologies through special purpose acquisition companies (SPAC) or upcoming initial public offerings (IPOs). The Company expects to build the next-generation trading technology, multi-jurisdiction market access, transparent revenue model, and disclosures of any conflicts (1) between end-users ("Investors"), the Company, and its liquidity provider. As a result, the Company expects to deliver a cost-effective and seamless experience, distinct from existing offerings.
Here are some highlights of the Condor Stocks and ETFs platform:
(1) Among other things, the Company urges brokers to disclose the revenue model to its customers when promoting a 'no commission model.' The Company encourages brokers to adequately disclose risks associated with margin and options trading and carefully evaluate customers who do not have the adequate trading experience to trade exotic products or high-risk assets. In most instances, the Company recommends at least basic trading and investing education material to potential traders and use of demo account before opening a real account.
The Company recently announced the acquisition of Genesis Financial, Inc., giving it immediate access to offer investment products through 114 licensed financial advisors to the Australian wealth management industry, valued at more than $2.1 trillion. The annual fees generated by the Australian wealth management industry are close to $3.9 billion.
Condor FX Pro Trading platform is available for demo on Company's website. We expect the Condor Stocks and ETFs App with a full release at the end of the fourth quarter of fiscal 2021. Please note that trading in speculative financial securities is not suitable for everyone. Investors must complete a risk profile assessment and seek the advice of a financial advisor whenever possible and before opening a live account with a broker.
About Genesis Financial, Inc., a subsidiary of the Company
Genesis is a fintech-powered wealth management company offering financial services through two Australian-regulated entities in wealth management, credit license, and tax and accounting advisory services.
FDCTech, Inc. ("FDC"), formerly known as Forex Development Corporation, a fully integrated financial technology company, develops and delivers a full suite of technology infrastructure solutions to FX, Crypto, Wealth Management, and other future-proof financial sectors.
Press Release Disclaimer
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.