2004 Press Releases

Nirvana Systems Recommends FOLIOfn As Broker for Its Omni Trader Users


VIENNA, Virginia – FOLIOfn, the innovative online brokerage firm and financial services technology provider, announced it has cooperated with Nirvana Systems, the developer of OmniTrader™ technical analysis software, to allow OmniTrader users to interface with FOLIOfn’s brokerage Web site from within OmniTrader. The interface will allow OmniTrader users to more efficiently build and trade their portfolios.

OmniTrader automates the technical analysis process to quickly identify “buy” and “sell” candidates among a selected field of stocks. OmniTrader users typically trade between three and five stock positions per day, buying stocks that have upward pressure and selling ones that are losing momentum. The new OmniTrader interface permits users to quickly adjust their target holdings and, with just a few mouse clicks, have them sent directly to FOLIOfn for execution.

“FOLIOfn’s system complements our software and makes it attractive for investors of all sizes,” said Nirvana Systems CEO Ed Downs. “Our investors prefer holding a relatively large, diversified portfolio of securities to reduce risk, as well as having very economical trading to manage their portfolios effectively. If an investor shifts in and out of five positions a day, he will generate 200 trades in a month. Using ordinary discount brokers that charge from $7 to $10 per trade, that’s $1,400 to $2,000 per month in commissions. An investor with a $10,000 retirement account is going to have a difficult time overcoming those costs.

“The FOLIOfn system permits trading of fractional shares, so individuals with any amount to invest can buy a fully diversified portfolio,” Downs said. “And the firm’s extremely low trading costs make an active strategy like ours practical for everyone. FOLIOfn’s flat-fee trading plans begin at $19.95 per month, or $199 per year, for 200 trades per month. That averages out to less than 10 cents a trade.”

Nirvana Systems’ OmniTrader initiative with FOLIOfn follows last month’s introduction by Reuters.com of eight Reuters Select Folios that can be purchased and efficiently updated on the FOLIOfn Web site. The eight model portfolios are based on the Reuters Select stock screening system.

“We’re seeing growing interest among independent research organizations, investment newsletters and technology providers who recognize the advantages our brokerage platform provides for their customers,” said FOLIOfn Executive Vice President Greg Vigrass. “Our technology, for the first time, makes it affordable for many customers of these firms to actually put their portfolio strategies into practice. We’re pleased to be creating these new opportunities,” Vigrass said.

About Folio Investing

Folio Investing, a division of FOLIOfn Investments, Inc., is an online brokerage that enables investors to manage stocks, ETFs, and mutual funds as integrated investment portfolios called “Folios” that deliver better control, greater transparency, and lower cost. Investors can create their own Folios, much like creating personalized ETFs or mutual funds, or invest in over 100 Ready-to-Go Folios representing market indices, sectors, geographical regions, target dates, and more. The Folio Unlimited Plan features unlimited commission-free trading in twice-daily windows for only $29 a month or $290 a year. Ready-to-Go Folios can be managed or unmanaged, are not registered investment companies, and are offered by FOLIOfn Investments, Inc., a registered broker-dealer. FOLIOfn Investments, Inc. does not provide investment, tax, or legal advice. FOLIOfn Investments, Inc., is a member of FINRA/SIPC.