Midas startup brings commission-free stocks investing to Turkey

Midas’ QNBEYOND Acceleration Program was among 11 initiatives that made a presentation on the 2nd term Demo Day. Setting out with the goal of becoming a financial application that provides commission-free investment in Turkish and American stocks, Midas was founded by Egem Eraslan and Umut Bozkurt in January.

Midas, which soon became the centre of attention with the opportunity to invest without commission in the stocks it promised, will soon start the open beta process. An important “hype” has already been created for Midas in the enterprise and finance sectors.

Stock investments are becoming a more popular topic in our country as well as in the whole world. According to the information shared, the number of domestic investors reached an all-time high with 1 million 676 thousand 196 as of the end of August.

According to the data shared by the Central Registry Agency (MKK) in August, the number of domestic investors increased by 76 thousand 398 and reached 1 million 676 thousand 196 in August. The number of domestic investors in Borsa Istanbul has also increased by 41 percent since the beginning of 2020.

Egem Eraslan, the founder of the initiative stated that the first 6 months of Midas since it’s foundation passed with the analysis, license and business agreement processes.

After the first 6 months, a frenetic development process started. Midas is currently managed by a team of 15 and new names join the team every week. As it is said, Midas will focus on investing in Turkish and American stocks without commission.

Although the focus will be on stocks in the first place, leveraged transactions and options market products will be included in the Midas platform in the future. Eraslan stated that one of Midas’ most vital products will be the partial purchase and sale of American stocks.

In this way, Midas users will be able to divide and sell stocks and easily invest even in very expensive stocks. Having acquired the CMB (Capital Market Board) license, Midas subsequently obtained the CMB establishment license. According to the information shared, the MVP (minimum viable product) of the product is over and the closed beta process is taking place for now.

Let’s add that the closed beta process is not open to the public and is only carried out with the partners of the company. There is a very short time left for Midas to enter the open beta process. Eraslan pointed out that Midas will start the open beta process next January and will accept users on the waiting list.

Stating that there are important developments in the field of investment, Eraslan also emphasized that they will share the details of the investment before Midas is put into use. Midas, which is expected to start the open beta process in January, will be gradually available to everyone in the future.

source: / translated by Melisa Karayusufoglu

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