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  • 1 Post By shri

IPOGo from ZA One

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  1. #1

    Join Date
    Nov 2008
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    IPOGo from ZA One

    I just signed up for ZA One's new product - IPOGo

    In a nutshell, you give ZA One $30,000 which they use to buy and sell IPO's.
    Sure, you could do this yourself, but the point of this is for it to be set and forget.

    The fees? There will eventually be a monthly fee of $8.8 but for now that's waived.
    The cost which is not waived is the 20% commission on profits.

    You're not going to get rich with this, but it did seem interesting enough for me to throw my hat in the ring.

    I have a referral code in case you're interested, PM me if you want.

    Investment is not without risk, this is not advice, bla bla bla

    Link

    Last edited by Rob2020; 30-06-2021 at 02:38 PM. Reason: add link

  2. #2

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    Looks like they're going down the outsourced route - a bit like SoFi ...

    Learn more

    What is IPOGo?
    IPOGo is a discretionary account service offered by AA Investment Management Limited ("AA Invest"). Under this discretionary account service, you can authorise AA Invest as investment manager with full discretion to manage the client account and invest in IPOs without further instructions from the client.
    Rob2020 likes this.

  3. #3

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    Quote Originally Posted by shri:
    Looks like they're going down the outsourced route - a bit like SoFi ...
    Yeah, and the ZA One account appears to be completely separate to the ZA Bank account
    Personally, I don't have much confidence in the future of these "virtual banks" but I had a good experience with Kristal.AI (remember that drama..) so thought I'd give this a shot.

  4. #4

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    Not looked at what it is. Might be similar to the IPO etf from renaissance.


  5. #5

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    Original Post Deleted
    The regulators are kinda/sorta strongly pushing banks to "do fintech" ... so this shouldn't be the last

  6. #6

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    - whats this 20% fee?


  7. #7

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    Dec 2016
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    I just dumped my 30K...lets see.


  8. #8

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    So they subscribe (with leverage) and sell day 1 or what is their strategy?


  9. #9

    Join Date
    Jul 2021
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    Original Post Deleted
    Why do you think this is such a terrible product? As I understand it, it's like any other investment service. In particular, it kind of resembles a hedge fund of sorts, where you could turn a profit or lose your money depending on the investment decisions the manager makes. I imagine the idea is they do the homework, put the money into IPOs they think will turn a profit, and then if they're right investors funds grow, and when investors cash-out, ZA One takes 20% of the profits.

    Is there something I'm failing to understand about the situation?
    Is there something inherently bad with this arrangement?

    To be clear, these are legit questions. I am not challenging your disposition or defending ZA. I am merely hoping to learn something.

  10. #10

    Join Date
    Dec 2016
    Posts
    62
    UPDATE....waited and waited for an IPO to get allotted...which I could have done myself & I didn't... (Long story short) 30K was lying there doing nothing.

    I withdrew after a lengthy phone call and email etc. with withdrawal charge of $500. Pumped it into crypto on an AltCoin named "Alpaca" - got back the withdrawal charge in 30 mins.

    Overall: Service Good, Product bad (not worth it). If you're willing to pump, better do it in crypto!!!