You can use Facebook for all sorts of things — wishing your friends a happy birthday, sharing photos from your latest trip or arguing about politics. Add to that stock trading.
TD Ameritrade Holding Corp. customers are now able to trade equities and exchange-traded funds using Facebook Inc.'s Messenger services, according to a company statement Monday. Clients can also make deposits, access quarterly performance video statements and receive weekly alerts that rehash market moves.
"The notion of investing and trading can often seem daunting, it can seem complex," Sunayna Tuteja, director of emerging technologies and innovation at TD Ameritrade, said in an interview. "So what we wanted to do with this experience is say, let's break down the barriers and build an experience that is conversational."
TD Ameritrade announced its partnership with the social media giant in August, following companies including Bank of America Corp., Mastercard Inc. and American Express Co. in the use of so-called chatbots. The firm is the first to offer trading services on the platform. The chatbot will also help simplify trading for casual investors by defining terms such as limit and market orders, Tuteja said.
The Omaha, Nebraska-based brokerage is working on extending the capabilities to other technology platforms including Amazon, Apple, Google and Twitter, Tuteja said.
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