Passfolio vs Bamboo: Which one is Better, Different and Similarities

This article contains the comparison (similarities and differences) of Passfolio and Bamboo.

Now talking about Bamboo and Passfolio, both are stock trading app or platform. People are asking about the different between them. However, I will not only talk about their difference, I will also compare their similarities.

Without no further Ado, let's get started.

Definition of Passfolio and Bamboo.

Passfolio is a global, zero commission stock trading platform that provides a digital app that enables people from over 170 countries around the world to have access, trade and invest in US companies stocks and shares.

Bamboo is a digital stock trading platform that gives access to US stocks market. It users are grants access to more than 3,000 stocks in the US stock market.

Similarities Between Passfolio and Bamboo.

Bamboo and Passfolio are US stockbroker that grant users access to US stock market. Both stock trading platform possesses apps that support in offering trading and investing services to users.

You can simply download both stock trading apps on iOS app store for iPhone users and Google play store for Android users.

Passfolio and Bamboo support the use of cryptocurrencies in the apps, plus withdrawals of funds into their local bank account.

Both platforms support trading such as buying and selling of US Stock in their mobile application.

The account opening requirements for creating an account on both platforms are similar. Like Passfolio, you must be at least 18years and other documents like a valid government issued ID card, residential address and full name will required. As a Bamboo users, all those documents and requirements must be submitted too before you could complete your KYC verification.

Differents Between Passfolio and Bamboo.

Passfolio was created or launched in 2018 while Bamboo was founded in 2019. Passfolio is one years older in the stock market before Bamboo dived into the ecosystem.

Bamboo is a US stock broker that grant access to Nigerians and other African countries like Ghana, South Africa in the US stock Market. While Passfolio offers its stock brokerage services to over 170 countries across the world.

Passfolio offers low or zero commission or transactions charges and fees. And zero minimum investing balance compared to Bamboo's that N15,000 investing capital in any US stocks.

Bamboo supported payment methods allow you to withdraw your funds into your local bank account in Nigeria. While Passfolio support more that ten (10) payment methods that allow users to cashout their money.

However, for Nigerians using passfolio, you have the option to withdraw funds via bank transfer and funds your passfolio wallet via bank transfer and credit/debit card options.

Comparisons of Passfolio and Bamboo.

Here containa the benefits and consequences of using passfolio and bamboo stock trading app.

Pros of Passfolio

It has no minimum account opening and no minimum deposit.
Passfolio app is secured by top security authorities in the United States.
Trading of digital assets are available on the platform
Passfolio can be rebalanced
Passfolio app is highly secured and protected

Pros of Bamboo

Rebalance is also supported on Bamboo.
It's user friendly
Trading of cryptocurrencies are also allowed
Availability of automatic round-ups
Bamboo is secured too

Cons of Passfolio

It has no demo account
Funds settlement takes days before it can be completed.
It has no forex options or mutual funds.
It has a high margin trade.
Withdrawal fees and charges are applied.

Cons of Bamboo

No notification alert of price change is placed on stock user invested in.
It also takes days for funds withdrew to be completed.
It possesses only dollar wallet
Bamboo has no web version

FAQs about Passfolio and Bamboo

Here are the most Frequently Asked Questions about Passfolio and Bamboo.