Who are we?
Yocto Enterprise, business registration no. 002598402-W develops and distributes JStock Android and JStock Desktop, to provide users with the ability to purchase selected securities listed on United States stock exchanges, including fractional interests in those securities.
When you sign up using JStock Android or JStock Desktop, you agree to commence the application process for a:
- DriveWealth, LLC US brokerage account.
We have entered into a Foreign Finder Agreement with DriveWealth, LLC (DriveWealth). DriveWealth provides execution and clearing services to the customer. Your identity will be disclosed to DriveWealth, so that DriveWealth can enter into a broking agreement with you.
Who is DriveWealth?
DriveWealth, LLC is an SEC-registered broker/dealer and a member of FINRA and SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at https://www.sipc.org/.
DriveWealth is partnered with Industrial and Commercial Bank of China Financial Services (“ICBSFS”), the US subsidiary of the Industrial and Commercial Bank of China, the largest bank in the world, as its clearing agent.
What is foreign finder?
Yocto Enterprise acts as a foreign finder, who provides customer introduction to DriveWealth’s brokerage service. We’re compensated by DriveWealth on a per transaction basis, as a percent of the transaction commission that DriveWealth earns from the introduced customer, as long as the customer remains a customer of DriveWealth. Finder would be paid a U.S. dollar fee (by DriveWealth, at no cost to customer) monthly in arrears.
Is it safe?
We utilize the latest SSL technology to encrypt, monitor and protect your data. Investor securities are held in an omnibus account in DriveWealth’s name at the Industrial and Commercial Bank of China Financial Services (“ICBSFS”), the US subsidiary of the Industrial and Commercial Bank of China, the largest bank in the world in terms of customers and assets. Investor cash is swept into a money market account at Federated Investors, Inc., a leading cash management firm.