Bermuda Investment Advisory Services is offering global web-based trading for $6.95 per trade, plus two cents per share.

Its just-launched Freedom Trading securities trading platform will have mobile capabilities.

“This will be less than half the cost of the most competitively priced internet trading platform on the island and in line with the cost of using US-based discount brokers,” BIAS said in a statement yesterday.

Robert Pires, the firm’s chief executive officer, has been testing the platform himself for some months.

“I am a technophobe although we at BIAS have always strived to offer high touch service capabilities to our clients through the most advanced technologies available in the securities markets,” Mr Pires said. “If I can trade on this mobile platform, anyone can.”

The platform allows investors to trade securities via smartphones such as Apple’s iPhone or Samsung’s Galaxy as well as through desktop computers, laptops and tablets.

The platform provides 24/7 execution on securities listed in markets around the globe, as well as options and currency trading. It also offers news, market data, research papers and technical charts.

BIAS will be returning to the non-advisory execution market after an absence of more than five years and their competitors include Butterfield Bank, Clarien Bank and LOM, which all offer their own online trading platforms.

Existing BIAS clients and those who transfer from other island-based trading platforms will be offered free trading until October 30.

BIAS has operations in Cayman as well as Bermuda. Mr Pires said he viewed the platform primarily as a way of deepening the firm’s relationship with clients, rather than being a significant generator of revenue.

The firm has hired Alastair Melvin to assist with the launch of the product and to provide educational and administrative support to clients.

Mr Melvin can be contacted at freedomtrading@bias.bm or by phoning 298-5690.