econ.markets vs Forge Global
Private-securities secondary marketplace and ATS, now wholly-owned by Charles Schwab.
econ.markets and Forge Global both give traders exposure to pre-IPO company outcomes, but they do it in fundamentally different ways. econ.markets is a prediction-contract platform: you buy LONG or SHORT binary contracts that settle on-chain when a defined outcome (listing before a down round) occurs or doesn't. Forge Global is a private-securities marketplace where accredited investors buy real shares or SPV units in private companies. The table below makes the key differences concrete. All figures are sourced as of June 2026 — verify with Forge directly before transacting.
Side-by-side comparison
| Feature | econ.markets | Forge Global |
|---|---|---|
| Model | Binary prediction contracts on pre-IPO outcomes. LONG resolves at 100¢ if the company lists before a down round; SHORT resolves at 100¢ otherwise. | Secondary marketplace for actual private-company shares. Transactions are either direct (buyer → seller) or pooled into a Forge Funds SPV.[Forge Securities FINRA CRD 134596][Schwab completes Forge acquisition, Mar 2026] |
| Who can participate | No accreditation required. Passport-agnostic, wallet-native onboarding for US + Asia/MENA from day one. | Buyers must be accredited investors under US SEC thresholds. Sellers are typically current or former employees holding vested equity.[Forge FAQs — accreditation requirement] |
| Minimum | Trader's choice — no fixed minimum. Position size is entirely up to you. | $100,000 for direct share transactions; $5,000 via Forge Funds SPV.[Forge FAQs — minimums] |
| Fees | Not publicly disclosed at time of writing — verify at econmarkets.io. | 2%–4% on direct transactions; approximately 5%+ for SPV placement. FY2024 reported net take rate: 2.8%.[Forge — fees explained][Forge 10-K FY2024 (SEC)] |
| Geographic access | Passport-agnostic. US and Asia/MENA supported from launch. | Primarily US-based. UK investors may access via Forge Europe UK, registered as an auction agent on the London Stock Exchange PISCES market (launched December 2025).[Forge UK on LSE PISCES, Dec 2025] |
| Settlement time | On-chain settlement. Enter or exit any time the market is open. | Approximately 45–60+ calendar days. A right-of-first-refusal (ROFR) window of 30–45 business days applies to most transfers.[Forge — liquidity timelines] |
| Exit / liquidity | Exit any time the market is open. Continuous on-chain settlement. | Semi-liquid. No guaranteed exit. Every transfer requires issuer approval; some companies exercise ROFR and claw back shares.[Modern Alts — Forge Global review] |
| Short side | Yes — SHORT contracts available on every listed company. | None. Long-only marketplace.[Forge FAQs] |
| What you own | A contract position — NOT equity in the company. econ.markets contracts are exposure instruments, not company shares. | Direct transactions: actual shares (or units in a Forge Trust IRA). SPV route: units in a Forge Funds single-company SPV, not shares directly.[Forge FAQs — what investors receive] |
Common questions about Forge Global
Is Forge worth it?
Forge Global is a well-capitalised, FINRA-regulated broker-dealer backed by Charles Schwab. For accredited investors who need a regulated US venue and want actual equity — not a contract — Forge is a credible choice with a long track record. The $100,000 direct minimum (or $5,000 via SPV) is a real barrier for most retail participants, and the 45–60+ day settlement window means you should expect to wait months, not hours, to complete a transaction. Whether it is 'worth it' depends entirely on whether you want real equity exposure and can tolerate the minimums, settlement time, and 2%–4% fees.
Can non-US investors use Forge?
Forge's primary market is the United States; accreditation is judged against US SEC thresholds. UK investors can access Forge Europe UK on the London Stock Exchange PISCES market (launched December 2025), but this is a separate entity. If you are based in Asia or MENA, Forge has no registered presence at time of writing. Verify with Forge directly before attempting to onboard.
Can you short on Forge?
No. Forge is a long-only marketplace. Every transaction is a buyer acquiring shares (or SPV units) from a seller who already owns them. There is no mechanism to bet against a company's IPO outcome.
When Forge Global is the better choice
econ.markets and Forge Global serve different needs. Here are the cases where Forge is genuinely the stronger option:
- ✓You want real equity ownership and a place on the company's cap table.
- ✓You need a Schwab-backed, FINRA-regulated broker-dealer for compliance or institutional requirements.
- ✓You value Forge's Price data covering 4,700+ companies as a research tool.
- ✓You want to hold private shares inside a self-directed IRA via Forge Trust custody.
Sources
All Forge Global facts above are sourced from the following primary references, verified as of June 2026.
- 1.Schwab completes Forge acquisition, Mar 2026
- 2.Forge FAQs
- 3.Forge — fees explained
- 4.Forge 10-K FY2024 (SEC EDGAR)
- 5.Forge UK on LSE PISCES, Dec 2025
- 6.Forge — liquidity timelines
- 7.Modern Alts — Forge Global review
Competitor terms change; figures sourced as of June 2026 — verify with each provider. econ.markets contracts are exposure instruments, not company shares.
Trade pre-IPO outcomes on econ.markets
No accreditation. No $100K minimum. No 60-day settlement. Wallet-native onboarding, on-chain settlement, and two-sided markets on the companies you care about — SpaceX, OpenAI, Stripe, and more.
Open econ.markets →