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FTX US is launching a new equities trading platform for US exchange-listed securities, according to an announcement Thursday.
The exchange says that the new platform will include common stocks and exchange-traded funds (ETFs) available fractional shares for select instruments, and will be integrated into the existing FTX US crypto trading app. For transparency, the platform, called FTX Stocks, will initially route all orders through Nasdaq, and won’t receive any payment for order flow.
FTX US President Brett Harrison said:
“Our goal is to offer a holistic investing service for our customers across all asset classes. With the launch of FTX Stocks, we have created a single integrated platform for retail investors to easily trade crypto, NFTs, and traditional stock offerings through a transparent and intuitive user interface.”
As per the company’s press release, FTX Stocks will offer its customers no-fee brokerage accounts, commissionless trading, and free market and fundamental data. There is also no minimum balance or tiered account system seen in other retail trading platforms.
Image via Shutterstock
The announcement also says that FTX Stocks will be the first trading platform that will allow users to fund their accounts and bet on equities with stablecoins, which it will facilitate by partnering with the FTX US crypto exchange. FTX Stocks has partnered with Embed Clearing LLC, a clearing company specializing in providing whitelabel brokerage services to broker-dealers and investment advisor firms.
“There is clear market demand for a new retail investment experience that offers full order routing transparency to customers and does not rely on payment for order flow,” Harrison said. “As we grow the product offering and capabilities, we are excited to give our customers even greater choice for order execution, as well as the tools they need to make informed routing decisions.”
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
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- Source: https://www.coinbureau.com/news/ftx-us-launches-new-stock-trading-offerings/
