FTX US Introduces a Zero-Commission Equities Trading Platform
Customers who joined the firm’s non-public beta queue can also additionally now use the site to shop for equities and ETFs. According to the agency, the brand new capability consists of loads of preference US-exchange-indexed not unusual place stocks, securities, and ETFs. FTX will even start with-course equities buying and selling platform orders thru Nasdaq. The regulator also stated that select securities may be available for fractional percentage purchasing and selling. Users may also buy stocks, shares, and ETFs using a stablecoin like USDC, a credit card, a wire transfer, or an ACH transfer. “Our objective is to provide our customers with a comprehensive finance experience across all asset classes,” FTX US president Brett Harrison said in a statement. “With the launch of FTX Stocks, we’ve connected a single integrated platform for retail traders to effortlessly interchange crypto, NFTs, and traditional inventory services via a clean and easy user interface.”
The startup will now compete with the likes of Robinhood, a financial services company that also offers cryptocurrency, stocks, and ETFs to users. Robinhood has just added crypto-asset services, same as how FTX US recently added stock purchase choices. The company’s recent FTX Stocks feature also comes after FTX founder Sam Bankman-Fried purchased almost 8% of Robinhood shares. Another resemblance to Robinhood is that FTX US claims no fees would be deducted from authorized brokerage accounts. “FTX Stocks will provide its users with no-fee brokerage accounts, commission-free trading, free-market data, and corporate fundamental data,” the company said in a statement on Thursday. “The firm also elected to do away with the minimum necessary client balances and tiered account structures that are customary in retail.”
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