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Crypto Exchange FTX U.S. Moves Into Stock Trading
Summary: According to CNBC, cryptocurrency exchange FTX is launching a stock trading platform called FTX Stocks that will allow investors to trade cryptocurrencies alongside stocks. It aims to offer investors a full suite of asset class options in a one-stop investment shop. "Our goal is to offer a holistic investing service for our customers across all ...
According to CNBC, cryptocurrency exchange FTX is launching a stock trading platform called FTX Stocks that will allow investors to trade cryptocurrencies alongside stocks. It aims to offer investors a full suite of asset class options in a one-stop investment shop.
"Our goal is to offer a holistic investing service for our customers across all asset classes,” said FTX U.S. President Brett Harrison. “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."
Like most online brokerage firms, trades will be commission free. In addition, users will not be charged a fee for brokerage accounts and there are no minimum balances required. Customers will be able to fund their accounts with stablecoins backed by fiat currencies like Circle’s USDC through a partnership with the FTX US crypto exchange or dollars.
FTX will initially route all orders through Nasdaq, and will not receive any payment for order flow – a controversial practice of routing customer orders to high-speed traders in exchange for cash. FTX is taking a different strategy than the popular stock trading app Robinhood, which relies on payment for order flow.
By Amy Liu
Tags: FTX U.S.,Stock Trading
Link: Crypto Exchange FTX U.S. Moves Into Stock Trading [Copy]
