World’s second-largest exchange, FTX US announced the launch of FTX Stocks
FTX Stocks will give the users the ability to purchase crypto, stocks and ETFs through Stable coin.
Launch of FTX Stocks
On 19th May, FTX Capital Market and West Realm Shires Services announced the launch of FTX Stocks. This is an equity trading platform which will be accessible through FTX US trading application. This platform is however launched in a private beta phase for select US customers only.
US customers of FTX can enjoy the trading of equity and exchange traded funds (ETFs) through this private beta phase testing. They will get access to hundreds of US -exchange listed securities including common stocks and ETFs along with the integration with the FTX US Crypto Trading Application.
FTX Stocks will initially route all the orders through Nasdaq to provide transparent trading and fair pricing platform. They have also declined any payment for order flow. The company also stressed on the fact that fractional share trading is available only on selected securities as of now.
FTX, the second-largest crypto exchange in the world, announced that their goal is to provide a holistic investing service and FTX Stocks is a step towards that. It would be a transparent and non-dependent of order flow trading platform where retail investors can trade Stocks, ETFs as well as Crypto simultaneously.
According to the statement of FTX US president Brett Harrison, “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.”
FTX Stocks would also not charge fee for brokerage accounts as of now. The platform would offer other functionalities such as commission-less trading, free market data and company fundamental data totally free too.
One thing to be noted is that these accounts can be funded with fiat-backed stable coins. The purchasing can be done through a number of payment gateways such as FTX US crypto exchange, wire transfer, ACH transfers as well as Credit cards.
To offer the best services, FTX Stocks has partnered with Ember Clearing LLC. Embed would route, execute, clear and custody all FTX Stocks accounts and trades.
Robinhood is another trading platform that currently offers Crypto, Stocks and ETFs at one platform. It has only recently added crypto to their services. Unlike FTX Stocks, Robinhood works on Payment for Order Flow method. In this method exchange receives payment for orders directed their way from Market Makers.
