The Bahamas-based crypto exchange platform FTX US has announced the launch of FTX Stocks. FTX Stocks is an equities trading platform which can be accessed through the FTX trading app.
The service has been rolled out to a few customers across the US selected from a waitlist, with plans to expand across the whole customer base in the next few months.
FTX Stocks will offer trading and investing in US exchange-listed securities, including ETFs along with the company’s native crypto trading options.
“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,” said Brett Harrison, President of FTX US.
The service will offer its customers no-fee brokerage accounts and zero-commission trading. There will be no minimum required balances for customers to maintain.
FTX US will let users fund their accounts with the stablecoin USDC as well as bank transfers.
FTX will route all orders through Nasdaq, and thus not receive any payment for order flow. Additionally, fractional share trading will be available in selected securities.
Harrison continued,“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. 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.”
Along the same lines, a month ago FTX US announced a strategic investment into IEX Group, an American equity exchange. Through this investment, the two companies planned to establish a simple and transparent market structure for buying, selling, and trading digital asset securities.
