Private beta of zero-fee stocks trading now open to select FTX US Stocks waitlisted users
CHICAGO, May 19, 2022 /PRNewswire/ — West Realm Shires Services (“FTX US”) and FTX Capital Markets (collectively referred to as “the Company”) today announced the launch of FTX Stocks, an equities trading platform offered through the FTX US trading application. The launch will commence in a private beta phase for select US customers chosen from a waitlist.
FTX Stocks offers trading and investing in hundreds of US exchange-listed securities, including common stocks and ETFs, in an integrated experience within the existing FTX US cryptocurrency trading application. To provide transparent trade execution and fair pricing, FTX Stocks will initially route all orders through Nasdaq, and will not receive any payment for order flow. In addition, fractional share trading will be available in select securities.
FTX US President Brett Harrison commented on today’s news, “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.”
Continuing the Company’s mission to democratize access to financial services, FTX Stocks will offer its customers no-fee brokerage accounts, commission-less trading, and free market data and company fundamental data. The Company further chose to eliminate minimum required customer balances and tiered account systems common among retail stock trading platforms. The release of FTX Stocks marks the first time in industry history that retail brokerage accounts can be funded with fiat-backed stablecoins such as USDC via a partnership with the FTX US crypto exchange, in addition to the standard USD deposit methods of wire transfers, ACH transfers, and credit card deposits.
Harrison further commented, “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.”
Securities trading is offered through FTX Capital Markets, a FINRA member broker-dealer. FTX Stocks has partnered with Embed Clearing LLC, a new FINRA, DTC, NSCC and Nasdaq member clearing firm that specializes in providing whitelabel brokerage services to broker-dealers and registered investment advisors businesses. Embed will route, execute, clear and custody all FTX Stocks customer accounts and trades.
About FTX US
FTX US is a US-regulated cryptocurrency exchange, built from the ground up. Its mission is for FTX US to grow the digital currency ecosystem, offer US and international traders a platform that inspires their loyalty, and to become a market-leading US-regulated cryptocurrency exchange.
To learn more about FTX US, please visit: https://ftx.us/
Brokerage services offered by FTX US are provided by FTX Capital Markets LLC, which is an affiliated broker-dealer registered with the SEC and member FINRA/SIPC. Custody, execution and clearing services for securities are provided by Embed Clearing LLC, an independent registered broker-dealer and member FINRA/SIPC.
M Group Strategic Communications (on behalf of FTX US)
SOURCE FTX US