FTX US to Move Into Stock Trading Mid Summer
FTX is one of the top crypto exchanges in the world where you can trade or store crypto and other digital assets including NFTs however, they have announced that they are going to be moving or rather expanding their reach to equity trading where they will be offering equities to investors in the US. This announcement was made by the company this week and it plans to allow traders to participate with little or no account balance and also offer a no-fee brokerage account.
Being described as FTX Stock now, the stock trading service will be available in the US trading app where investors can choose from the hundreds of stock and exchange-traded funds but not all investors in the US but only a selected few that has been whitelisted. The clients or investors that will also benefit from it and all the features included in the exchange are users from North America but only as from mid-summer.
The president of FTX US, Brett Harrison released a statement saying: "Our only goal is to offer a holistic investing service for our customers and users across all asset classes. With the current launch of FTX Stocks, we have created a single integrated platform for retail investors to easily trade crypto, NFTs, and traditional stock offerings as they want through a transparent and intuitive user interface. 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."
Remember earlier this week also the CEO of FTX Sam Bankman-Fried purchased 7.6% of Robinhood stock and when asked why he did that, he said it was just a passive investment not because they are trying to gain massive profit and also it’s was a move to that will provide extra features that will benefit or improve the company’s crypto offerings and at the same time attracting customers.
Brett Harrison also believes that even in bad times, their US customers will be willing to trade crypto and equities as the company’s goal is log-term to offer great variety of different assets and a superior interface compare to others.
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