FTX.US Launches FTX Stocks, Offers Trading of U.S. Listed Stocks and ETFs

FTX.US today announced the launch of FTX Stocks (FTX Stocks), which provides users with services to trade U.S.-listed stocks and ETFs. FTX Stocks will initially conduct a private test with selected users from the registration list.

FTX Stocks offers trading services in hundreds of U.S.-listed securities, including common stocks and ETFs. In order to make the transaction more transparent and the transaction price fairer, FTX Stocks will initially send all transaction orders through Nasdaq. During this process, FTX.US will not receive any customer order flow payment (PFOF, Payment for order flow)¹.

[Note 1]: PFOF income does not come from retail investors, but subsidies from retail orders sent to third parties for execution.

FTX.US President Brett Harrison said:

“Our goal is that everyone, whether institutional or ordinary investors, can obtain comprehensive investment services at  FTX.US . With With the launch of FTX Stocks, we have established a single trading integration platform that allows investors to easily trade cryptocurrencies, NFTs, and traditional stocks through an intuitive interface."

Generally speaking, opening an account with a traditional broker requires a fee, and the transaction also requires a broker commission. In line with the idea of democratizing financial services, FTX Stocks will provide users with free brokerage accounts, commission-free trading (still requires fees), free market data and basic company data.

In addition, FTX.US  has also canceled the "minimum required balance" and "graded account system" that are common in general stock market transactions.

The launch of FTX Stocks is a big step for the crypto market, investors can now open a stock brokerage account on the   FTX.US  platform to comply with the Deposit via stable currency (such as USDC), USD wire transfer, ACH transfer, and credit card.

Securities trading on FTX Stocks will be offered through FTX Capital Markets, a member of FINRA (United States Financial Regulatory Authority).

As for clearing, FTX Stocks will work with Embed Clearing LLC to be responsible for routing, executing, clearing, and custody of FTX Stocks clients' accounts and transactions. The firm is the new clearing company and is a member of FINRA, Depository Trust Company DTC, National Securities Clearing Corporation NSCC, Nasdaq.

Brett Harrison further stated:

“The market obviously has a need for a new investment experience. This demand comes from the need for the trading platform to provide customers with complete order transparency and cannot rely on customers Order Flow Payments. We're excited to give our users more options and tools to make investing more smoothly." 

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia