FTX Crypto Exchange Just Rolled Out Stock Trading To US Customers

Despite the massive price volatility that we’ve been seeing in the crypto market, there are all kinds of exciting things taking place in the crypto space. Check out the latest ones about the crypto exchange FTX below.

The popular cryptocurrency exchange FTX is expanding into the arena of traditional investing for retail customers in the United States.

In a new post, FTX US president Brett Harrison talked about the platform’s new feature which allows users in all 50 US states plus Puerto Rico and the Virgin Islands to buy and sell stocks as well as exchange-traded funds (ETFs).

“FTX Stocks is now live for US users!

Residents of all 50 states (yes, including NY!) as well as PR and USVI can sign up.

Trade hundreds of stocks and ETFs from both the web and the FTX US Pro mobile app.”

It’s also worth noting the fact that Harrison then responded to several questions, first specifying that the stocks offered were real and not synthetics.

He also made sure to clarify that customers who use the standard FTX app can expect to see the new trading feature functional within “a few days.”

Another interesting issue that is worth noting is that he appeared on CNBC to explain FTX’s reasoning behind offering traditional financial products at a time when many mainstream institutions are warming up to cryptocurrencies.

Harrison says the following of FTX’s approach regarding commissions:

“The biggest difference for us is we’re trying to use a model that doesn’t rely on payment for order flow. Obviously, a controversial practice that has resulted in much of the retail liquidity moving off of the public exchanges to private wholesalers.”

He continued and said:

“We think that’s ultimately resulting in worse market quality for all participants over time, and we’re trying to reverse that trend as much as we can.”