Crypto Exchange FTX Reveals Zero-Fee Stock Trading Platform for US Customers

There are all kinds of optimistic moves that are taking place in the crypto space. Check out the latest ones below.

Crypto exchange FTX is jumping into equities trading, launching the beta phase for FTX Stocks.

Accoridng to the latest reports, the Bahamas-based exchange has launched FTX Stocks, offering trading and investing in hundreds of US exchange-listed securities. It’s important to note the fact that this includes common stocks and exchange-traded funds (ETFs).

The platform is integrated into FTX’s existing trading app. It is available for select US customers who were selected from a waitlist.

FTX CEO Sam Bankman-Fried says the exchange’s new equities trading platform won’t charge any fees.

“We’re opening stock trading with no Payment for Orderflow and no fees. So what do we make from it? Nothing. And that’s ok. Our goal is just to give customers a great experience.”

The company also noted that it plans to offer free market data, as well as company fundamental data. Another important issue is that it will not enforce minimum required customer balances.

Regarding transparency and fair pricing, FTX explained that it initially plans to route all orders through Nasdaq.

FTX US President Brett Harrison, stated the following:

“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.”

He continued and said this:

“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.”

Other than this, the crypto market is still recovering following the latest price losses. The price of Bitcoin is still in the red today.

At the moment of writing this article, BTC is trading in the red and the king coin is priced at $29,235.