Crypto Exchange FTX.US Opens Stock Trading to Users Nationwide
Its president said the company won’t be charging trading fees or use a Robinhood-like payment for order flow business model.
Jul 27, 2022 at 8:40 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SAKZBPVVJVALBGRJQZOJFH73QQ.jpg)
FTX.US President Brett Harrison (Danny Nelson/CoinDesk)
Cam Thompson is a news reporter at CoinDesk.
FTX.US has opened stock trading to users in all 50 American states, company President Brett Harrison said in a tweet Wednesday.
- The cryptocurrency exchange will now allow all users to trade hundreds of stocks and exchange-traded funds either online or through the FTX.US Pro mobile app, he added.
- The U.S. unit of the FTX exchange piloted the feature to a select group of customers in May, and said it would not charge fees or monetize trades in a way similar to Robinhood (HOOD), which has been criticized for its payment for order flow business model.
- In June, FTX.US acquired stock-clearing company Embed Financial Technologies to provide its application programming interface (API) and brokerage services to the platform.
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