Crypto exchange FTX is jumping into equities trading, launching the beta phase for FTX Stocks.
The Bahamas-based exchange has launched FTX Stocks, offering trading and investing in hundreds of US exchange-listed securities, including common stocks and exchange-traded funds (ETFs).
The platform is integrated into FTX’s existing trading app and 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 notes it plans to offer free market data, as well as company fundamental data, and it will not enforce minimum required customer balances.
For transparency and fair pricing, FTX says it initially plans to route all orders through Nasdaq.
Says FTX US President Brett Harrison,
“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. 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.”
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