FTX Accepts Trading Stocks And ETFs For All US Users

The US branch of the FTX exchange has expanded its range of services, offering its clients the opportunity to trade stocks and ETFs.

FTX expands service coverage

FTX US exchange president Brett Harrison has revealed that the offer will be open to citizens of all 50 states, including Puerto Rico and the US Virgin Islands, who can buy and sell shares of leading companies such as Apple (AAPL), Tesla (TSLA) and Amazon (AMZN), as well as trade ETFs on the company’s website and by mobile app.

FTX US launched the first form of this service two months ago. However, for now, the option is only available to a select number of preferred customers. In June 2022, Mr. Harrison outlined the company’s long-term goals with the ambition of becoming an all-in-one investment platform, not just limited to crypto.

In addition to introducing securities trading functions, FTX US also aims to provide the first real-time 24/7 escrow service for futures contracts to US users.

While announcing plans for its share trading offering, this exchange said it would not receive payments under the PFOF model. Instead, FTX will route all trades directly through Nasdaq instead of a third-party market maker to increase transparency and ensure that users receive their shares at the best price.

The exchange knows how to seize the opportunity when it fully opens for US users to access stock products right at the time when the Fed has just decided to raise interest rates and the US economy is entering a recession with a falling GDP 0.9% in Q2.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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