• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Thursday, February 2, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

FTX US opens no-fee stock trading offering for all US users

July 28, 2022
in Trading
Reading Time: 2 mins read
A A
ShareShareShareShareShare

FTX US has opened its no-fee stock trading offering to all US users, as it seeks to reach more customers.

The exchange had earlier allowed selected users to test out its stock trading option. With a full launch of the trading service, the exchange is looking to expand and attract more retail investors.

FTX US President Brett Harrison noted that despite the global financial market downturn, launching and perfecting the product during this period of slow trading volume will be more beneficial for the exchange, as it looks to count its reward when trading volume picks up again.

The Stock Trading Gameplan

While announcing plans about its stock trading offering, FTX specified it will not receive payment for order flow (PFOF), for which Robinhood has been criticized.

FTX will route all trades directly through Nasdaq rather than a third-party market maker, fostering transparency and ensuring that users receive their shares at the best possible price.

The stock trading service will be offered at no cost. Users will not be charged any commission for trading and will not be required to hold a minimum balance before accessing the full product.

As crypto adoption continues to grow in the US, FTX said it will offer crypto payment options to users. They will be able to fund their brokerage accounts with fiat-backed stablecoins such as USDC.

FTX US President hinted at plans to introduce options trading to users soon. In a recent interview with The Wall Street Journal, he said:

“What we eventually want to offer is an everything app for financial services.”

FTX in Robinhood’s Territory

FTX US competitor Robinhood grew in popularity among retail investors following the meme stock wave of 2021. However, unfavorable market conditions have seen its revenue fall 48% from  $522 million to $299 million year over year.

As financial pressures on the investment company increased, rumors surfaced that FTX was considering a deal with Robinhood. In a statement issued to TechCrunch, FTX CEO Sam Bankman-Fried, who has a 7.6% stake in Robinhood stated:

“We are excited about Robinhood’s business prospects and potential ways we could partner with them…That being said there are no active M&A conversations with Robinhood.”

Meanwhile, the Bankman-Fried-led FTX has been on a spending spree to bail out distressed crypto firms.

The FTX CEO told Reuters that the exchange was liquid enough to invest up to $2 billion to prevent a contagion from affecting the whole crypto industry.

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits


Credit: Source link

Related articles

Reporting Information on Crypto Transactions to the Tax Authorities: There is no Date yet, but You Need to be Prepared for it

February 1, 2023

BlackRock Increases Stake in Silvergate Capital to 7.2%, Shares Jump by 9.96%

February 1, 2023
ShareTweetSendPinShare
Previous Post

PolkaFantasy’s New NFT Marketplace aimée Features Exclusive Collection from Mega Man’s “Beastroid” – Blockchain News, Opinion, TV and Jobs

Next Post

Is There Such a Thing as a Bullish Rate Hike? – Blockchain News, Opinion, TV and Jobs

Related Posts

Reporting Information on Crypto Transactions to the Tax Authorities: There is no Date yet, but You Need to be Prepared for it

February 1, 2023

Both at European and global levels, new rules are being developed that will require crypto asset service providers to submit...

BlackRock Increases Stake in Silvergate Capital to 7.2%, Shares Jump by 9.96%

February 1, 2023

BlackRock, the world’s biggest asset manager, has announced the increase of its stake in Silvergate Capital, a crypto-friendly bank, to...

Bitcoin liquidations in last 24 hours top $160M

January 30, 2023

The third most significant long Bitcoin (BTC) liquidation of 2023 occurred on Jan. 30, as over $160 million worth of...

Crypto investment products see weekly inflows of $117M, highest since July 2022

January 30, 2023

Amid investor sentiment signaling ‘greed,’ cryptocurrency investment products saw weekly inflows of $117 million last week — the highest since...

2019 Bitcoin investors back in profit above $21.8k

January 30, 2023

Investors who purchased Bitcoin in 2019 are back in profit, according to data analyzed by Glassnode and CryptoSlate. The average...

Load More
Next Post

Is There Such a Thing as a Bullish Rate Hike? – Blockchain News, Opinion, TV and Jobs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Walmart: VeChain is perfectly suited for billion-$-market because it can take the workload

January 6, 2023

Sazmining Launches Wisconsin Hydro Bitcoin Mining – Bitcoin Magazine

January 17, 2023

Is Solana’s BONK the next Shiba Inu?

January 4, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • BankProv Stops Offering Loans Secured by Crypto Mining Rigs
  • LBank Exchange Will List LiveGreen Coin (LGC) on February 10, 2023
  • Regulatory action against Mango Markets exploiter is a win for DeFi — Moody’s

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$23,887.003.40%
  • ethereumEthereum(ETH)$1,674.185.92%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.19%
  • binancecoinBNB(BNB)$331.007.43%
  • usd-coinUSD Coin(USDC)$1.000.11%
  • rippleXRP(XRP)$0.4142743.11%
  • binance-usdBinance USD(BUSD)$1.000.30%
  • cardanoCardano(ADA)$0.4035775.47%
  • dogecoinDogecoin(DOGE)$0.0937961.32%
  • matic-networkPolygon(MATIC)$1.2412.94%
  • okbOKB(OKB)$40.177.27%
  • solanaSolana(SOL)$24.975.77%
  • staked-etherLido Staked Ether(STETH)$1,667.906.33%
  • polkadotPolkadot(DOT)$6.545.60%
  • litecoinLitecoin(LTC)$100.724.72%
  • shiba-inuShiba Inu(SHIB)$0.0000123.63%
  • avalanche-2Avalanche(AVAX)$21.9414.19%
  • tronTRON(TRX)$0.0636792.69%
  • uniswapUniswap(UNI)$7.037.61%
  • daiDai(DAI)$1.000.14%
  • cosmosCosmos Hub(ATOM)$14.909.75%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,836.003.42%
  • ToncoinToncoin(TON)$2.478.05%
  • chainlinkChainlink(LINK)$7.296.53%
  • moneroMonero(XMR)$179.152.88%
  • leo-tokenLEO Token(LEO)$3.37-6.82%
  • ethereum-classicEthereum Classic(ETC)$22.676.14%
  • AptosAptos(APT)$18.259.70%
  • bitcoin-cashBitcoin Cash(BCH)$138.314.83%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.0933794.15%
  • apecoinApeCoin(APE)$6.227.10%
  • quant-networkQuant(QNT)$149.758.22%
  • filecoinFilecoin(FIL)$5.7311.21%
  • nearNEAR Protocol(NEAR)$2.469.96%
  • crypto-com-chainCronos(CRO)$0.0812893.35%
  • lido-daoLido DAO(LDO)$2.337.15%
  • algorandAlgorand(ALGO)$0.2564578.08%
  • vechainVeChain(VET)$0.02494410.01%
  • hedera-hashgraphHedera(HBAR)$0.0691248.55%
  • internet-computerInternet Computer(ICP)$6.022.54%
  • fantomFantom(FTM)$0.589.90%
  • decentralandDecentraland(MANA)$0.798.36%
  • axie-infinityAxie Infinity(AXS)$11.669.10%
  • aaveAave(AAVE)$91.8312.88%
  • the-sandboxThe Sandbox(SAND)$0.767.65%
  • flowFlow(FLOW)$1.159.94%
  • eosEOS(EOS)$1.093.42%
  • elrond-erd-2MultiversX(EGLD)$44.405.23%