FTX US Introducing Zero-Commission Stock Trading

FTX US is going where no other cryptocurrency exchange has gone before: regulated US stock trading. The company, controlled by millionaire wunderkind Sam Bankman-Fried, announced the launch of a stock trading tool on Thursday, making it one of the most well-known crypto companies to go into regulated securities. FTX Stocks will be available through the FTX US mobile application, according to a press statement. Hundreds of US-listed firms and exchange-traded funds will be available for trading. JUST IN: FTX US launching zero-commission stock trading https://t.co/IwRpwlNS0z — Frank Chaparro (@fintechfrank) May 19, 2022 According to a news release, FTX Capital Markets is “an affiliated broker-dealer registered with the SEC and member FINRA/SIPC” and will provide brokerage services. Over the next few months, the feature could be rolled out to all FTX US consumers. To make a trade, FTX US will not impose commission fees, and clients will be able to fill their accounts using the popular stablecoin USDC. FTX US intends to provide crypto derivatives in the United States through a proposal that would allow it to sell such instruments directly to customers, posing a threat to CME Group. Customers can already purchase futures and options products from exchanges through brokers and futures clearing merchants. CME Group, which dominates commodity derivatives trading, has spoken out against FTX, stating in a recent news statement that FTX’s...