FTX US opens stock trading to all clients

Clients of FTX US gained access to trading traditional stocks. This followed the completion of beta testing among a limited group of users.

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— SBF (@SBF_FTX) July 27, 2022

The company said it will in the future add the ability to trade options. Specific timelines were not disclosed.

FTX US does not charge commissions on stock trades and does not engage in the practice of “payment for order flow”.

The CEO of the parent company, Sam Bankman-Fried, emphasised that in the initial phase the exchange would not earn revenue from the service. The platform aims to grow its client base and increase assets under custody, according to Bloomberg.

“If we refine this product during a period of low client activity, we will capitalise on this opportunity when trading volume picks up again,” said Brett Harrison, CEO of FTX US, in an interview.

The executive declined to provide specifics about a potential partnership with Robinhood. He noted that he is “excited about the prospects of doing business with an online broker.”

Earlier in May, Emergent Fidelity Technologies, the entity tied to the head of FTX, acquired 7.6% of Robinhood.

Bankman-Fried later denied reports of plans for the exchange to acquire the online broker. Such a scenario was countenanced by Bloomberg sources.

Earlier, Kraken CEO Jesse Powell said Kraken was studying the possibility of launching a service to trade traditional stocks.

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