Stocktwits launches equities trading

Rick Steves

The social platform turned trading platform has announced the expansion of the company’s existing suite of trade execution capabilities with the launch of equities trading. 

The New York-based firm was originally a social platform for investors and traders across all asset classes including stocks, crypto, and other emerging investments, and finally moved into the brokerage space in February 2022, when it launched crypto trading.

Now, with equities trading, Stocktwits offers a complete user journey, from awareness to execution, allowing users to purchase stocks directly within the Stocktwits platform through its wholly owned subsidiary and SEC registered Broker-Dealer, ST Invest, LLC.

Rishi Khanna, Chief Executive Officer of Stocktwits, said: “The Stocktwits community has been avidly following the equities market since our inception in 2008. With the addition of equities trading to our existing crypto trading product, the Stocktwits platform continues towards bringing a full suite of execution capabilities. We’re excited to give our users a complete experience within the platform where they’ve formed their investing identity.”

Stocktwits plans to expand to more asset classes

Stocktwits has more than 6 million registered users and reaches over 5 million users on the platform monthly. The company plans to build new tools and data, expand execution functions to even more asset classes, and continue fostering a strong community.

Two of the six million registered users joined Stoctwits over the past two years. The firm has recently raised $30 million in a fundraising round. Alameda Research Ventures, owned by Sam Bankman-Fried, who also owns FTX, is one of the investors.

This has likely facilitated the decision to bring FTX to the table as the US-based cryptocurrency exchange is set to provide the infrastructure for Stocktwits, with the same tiered fee structure that can be found on the FTX platform.

Stocktwits’ crypto trading services are powered by FTX. The firm is also prioritizing access to quality data for alternative assets that previously were not available to the average user.

Crypto was the first asset class to become available on the social trading platform not only because retail investors are increasingly interested in the emerging asset class but also because there are fewer regulatory hurdles to offering crypto trading as opposed to equities.

Equities trading at Stocktwits is now a reality and the firm plans to expand further into more asset classes.

Read this next

Retail FX

Ironbeam becomes CME clearing member and launches MT5

“The direct clearing aspect along with our low-latency proprietary trading tools and technology solutions make Ironbeam the ideal trading destination.”

Institutional FX

Top 0.07%: oneZero makes it to Inc. 5000 of fastest growing companies in America

oneZero started out by serving the foreign exchange trading community, developing and executing technology that could scale with the growth of the FX market.

Industry News

CFTC wins case against broker for secretly taking other side of client orders in block trades

“As we said at the outset of this case, the illegal use of inside or confidential information undermines confidence in markets and will not be tolerated.”

Technology

BankiFi raises $4.8m to bring embedded banking platform to North America

“Our mission is to make all aspects of cash management and payments easier for SMBs everywhere, and this investment is another huge step to making that a reality.”

Executive Moves

Shieldpay hires ex-Payoneer Chris Andrews as Head of Sales

“We’ll be expanding our position in existing markets and accelerating growth into new verticals, whilst building on our direct and indirect channels.”

Digital Assets

Crypto.com secures preliminary approval to operate in Canada

Crypto.com, one of the longest-established crypto platforms, has become the first digital asset platform to sign a Pre-‘Registration Undertaking’ with the Ontario Securities Commission (OSC) in Canada.

Retail FX

CySEC hits IC Markets One with regulatory warning

The Cyprus Securities and Exchange Commission has once again stepped up its fight against unauthorized brokers.

Uncategorized

XTAGE now offers bitcoin and ether trading to 3.6M Brazilian investors

Brazilian financial services giant XP has officially launched its crypto trading platform XTAGE, which was built on major American stock exchange Nasdaq’s trading technology.

Institutional FX

FX volume drops 7pct at CLS Group in July 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in July.

<