TradeStation launches in Puerto Rico as crypto fans flocking to the island
TradeStation Crypto, the digital asset-focused subsidiary of Monex Group’s TradeStation Group, today announced the soft rollout of its services in Puerto Rico. Trading will launch imminently, the company indicated.
Celebrating the new launch, TradeStation awards new customers a $10 bonus in cryptocurrency, but they can qualify for higher bounties if they deposit at least $5,000. In addition, customers can own cryptocurrency as an alternative investment in a TradeStation Individual Retirement Account (IRA).
Dozens of crypto entrepreneurs and firms have been heading en masse to Puerto Rico as the US territory adopts crypto-friendly policies, including huge tax breaks. In particular, US citizens can keep ahold of their American passports while at the same time avoid paying any taxes on capital gains.
“We are excited to be expanding into Puerto Rico as adoption of digital assets continues to grow. We believe that Puerto Rico has a strong reputation supporting crypto, and we’re looking forward to being part of the momentum surrounding their crypto community,” said James Putra, Vice President, Product Strategy at TradeStation Crypto. “We feel TradeStation offers clients the best of both worlds, a trusted brand that’s been serving traders for over 30-years combined with innovative products and technology to access the crypto market.”
TradeStation leverages brokerage expertise of Monex
Tailor-made for crypto traders, TradeStation uses global integrations to create a wide pool of liquidity sources that enable better price discovery and transparency. The company further promotes its crypto desk as helping traders avoid lengthy transactions on traditional exchanges, as well as avoid fees charged by other platforms for instant large volume trades.
The crypto-focused offshoot leverages the brokerage industry expertise of its parent, Japanese financial services giant Monex Group, to address what it perceives to be key concerns and certain weaknesses in the current cryptocurrency ecosystem.
TradeStation Crypto also provides a dedicated platform to facilitate cryptocurrency trading for institutional investors. In addition to personalized support, the offering secures a one-stop platform for market data aggregation, execution strategy, and back-testing environment, as well as smart order routing and advanced execution algos.
Earlier this month, TradeStation reported mixed trading volumes for February 2022 even as political events globally maintained investors’ interest in financial markets. According to the investor update published by the company, the number of daily average revenue trades (DARTs), a standard industry metric, were 242,846 last month. This figure was -16 percent lower from a year earlier, a sign that trades continue to meaningfully deaccelerate despite volatility triggered by Russia’s full-scale invasion of Ukraine.
