StockTwits, a real-time financial communication and media network, has entered into the brokerage business with a commission-free trading platform, TradeApp.
The development comes after a series of incumbent brokers eliminated commissions from their pricing models, drumming up interest and liquidity in a market filled with pessimism and uncertainty.
“With 150,000 messages sent every day on the platform, StockTwits prides itself on understanding the retail investor and trader. For 10 years we’ve had a front row seat to the roller coaster of emotions the activer investor goes through, from the highs to the lows,” CEO Ian Rosen said in a press release.
“We built TradeApp to create a better experience for investors and traders of all levels. Self-directed doesn’t have to mean self-destructive, and we believe the key to success likes in not relying solely on yourself."
StockTwits first announced the app in April.
The TradeApp will be offered by ST Invest LLC, a subsidiary of StockTwits, a member of the Financial Industry Regulatory Authority, and registered broker-dealer. The platform will unlock commission-free investments in the U.S. stock market, with the ability to purchase shares fractionally.
Additionally, the app takes an innovative approach to keeping people in the markets: the platform allows traders to rationalize their trades, helping bolster morale and support for other traders within the community.
The TradeApp is expected to launch first to StockTwits’ 2 million members, with plans to roll out the platform to non-members later.
You can learn more about dozens of companies looking to take over the fintech space at the Benzinga Global Fintech Awards in New York City on Nov. 19.
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