Stocktwits, a New York-based social trading platform, has added equities trading to its platform.
The company, earlier in February, introduced crypto trading on its trading platform in partnership with the cryptocurrency exchange, FTX US.
Stocktwits was originally created as a social network for investors and traders.
With the new addition, users can now purchase stocks directly within Stocktwits through ST Invest LLC, the company's registered broker-dealer.
Stocktwits announced the launch of equities trading on its platform on Tuesday in a press statement seen by Finance Magnates.
The network explained that the addition will expand Stocktwits’ existing suite of trade execution capabilities.
This will birth a complete awareness-to-execution user experience, Stocktwits said.
Rishi Khanna, the Chief Executive Officer of Stocktwits, noted that the addition is a move "towards bringing a full suite of execution capabilities.”
Khanna pointed out that the Stocktwits community has been following the equities market dedicatedly since it was established in 2008.
“We’re excited to give our users a complete experience within the platform where they’ve formed their investing identity,” the CEO said.
‘More Value to Users’
The Stocktwits platform was created to host discussions on stocks.
However, the company now boasts over six million registered users.
Stocktwits says it now reaches more than five million users monthly.
The trading platform believes that the new equities trading capability will enable it to attend to increased investors’ interest in the equities market.
The company explained: “Individual investors who were introduced to investing during the bull market are now able to actively trade and build their investing identity directly within the platform.
“With execution, quality data and stronger context surrounding stocks and coins, Stocktwits is able to deliver more value to users.”
Stocktwits’ ST Invest is a member of the Financial Industry Regulatory Authority (FINRA), a private American self-regulatory organization.
Furthermore, the limited liability company is a member of the Securities Investor Protection Corporation (SPIC), a US corporation that seeks to expedite the recovery and return of missing customer cash and assets when a failed investment firm is liquidated.
