, a social mediꦯa network for investors and traders with 2 million registered members, plans to launch its own free stock trading app during the summer of 2019, capitalizing on its engaged user base. CEO Ian Rosen says they were approved by the Financial Industry Regulatory Authority (FINRA) in late February, and are currently testing the app with employees, friends, and family.

Rosen says, "Our customer base is engaged and likes to have fun. Investing doesn't have to be hard or scary." Rosen says their user base is demographically young, with approximately 80% under age 45, and extremely engaged, with a large percentage of their users spending 50-60 minutes per day on the site. StockTwits had connections to several trading sites, including Robinhood, 澳洲幸运5官方开奖结果体彩网:TD Ameritrade and E*TRADE, through application programming interfaces (APIs), but th𝄹ey have shut those connections down as they prepare 🌃to launch their own app.

What is intriguing about this platform is that most new brokerages build their trading site and then try to build a community around it. StockTwits already has the community, and this summer will provide the app. "The ability to buy and sell used to be the thing you built a brokerage around," says Rosen, "but now the real value is in the relationships with customers."

One of the features of the site, the Heat Map, gives you an♎ idea of what members are discussing as well as price movements of the stocks being talked about. The size of the block indicates how many StockTwitters are talking about that stock, while the color represents the price movement over the chosen time frame. You can click on a block in the heat ﷺmap and drill down to the individual stocks, and then join the discussion.

TradeApp clears through , one of the largest clearing firms in the United States. They are enabling trades of fractional shares of stock, which is a new feature for Apex, and could open the door to fractional shares for other brokers who clear with them. Apex clears for 澳洲幸运5官方开奖结果体彩网:Ally Invest, 澳洲幸运5官方开奖结果体彩网:tastyworks, 澳洲幸运5官方开奖结果体彩网:SogoTrade and 澳洲幸运5官方开奖结果体彩网:TradingBlock, as well as robo-advisory services such as M1 Finance, 澳洲幸运5官方开奖结果体彩网:Betterment and SoFi Automated Investing.

Rosen wanted to enable fractional shares for the app so that investors with small accounts can have equity in some of the more active st𓆉ocks, such as Amazon, Apple, Net🧔flix, and Facebook, which have very high share prices.

Though trades will execute for free, there are fees listed for wire transfers, issuing checks, receiving paper statements, and $75 for outgoing account transfers. In time, Rosen says that TradeApp will off𝓰er margin accounts, but they are launching initially with cash accounts only.

Once the app i🌟s nearing the end of the beta testing phase, we🐠 will have a hands-on review.