TradeStation Group, the well-known US subsidiary of Japanese financial services behemoth Monex Group, has broadcasted the news about the launch of its highly anticipated cryptocurrency brokerage solution named TradeStation Crypto.
According to the latest piece of information, TradeStation aspires to employ its brokerage arena expertise and knowledge in overcoming the shortcomings and weaknesses that exist in the present cryptocurrency domain. Earlier, Monex filed a money service business registration with each state regulatory body. A money transmittal license or MTL renders a platform with an opportunity to facilitate the trading of both crypto-to-crypto and fiat-to-crypto pairs.
Having been designed to cater to the requirements of crypto traders, TradeStation Crypto creates a joint hub of liquidity sources using global collaborations that trigger better price discoveries along with an assurance of transparency. The platform claims to aid traders in getting away with long financial trades, which are a regular issue on traditional exchanges. Unlike other trading platforms, TradeStation Crypto avoids charging fees for instant large volume trading activities.
Interestingly, the brokerage platform is dedicated to offering lucrative services to institutional investors. Along with personalized support, TradeStation Crypto serves as an unprecedented solution for market data aggregation, execution strategy, and back-testing environment, advanced execution algos, smart order routing, etc.
The reports affirmed that in its initial phase, TradeStation Crypto would lend support to only five globally reputed cryptocurrencies namely:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
The platform reassured its customers in ‘approved states and countries’ will be able to indulge in trading of other digital currencies as well.
John Bartleman, the honorable President of TradeStation Group, stated that “As the reliable brokerage brand for active and serious self-directed online traders since 2001, we now seek to extend the same kind of benefits to TradeStation Crypto customers under one umbrella.”
Monex Group is a well-known firm that has a diverse portfolio of brokerages coming from different parts of the world. The firm was rumored to make a banging entry in the cryptocurrency domain soon. Last year, Monex established its native cryptocurrencies unit, which was modeled to study the opportunities and drawbacks of the digital currency sector.
After aiding Coincheck for surviving in the business, Monex Group revealed its intentions to grab a strong position in the US cryptocurrency market space by chalking out an offering dedicated towards institutional investors.