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StockTwits CEO Talks Social Media, Commission-Free Trading

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StockTwits CEO Talks Social Media, Commission-Free Trading

StockTwits is a real-time financial communication and media network. The firm recently entered the brokerage business with a commission-free trading platform, Trade App.

CEO Ian Rosen spoke about democratizing investing for investors of all skill levels Nov. 19 at the Benzinga Global Fintech Awards

The website's community of over 2 million members come to the platform for enjoyment and education, he said. 

“This is the place to celebrate the wins, commiserate the losses and learn from each other.”

After observing a lack of meaningful and simple solutions for executing trades, StockTwits developed a trading app, Rosen said. 

"We [saw] companies that were basically giving extremely sophisticated tools for free, to anyone, and not really giving any education on how to use them," he said. “It’s the equivalent of handing a flamethrower to an 8-year-old.”

Investors can easily execute on valuable insights shared within the StockTwits community, the CEO said. 

The following is included in the Trade App:

  • Social networking and sharing of trade ideas
  • Visual learning through Tradecasting feature
  • Commission-free and fractional trading

Trade App Going Forward: Learn, Evolve, Contribute

Rosen said offering a free medium for investors to execute on exchanged ideas increases awareness and market participation.

“Buying and selling stocks should not involve a transaction fee, because that limits your ability to learn things. [This] is how we, or other companies, can engage the community.”

StockTwits is aiming to improve upon its content through an emphasis on engagement, Rosen said.

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Benzinga CEO Jason Raznick, left, and StockTwits CEO Ian Rosen onstage at the Benzinga Global Fintech Awards Nov. 19 in New York City. Photo by Mandar Parab. 

Posted-In: Global Fintech Awards Ian Rosen stocktwits TradeAppFintech News Events Best of Benzinga

 

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