TradeStation customers can now own cryptocurrency as an alternative investment in their tax-deferred retirement accounts.
What Happened: TradeStation is a fintech specializing in brokerage services and trading technology. The company is a subsidiary of Monex Group (OTC: MNXBY) and was founded initially under the name Omega Research, prior to transforming into a self-clearing online securities brokerage.
As part of a vision to provide tailored brokerage solutions for self-directed traders, TradeStation has expanded its cryptocurrency platform capabilities.
Now, customers can own cryptocurrency as an alternative investment in tax-deferred Self-Directed Individual Retirement Arrangement (IRAs) accounts.
“With the rollout of this enhancement to TradeStation’s Self-Directed IRAs we are excited to offer customers the ability to own crypto assets as they plan for retirement,” said James Putra, Vice President of Product Strategy at TradeStation Crypto, a subsidiary of TradeStation Group.
Why It Matters: TradeStation Crypto says this is the first crypto offering which uses a true online brokerage model that self-directed traders have come to expect for other asset classes.
Unlike its competitors, TradeStation aggregates multiple pools of liquidity, providing users a consolidated market data feed combined with an intelligent order-routing system.
To put it simply, users are afforded better transparency and execution.
Putra says, “Crypto assets and blockchain remain one of the most disruptive innovations within the financial industry. We are proud to showcase our dedication to providing our customers expanded product and service offerings with the addition of owning crypto in their IRAs.”
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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