New York-based online broker dealer has signed Apex Clearing, which offers clearing and custody services for robo advisors, to enhance its brokerage functions such as opening accounts and onboarding, moving money, deposits and withdrawals.
The company says its collaboration with Apex will also enhance the execution of options contracts. With the rise of Robinhood, TradeZero has decided earlier this year to offer commission-free stock trading.
Apex Clearing also opens the door for TradeZero, if interested, to include the crypto assets into their clients’ portfolios alongside traditional brokerage assets, which has been disjointed in the past. From a legal and regulatory standpoint, the platform will offer for clients in most states.
“Apex is the go-to name in clearing for movers and shakers in the fintech space, and we are thrilled to partner with this forward-thinking brand. With Apex on board as our custodian, we can streamline our administrative processes and provide even faster service for our valued clients,” said Mike Haupt, CEO of TradeZero America.
Apex Clearing is also offering a cryptocurrency platform that allows broker-dealers and investment platforms to offer crypto investing to their clients. The new platform was developed in partnership with the company’s , dubbed Apex Crypto.
The fintech company allows clients to open cryptocurrency accounts to buy and trade tokens. In their initial launch, Apex said Bitcoin, Bitcoin Cash, Ethereum, and Litecoin would be the first cryptocurrencies it would offer support for, with plans to add more coins based on demand.
The business, which was , is also teaming up with US discount broker-dealer SogoTrade to introduce customized solutions that allow investors access to quotes, market data, and pricing through Apex’s proprietary technology. The firm claims its crypto platform will allow firms that are affiliated with Apex Clearing to offer crypto assets to more than 5 million current account holders.
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