StockTwits to Unveil Free Trading App in Q2

StockTwits, the vibrant community hub for traders, is introducing a free trading app to empower its users.

With over 2 million active members, StockTwits—a dynamic social network for investors and traders—plans to roll out its complimentary stock trading app in summer 2019, leveraging its highly engaged audience. CEO Ian Rosen revealed that the Financial Industry Regulatory Authority (FINRA) granted approval in late February, and the app is currently undergoing testing with employees, friends, and family.

Rosen emphasizes, "Our users are enthusiastic and enjoy the process. Investing should be approachable and exciting." The platform's demographic skews young, with roughly 80% under 45 years old, and users typically spend 50-60 minutes daily on the site. Previously connected to brokers like Robinhood, TD Ameritrade, and E*TRADE via APIs, StockTwits has discontinued these links to focus on its own app launch.

A unique aspect of StockTwits is its established community prior to launching a trading platform. Unlike new brokerages that build a trading site first and then seek to attract users, StockTwits already boasts a strong user base and is now introducing its app. Rosen notes, "While trading capabilities were once the core of brokerages, today, the true value lies in fostering meaningful customer relationships."

A standout feature is the Heat Map, which visualizes trending discussions and stock price movements. The size of each block reflects the number of users talking about a stock, while the color indicates price changes over a selected period. Users can click on any block to explore individual stocks and join conversations.

The TradeApp processes trades through Apex Clearing, a top clearing firm in the U.S. It supports fractional share trading—a novel feature for Apex—that could pave the way for other brokers using their services to offer fractional shares. Apex also clears trades for Ally Invest, tastyworks, SogoTrade, TradingBlock, and robo-advisors like M1 Finance, Betterment, and SoFi Automated Investing.

Rosen aims to make investing accessible by offering fractional shares, enabling users with smaller portfolios to invest in high-priced stocks such as Amazon, Apple, Netflix, and Facebook.

While trades execute commission-free, fees apply for wire transfers, check issuance, paper statements, and $75 for outgoing account transfers. Initially, TradeApp will support cash accounts only, with plans to introduce margin accounts in the future.

As the app approaches the end of its beta phase, a comprehensive hands-on review will be available.

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