When most of the major trading platforms are restricting the access to many volatile shares, Cypriot broker SquaredFinancial has freshly added all the popular and volatile stocks, giving traders unrestricted access to them.
The online forex and CFDs broker added seven new company stocks, which include GameStop, AMC Entertainment, Blackberry, American Airlines, Bed Bath & Beyond, Irobot Corp, and Clovis Oncology.
With the addition of highlighted stocks like GameStop and AMC Entertainment, the brokerage is clearly luring the retail traders who are heavily investing in the unusually pumped stocks, creating a short squeeze.
Many top trading platforms, including Robinhood and IG Group, have limited or even restricted trading of volatile stocks. Many have even stopped onboarding new traders following the frenzy. This created a backlash against these trading platforms.
Though GameStop stock prices went below $100 after Tuesday’s trading session, the stock is still highly pumped.
A Strategic Move to Onboard New Traders
“We have pushed to create a global market gateway giving all traders the same opportunity as institutional investors,” SquaredFinancial CEO, Husam Al Kurdi, said in a statement.
“So, following the high-profile activities of ‘Reddit’ traders, we don’t want to be in a position where we restrict access for anyone – this would go against everything we have been trying to achieve. It is this reason we will offer unrestricted access to trade GameStop.”
The new stocks have been added to the broker’s MT5 platform, the support for which was added only a week ago.
“The new strength shown by individual investors is very significant, but as with all trading we have to be sure that the necessary checks and balances are in place. Trading relies on strong regulation, but as long as the participants stay within the guidelines, we will always back innovation and change,” Al Kurdi added.
(Photo features Rony Nehme – Chief Market Analyst, via SquaredFinancial)