While Major Online Brokers Were Down, LevelX.com Was Up
Volatility in particular stocks combined with social media attention caused many online brokerages to crash and modify trading rules, while LevelX was online and did not suffer any service disruptions. Customers were able to buy puts and calls on all equities and short stock, buy stock, and other operations.
OLD BRIDGE, N.J., February 1, 2021 (Newswire.com) - www.levelx.com LevelX Capital LLC "LevelX" is a broker-dealer based in Old Bridge, NJ offering iOS / Android phone App trading and web trader on US stocks & ETFs. A straightforward self-directed platform to access the US Financial markets with Stocks and ETFs, all commission free*. There is no account minimum for the self-directed program. LevelX welcomes the opportunity to serve a new growing demographic of retail investors.
A new generation of traders has caused unprecedented volatility in stocks they like, as reported on the Reddit thread WallStreetBets. As reported by Market Watch, the flurry of activity caused many brokerages to fail, as explained by Market Watch:
Disruptions were reported at several major retail brokerages Wednesday morning, following the speculative surge of interest in companies, as well as a big drop in the major stock-market indexes including the S&P 500 SPX, -1.56%. The website Down detector reported disruptions to several online brokers, as well as the Reddit message board that has triggered much of the activity.
LevelX was up the entire time, received no downtime or temporary service issues. Customers were able to buy puts and calls on all equities and short the stock, buy the stock, and other operations. "Traders were able to trade the volatile markets we saw yesterday, on the LevelX app and on our Pro Trader platform," said Christopher Infante, CEO of LevelX. "We have received a lot of new business from disgruntled traders looking for a broker who is up all the time, even when the market is volatile."
Strangely, there was also a massive internet outage across the East Coast yesterday, as reported by Verizon.
In the case of other online brokerages, this seems to be an ongoing issue, as these firms have struggled to provide necessary bandwidth for a growing customer base.
Will the situation bring attention to stock trading as a form of activism? Sustainable funds have used their dollars to further their causes for years, and it works. Sustainable funds invest in companies that adhere to certain environmental rules but make money at the same time.
Whatever is your opinion on stocks, whether you want to go long or short, LevelX wants to provide an equal opportunity for all investors, thus leveling the playing field. For accredited investors, LevelX offers Pre IPO opportunities, to invest in companies before the IPO (see the Pre IPO button on the LevelX homepage).
Visit www.levelx.com
Risk Disclosure
Trading of stocks and all other investment products involves substantial risk of loss and is not suitable for every investor. The value of stocks may fluctuate and as a result, clients may lose more than their original investment.
Private equity securities are speculative and illiquid and involves substantial risk of loss and is not suitable for every investor. The value of stocks may fluctuate and as a result, clients may lose more than their original investment.
*Commission Disclosure
Free trading of stocks refers to $0 commissions tor LevelX Financial LLC self-directed individual cash or margin brokerage accounts that trade U.S. listed securities via mobile devices or Web. Relevant SEC & FINRA fees may apply.
International Account will have a $3 per trade fee.
Broker managed accounts may be subject to a commission based on your brokers commission rate.
Source: LevelX Capital LLC
