Inside TradeZero with Orion Szathmary

Inside TradeZero??

Meet the people behind TradeZero, gain insight into the latest industry happenings and learn how we create our products and services with a customer-first focus.??

Today's Q & A is with Orion Szathmary, CEO of TradeZero Canada.?

TradeZero has recently expanded to Canada: What excites you about this??

I'm absolutely thrilled about TradeZero’s expansion into Canada! We're all about creating value for the active trader community, and that’s a vibrant but under-served group here in Canada, especially those who have a penchant for short selling. We want to bring them the attention and support they truly deserve. We're also shaking things up by introducing a low-to-no cost trading commission model that will be a game-changer for active traders. We want to make sure they can keep more of their hard-earned profits. And lastly, our amazing technology is tailor-made for active traders. Our mobile and desktop apps, complete with nifty hotkeys, are designed to make their trading experience seamless and efficient (yes, a mobile app with hotkeys – it’s possible, check it out!). I can't wait to see how these initiatives will revolutionize the trading landscape for our clients in Canada!?

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You’re still fairly new to the role so can you tell us a little about your background??

Absolutely! My journey in the finance industry spans over 15 years and almost all of it in the online brokerage space in Canada. I've had the privilege of working with a range of brokerages, from the industry giants to smaller firms catering to credit union clients. Interestingly, my very first venture in finance was at a proprietary trading shop where I spent my days trading in front of a computer. It was an exhilarating experience that allowed me to truly immerse myself in the world of active trading. Now, leading TradeZero Canada feels like a wonderful homecoming, a chance to return to my roots and bring all that experience and passion to the forefront. It's an incredible opportunity, and I couldn't be more excited about the journey ahead with TradeZero.?

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Why do you think that Canadians like to trade the U.S markets instead of or as well as their own markets??

The truth is Canadians have a strong tendency for 'home country bias' in their trading preferences. When we look at the numbers, Canada represents just 3% of global market capitalization, whereas the US represents over 50%. The US markets' significant trading volume and market capitalization make them really liquid with tight, tight spreads, which can be crucial for active equity and options traders. So, focusing on the US markets aligns well with our emphasis on hyperactive equity and options traders and, it gives them a chance to get exposure to opportunities beyond Canada.?

That said, I’d love the chance to add Canadian market access to our offering. We’ve got a vibrant and growing tech sector and some of the best Banks and Energy companies in the World.?

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What is TradeZero offering Canadian customers that they can’t get from a competing Canadian broker??

Our killer feature at TradeZero is access to locate required and pre-borrow stocks which is a game-changer for short sellers. Before TradeZero entered Canada, finding short inventory for certain US stocks not on the easy-to-borrow list was extremely challenging. Picture this: as an active trader, you spend money on scanning tools and trading idea newsletters, only to be blocked by your broker due to insufficient inventory when you're ready to execute a short sell. TradeZero solves this problem and offers access to locates, which is a major draw for active traders in Canada. Add to that our low-to-no commission trading and awesome trading apps built by active traders for active traders, and you have something truly special - something you can only get at TradeZero!?

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After the recent banking crises more traders are becoming aware of short selling: do you think there’s enough awareness of short selling as a trading style in Canada??

I think short selling definitely gained some visibility in recent years, especially during events like the meme stock craze in 2020 when it became a daily buzzword. That said, it can be a risky strategy that requires some sophistication and a specific risk appetite, so it's definitely not for everyone. So, in terms of “general awareness”, I’d say that those who are sophisticated enough to short sell tend to be aware of it, yes. However, when it comes to the awareness within Canada's short-selling active trader community TradeZero is now in Canada and has the ability to empower them with access to previously unavailable or extremely scarce locate required and pre-borrow stocks, there's definitely room for improvement! That's why I'm excited about my role and the opportunity to spread the word about TradeZero’s offerings.?

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