UK trading app Freetrade disables orders to buy U.S. stocks

Commission-free trading app Freetrade said on Friday it had disabled buy orders for U.S. stocks amid a market frenzy that has seen shares of heavily shorted stocks like GameStop surge this week after being pushed on social media platforms.

The London-based startup said in a statement that the move was due to an unexpected decision from its foreign exchange provider and the provider’s bank to limit its trade volumes.

By: Kwamed2k

The company will allow users to sell U.S. stocks to exit existing positions, the statement said.