X is expanding the brokerage-routing model it first tested with eToro in 2023, turning Cashtag pages into a distribution channel for multiple trading platforms. US users can now move from conversations about an asset to Interactive Brokers, Moomoo, Coinbase, Kraken or Gemini.Orders are placed on the selected platform, which also handles the account and custody. X acts as the referral channel rather than executing trades or holding client assets.X Expands an Earlier eToro Model The program expands a model first used in 2023, when Twitter, now X, added external trading links to Cashtag pages through a partnership with eToro. Finance Magnates reported that the original agreement was primarily a marketing arrangement. Users completed onboarding and KYC with eToro, while Twitter did not receive their client information. The new program increases the number of destinations from one to five and adds both securities brokers and cryptocurrency exchanges. Trading Platforms Target Cashtag Users The program directs users to participating platforms while they are already viewing a particular asset. However, the partners differ in how they handle the integration and in the products they cover.Interactive Brokers is using the integration directly for client acquisition. The broker is offering eligible new US clients $100 if they open and fund a qualifying account through Cashtags.Existing clients can move from tickers such as $AAPL or $BTC to the corresponding IBKR research and trading workflow, according to the broker. Kraken said its integration routes users to its mobile or web platform and supports Cashtags for nearly 2,500 assets across its centralised and decentralised exchange offerings. Moomoo provides a similar link from supported Cashtags to its research and trading platform. Stocktwits Uses a Similar Referral Model The connection between social discussion and external trading is not unique to X. Stocktwits, a social network built specifically for investors and traders, introduced a Trade button that redirects users to eToro for supported assets in 2025. That partnership also works in the opposite direction: eToro incorporates Stocktwits content into relevant asset pages and allows its users to share posts directly to the investing network. X applies a similar referral model to a broader social platform rather than a specialised investing community. Its program also offers several trading destinations, but the functionality announced so far focuses on sending users from Cashtag pages to external providers. This leaves the commercial terms as the main unresolved part of X’s model. The company has not disclosed whether partners pay for clicks, funded accounts or trading activity, what user data may be shared, or how providers are selected and ranked for individual assets.This article was written by Tanya Chepkova at www.financemagnates.com.