Interactive Brokers expands cryptocurrency trading
GREENWICH, Conn.–(BUSINESS WIRE)–Interactive Brokers (Nasdaq: IBKR), an automated global electronic brokerage, today introduced the ability for clients to access 24/7 crypto trading through an enhanced web-based application available from Paxos Trust Company. Customers who choose to self-manage their crypto account funding can pre-fund their crypto accounts at Paxos during regular US banking hours and then trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), plus additional coins around the clock.
“This provides our clients with an easy and inexpensive way to access the crypto markets at any time,” said Steve Sanders, executive vice president of marketing and product development at Interactive Brokers. “With the added ability to pre-fund accounts, our clients have greater flexibility to react to market events and manage their cryptocurrency exposure.”
The new features allow customers to:
Trade crypto 24/7 on their Paxos account
Trade additional cryptocurrencies offered by Paxos, including BTC, ETH, LTC, BCH, plus several others
Hold both USD and crypto in their Paxos account
Access additional order types in their Paxos account
While other crypto exchanges and brokers charge trading fees of up to 2.00% of the trade value or more, Interactive Brokers clients who trade with Paxos pay low crypto commissions of just $0. 12% to 0.18% of trade value, depending on monthly volume, with $1.75. minimum per order. Additionally, there are no spreads, markups or additional custody fees.
The new crypto features are available to US residents and Interactive Brokers clients in over 100 countries with individual or joint accounts, as well as certain types of institutional accounts. Additionally, Interactive Brokers clients can trade crypto with stocks, options, futures, bonds, and funds in one unified platform. Cryptocurrency trading is available through the company’s trading platforms, including Trader Workstation, Client Portal, IBKR Mobile, and IBKR GlobalTrader, IBKR’s new simple mobile app for global stock trading, as well as through the Paxos web app.
For more information, visit ibkr.com/crypto.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group subsidiaries provide automated trade execution and custody of securities, commodities and currencies around the clock in over 150 markets in many countries and currencies, from a unified platform unique for customers all over the world. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a single, sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution pricing and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to obtain higher returns on investments. For the fifth year in a row, Barron’s ranked Interactive Brokers #1 with 5 out of 5 stars in its March 25, 2022 Top Online Brokers Review.