Digital Assets: Interactive Brokers Offers Low-Fee Crypto Trading

September 15, 2021 | Digital Assets, News

US clients of Interactive Brokers (IB) can trade bitcoin, ethereum, litecoin and bitcoin cash.

Global brokerage Interactive Brokers (NASDAQ: IBKR) anounced earlier this week the launch of crypto trading via Paxos Trust Company, a regulated blockchain infrastructure platform. US residents can therefore trade cryptos such as bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BCH) along with other assets including stocks, ETFs, futures, options, and bonds from a single IB screen. (BusinessWire)

Low commissions

Interactive Brokers (IB) offers crypto trading with Paxos at low commissions. These range from 0.12% – 0.18% of trade value, depending on monthly volume, with a USD 1.75 minimum per order. IB does not also impose any spreads or markups, nor charge custody fees.

In addition, clients benefit from centralized cash management of their various assets including cryptos.

Crypto trading is initially offered within the US, but IB intends to make it available to clients in other parts of the world.

Growing investor demand for cryptos

“As financial markets evolve, sophisticated individual and institutional investors are increasingly seeking out allocations to digital currencies as a means of achieving their financial objectives,” said Milan Galik, Chief Executive Officer of Interactive Brokers. “In giving our clients access to cryptocurrency trading, we recognize the need to meet the growing investor demand to trade cryptocurrency alongside other asset classes in a convenient and low-cost way.”

“Adding access to cryptocurrency trading further delivers on our mission to provide active traders and sophisticated investors with powerful trading tools and a wide range of products at low cost,” said Steven Sanders, EVP of Marketing and Product Development at Interactive Brokers.

“Consumer interest in accessing digital assets through trusted intermediaries is driving a shift in the financial industry,” said Charles Cascarilla, CEO and Co-Founder of Paxos. “Paxos provides the regulated blockchain infrastructure to ensure enterprises can enable crypto safely and with reduced risk.”

Related Story: Paxos Receives $2.4B Valuation With $300M Series D Funding

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AI To Help Survey For Endangered Bats Under Bridges
September 22, 2021     Artificial Intelligence, News

Hundreds of thousands of bats from about 40 species routinely nest under US bridges, and many of them are endangered or threatened. Transportation departments must mandatorily check for them before…
Artificial Intelligence: AI Cameras In Amazon Delivery Vehicles Unfairly Penalize Drivers
September 21, 2021     Artificial Intelligence, News

Amazon (NASDAQ: AMZN) installed AI-powered cameras in its delivery fleet in February as an investment in safety technology across its operations. The company said at the time the system would…
FinTech: Assets, A New Product From Wise, Lets You Spend From Your Stocks Portfolio
September 21, 2021     FinTech, News

Wise (LON: WISE), the UK payments fintech previously known as TransferWise, has taken its first steps into investing solutions. Its Assets product allows users to invest in stocks but also…
Alternative Investments/ESG: ETFMG Launches Maritime Decarbonization ETF

ETF Managers Group, which created the highly successful Breakwave Dry Bulk Shipping ETF (NYSE: BDRY), has launched a sister ETF – the ETFMG Breakwave Sea Decarbonization Tech ETF (BSEA). The…