Digital Assets: Interactive Brokers Offers Low-Fee Crypto Trading
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)
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
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