• 23 September, 2021 5:38 am

Interactive Brokers launches cryptocurrency buying and selling

NEW YORK (Reuters) – Interactive Brokers Group on Monday stated it launched low-fee cryptocurrency buying and selling on its platform, making it the most recent on-line retail brokerage so as to add digital belongings to its choices.

U.S. shoppers of the brokerage will now have the ability to commerce and custody bitcoin, ethereum, litecoin and bitcoin money alongside shares, choices, futures, bonds, mutual funds and exchange-traded funds, the corporate stated.

“As monetary markets evolve, subtle particular person and institutional traders are more and more in search of out allocations to digital currencies as a way of reaching their monetary aims,” stated Chief Govt Officer Milan Galik.

Chairman Thomas Peterffy stated in June that Interactive Brokers, which caters to energetic merchants and complex traders, would launch buying and selling in cryptocurrencies by the tip of the summer time because the nascent asset class turns into extra mainstream.

Different brokers, together with Robinhood Markets Inc and TradeStation additionally present cryptocurrency buying and selling, whereas Charles Schwab Corp and Constancy at present supply entry to bitcoin futures.

Crypto-trading commissions at Interactive Brokers will probably be 0.12% to 0.18% of commerce worth, relying on month-to-month quantity, with no added spreads, markups, or custody charges, the New York-based firm stated.

Interactive Brokers stated it partnered with Paxos Belief Firm, a regulated supplier of cryptocurrency providers that additionally works with firms like PayPal on digital asset buying and selling, to allow the brand new service.

(Reporting by John McCrank; Enhancing by Marguerita Choy)