Interactive Brokers expands cryptocurrency trading

GREENWICH, Conn.–(BUSINESS WIRE)–Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today launched the ability for clients to access crypto trading 24/7 through an enhanced web application from Paxos Trust Company. Customers who choose to manage their crypto account funding themselves can pre-fund their crypto accounts with Paxos during regular US banking hours and then use Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Trade cash (BCH). , plus extra coins 24/7.

“This gives our clients an easy and affordable way to access crypto markets anytime,” said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. “With the added ability to pre-fund accounts, our clients have greater flexibility to respond to market events and manage their cryptocurrency risk.”

With the new features, customers can:

  • Trade crypto 24/7 in their Paxos account

  • Trade additional cryptocurrencies offered by Paxos including BTC, ETH, LTC, BCH and several others

  • Hold both USD and crypto in their Paxos account

  • Access additional order types in your Paxos account

While other crypto exchanges and brokers charge trading fees of up to 2.00% of trade value or more, Interactive Brokers clients who trade with Paxos pay low crypto commissions of just 0.12% – 0.18% of trade value , based on monthly volume, with a $1.75 minimum per order. Furthermore, there are no additional spreads, surcharges or custody fees.

The new crypto features are available to US residents and Interactive Brokers customers in over 100 countries with individual, joint and certain types of institutional accounts. Additionally, Interactive Brokers clients can trade crypto alongside stocks, options, futures, bonds and funds on a single 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 lightweight mobile app for global stock trading, as well as the Paxos web application.

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About Interactive Brokers Group, Inc.:

Interactive Brokers Group affiliates provide customers worldwide with 24/7 automated trade settlement and custody of securities, commodities and foreign exchange in over 150 markets in multiple countries and currencies from a single unified platform. We serve individual investors, hedge funds, proprietary trading groups, financial advisers and introducing brokers. Our four decades of focus on technology and automation has enabled us to provide our clients with a uniquely 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 at low or no cost to position them to achieve superior investment returns. For the fifth consecutive year, Barron’s Interactive ranked Brokers #1 in its Best Online Brokers Review dated March 25, 2022 with 5 stars out of 5.

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