Interactive Brokers Launches Crypto Trading Through Paxos

[ad_1]

Interactive Brokers Group users in the United States will be able to trade bitcoin, Ethereum, litecoin, and bitcoin cash.

Interactive Brokers Group has launched digital asset trading through Paxos Trust Company, the online retail brokerage company said on Monday.

Customers in the United States can now trade and hold bitcoin, Ethereum, litecoin, and bitcoin cash in addition to traditional stocks, bonds, and exchange-traded funds.

As financial markets evolve, sophisticated individual and institutional investors are increasingly looking for allocations to digital currencies as a way to achieve their financial goals, Milan Galik, CEO of Interactive Brokers, said in a statement.

The commission fee will be between 0.12% and 0.18% of the trade value, depending on the monthly volume. The minimum order will be $ 1.75 and there are no spreads, markups or additional custodial fees, Interactive Brokers said.

Interactive Brokers Chairman Thomas Peterffy revealed in June that the platform will launch cryptocurrency trading in the coming months, citing growing investor demand for exposure to the asset class.

Interactive Brokers joins Robinhood to provide the service. Competitors Fidelity and Charles Schwab currently offer exposure to crypto futures, but not to the assets themselves.

Interactive Brokers remains committed to providing a global product portfolio, leading technology and superior pricing, said Steven Sanders, executive vice president of marketing and product development at Interactive Brokers, in a statement. Adding access to cryptocurrency trading also meets our mission to provide active traders and sophisticated investors with powerful trading tools and a wide range of products at low cost.

Are you a UK or European reader who can’t get enough investor-focused content on digital assets? Join us in London on November 15-16 for the Digital Asset Summit (DAS) London. Use the ARTICLE code for 75 off your ticket. Buy It Now.

Casey wagner

Blockworks

Journalist

Casey Wagner is a New York-based business journalist who covers digital assets and macroeconomics. Prior to joining Blockworks, she reported on the markets at Bloomberg News. She graduated from the University of Virginia in Media Studies.

[ad_2]