Interactive Brokers Group said on Monday that it has added low-cost Bitcoin trading on its platform, listing them in the latest online retail brokerage. The US clients of the brokerage firm will get to trade and keep Bitcoin, ETH, and BTH in addition to stocks, futures, mutual funds, and exchange funds.
Milan Galik, the CEO of Interactive Brokers, said that financial markets develop skilled individual and institutional investors looking for digital currency allocations to help them meet their financial goals.
As the new asset class grows more popular, Interactive Brokers, which caters to aggressive traders and sophisticated investors, will introduce cryptocurrency trading until the end of summer.
Cryptocurrency trading is also available through Robinhood Markets Inc and TradeStation, while Bitcoin futures are presently available through Charles Schwab Corp and Fidelity. According to the New York-based firm, interactive Brokers’ crypto-trading charges will range from 0.12 percent to 0.18 percent of the trade value, monthly volume, no additional spreads, markups, or custody costs.
To offer the new service, Interactive Brokers collaborated with Paxos Trust Company, a licensed cryptocurrency service provider that already works with firms like PayPal for digital trading assets.
Interactive Brokers Review
Interactive Brokers is the leading trading platform that offers various tools to assist investors in making complex deals. A business organization that provides brokerage services to these trades operates and manages the platform. In the 2020 worldwide evaluation, Interactive Brokers was named as a top online broker. Thanks to its trading-friendly features, the Interactive Brokers review from trading experts is quite positive.
One of the most important aspects determining its performance is the quality of its trading tools. Interactive Brokers has several tools that can assist in correctly following global investment trends.
Interactive Brokers provides a smooth computerized exchange for equities, stocks, and bonds. The IBKR platform allows users to trade across different categories from anywhere in the world. These services are available 24 hours a day, 7 days a week. Interactive Brokers is also known for having the most impactful and easy trading platform dashboard.
Interactive Brokers offers a low-cost option for trading. The IBKR Lite pricing model appeals to traders since it provides no fee for stock trading. Unlike other platforms with high costs, Interactive Brokers charges a modest price to its clients. As a result, it is a sought-after platform for global traders.