Cryptocurrency News

Interactive Brokers Expands Cryptocurrency Trading

Interactive Brokers Expands Cryptocurrency Trading
New Features Include 24/7 Trading and Additional Coins

Interactive Brokers an automated global electronic broker, introduced the ability for customers to access 24/7 crypto trading through an enhanced web application available from Paxos Trust Company. Clients who elect to manage the funding of their crypto account themselves can pre-fund their crypto accounts at Paxos during regular US banking hours and then trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), plus additional coins around the clock.

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“This gives our clients a simple and low-cost way to access crypto markets at any time,” 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 react to market events and manage their cryptocurrency exposure.”

The new features let clients:

  • Trade crypto 24/7 in their Paxos account
  • Trade additional cryptocurrencies offered by Paxos, including BTC, ETH, LTC, BCH, plus several others
  • Hold both USD and crypto in their Paxos account
  • Access additional order types in their Paxos account

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While other crypto exchanges and brokers charge trading fees as high as 2.00% of trade value or more, Interactive Brokers customers trading with Paxos pay low crypto commissions of just 0.12% – 0.18% of trade value, depending on monthly volume, with a USD 1.75 minimum per order. In addition, there are no added spreads, markups, or custody fees.

The new crypto features are available to US residents and clients of Interactive Brokers in over 100 countries with individual or joint accounts, as well as certain types of institutional accounts. In addition, clients of Interactive Brokers 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 simple new mobile app for global stock trading, as well as through the Paxos web application.

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