Interactive Brokers U.K. Launches Cryptocurrency Trading for Clients

Interactive Brokers U.K. Launches Cryptocurrency Trading for Clients

Interactive Brokers U.K. Limited (IBUK), the British branch of Interactive Brokers, has officially launched cryptocurrency trading for its clients.

According to a press release on Businesswire, IBUK now allows its investors and financial advisors to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) on the Interactive Brokers platform. In addition to these cryptocurrencies, clients can trade a range of other investment products including stocks, futures, options, bonds, exchange-traded funds (ETFs), mutual funds, and fiat currencies on a unified platform.

The press release details that crypto commissions for IBUK clients will range between 0.12% and 0.18%, depending on the monthly trading volume, with no custody fees.

Interactive Brokers is a major electronic trading platform, with total assets reaching approximately $128.42 billion as of December 2023. The company generated $4.34 billion in revenue last year, according to public data.

This move is part of Interactive Brokers’ broader expansion into crypto-related services across multiple regions. On November 24, 2023, the company obtained a cryptocurrency trading license in Hong Kong and, five days later, partnered with brokerage platform OSL to offer crypto trading for retail investors in the region.

Interestingly, despite this expansion, Interactive Brokers’ founder Thomas Peterffy stated in April 2023 that he believes cryptocurrencies lack intrinsic value, even though he owns some digital assets.

By integrating cryptocurrency trading, IBUK aims to provide a comprehensive and diversified trading experience for its clients, reflecting the growing demand for digital asset investment opportunities in the financial markets.

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