(BTC) Bitcoin News TodayBitcoin Cash (BCH)Ethereum (ETH)Exchanges & BrokersLitecoin (LTC)News

Interactive Brokers Introduce Crypto Trading Without Custody, Markups, or Spreads Fees

On 13 September (Monday), Interactive Brokers, a global brokerage company, confirmed launching a cryptocurrency trading facility, partnering with Paxos Trust Company. That will allow Interactive Broker to offer custody and trading services. The deal includes digital assets like BTC, ETH, LTC, and BCH.

The brokerage company takes the move as it aims to offer a unified crypto trading experience to its clients. Interactive Brokers will offer a cryptocurrency trading facility alongside different assets on its platform. Only US-based users can access the feature as of now.

Interactive Brokers tweeted that its offers crypto trading services to US investors. They also stated that interested traders could trade Stocks, ETFs, Options, Bonds, and Future services. Traders only need to access their professional trading platforms to access the asset classes.

For now, most traditional brokers are joining the crypto space, offering digital services on their platforms. That comes after Robinhood, a commission-free trading platform, announced that crypto services magnified its Q2 2021 revenues.

📰  Elon Musk Speaks against Government’s Proposal of Crypto Regulation

Interactive Brokers CEO Milan Galik commented on the platform’s recent developments. He said that institutional investors and sophisticated are increasingly interested in digital coins as the financial industry evolves. That is because most investors have multiple financial goals to achieve.

The CEO declared that their firm had to offer cryptocurrency services to meet the increasing crypto demand by investors. He also confirmed that Interactive Brokers would offer crypto and other assets conveniently and at a low cost.

A Unified Trading Experience

Before crypto gained mainstream acceptance in the financial markets, investors used several platforms to access traditional assets and cryptocurrency trading services. That is why giants such as Interactive Brokers plan to shift the equations, offering their customers a unified experience.

With that, customers can use one trading platform to transact and check balances across all asset classes. Thus, IKBR clients may trade ETFs, options, futures, bonds, stocks, and crypto on a single trading platform.

📰  Epic Games Gives NFT Games A Haven Following Steam Ban

Existing cryptocurrency brokers and exchanges charge 2.0% for trading with an additional markups price. Trading digital coins on Interactive Brokers with Paxos will attract low commissions (0.12% to 0.18% of trades’ value). However, that would depend on trading volume plus a fixed order cost, $1.75. Moreover, using this platform does not include custody, markups, or spread fees.

James Carr (Australia)

James is a new research writer for Tokenhell. His articles include broker and exchange reviews, guides and news from all over the crypto-verse. Stay tuned for his recent articles.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button