Interactive Brokers Introduces Crypto Trading

Interactive Brokers Introduces Crypto Trading

Charles Cascarilla, CEO and Co-Founder of Paxos, commented, “Consumer interest in accessing digital assets through trusted intermediaries is driving a shift in the financial industry. Paxos provides the regulated blockchain infrastructure to ensure enterprises can enable crypto safely and with reduced risk. Our collaboration with Interactive Brokers allows experienced investors to have fast, reliable access to the digital economy for the first time.” “Interactive Brokers remains committed to providing breadth of product globally, advanced technology and superior pricing,” said Steven Sanders, EVP of Marketing and Product Development at Interactive Brokers. “Adding access to cryptocurrency trading further delivers on our mission to provide active traders and sophisticated investors with powerful trading tools and a wide range of products at low cost.” Paxos is a regulated blockchain infrastructure platform. It became the first chartered Trust company for digital assets in 2015, regulated by the New York Department of Financial Services. This oversight helps protect consumers and provides for assets to be held in bankruptcy remote, segregated accounts.

Trading cryptocurrency and other asset classes previously required investors to use multiple trading platforms from different brokers and exchanges. Interactive Brokers’ cryptocurrency offering, however, allows investors to transact and view balances through a single platform that provides a unified view. “As financial markets evolve, sophisticated individual and institutional investors are increasingly seeking out allocations to digital currencies as a means of achieving their financial objectives,” said Milan Galik, Chief Executive Officer of Interactive Brokers. “In giving our clients access to cryptocurrency trading, we recognize the need to meet the growing investor demand to trade cryptocurrency alongside other asset classes in a convenient and low-cost way.”

Interactive Brokers’ clients benefit from the convenience of centralized cash management and can trade Bitcoin, Ethereum, Litecoin and Bitcoin Cash plus stocks, options, futures, bonds, mutual funds and ETFs from a single screen. While initially available to clients that are U.S. residents with individual or joint accounts, Interactive Brokers plans to launch cryptocurrency trading to additional client types, including Financial Advisors and clients in other parts of the world, in the future. Through Paxos, IBKR clients will be able to trade cryptocurrency alongside other asset classes available on the Interactive Brokers platform creating a unified customer experience. While other crypto exchanges and brokers charge fees of 2.00% of trade value or more and add spreads or markups to the price, cryptocurrency trading with Paxos on Interactive Brokers’ platform has low commissions of just 0.12% – 0.18% of trade value, depending on monthly volume, with a USD 1.75 minimum per order. Plus, there are no added spreads, markups, or custody fees.

Source: Interactive Brokers

The News Highlights

  • Interactive Brokers Introduces Crypto Trading
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Last year, business grew – and changed |  News
Last year, business grew – and changed | News
But the grand opening of a Planet Fitness on March 30 in what was once the Sears store at Logansport Mall seemed to be the restart of the growth. They ...
11 accused of defrauding elderly victims with money by courting them through dating sites, feds say
11 accused of defrauding elderly victims with money by courting them through dating sites, feds say
They’re charged with counts including conspiracy to commit wire fraud and conspiracy to launder moneytary instruments, the office said. If convicted, they face ...
Connection Problems in Resurrected
Connection Problems in Resurrected
As gamers around the world first try to boot up Diablo 2: Resurrected, many are discovering there’s some issue stopping them from loading in. Depending on ...
Switching Between Profiles, Android Auto Update Adds Games
Switching Between Profiles, Android Auto Update Adds Games
Google Play Store allows you to automatically update apps when a new version of the app is released on the Play Store. You can turn on auto-updates for apps ...
Texas Republican Congressman Brian Babin says he tested positive for Covid-19
Texas Republican Congressman Brian Babin says he tested positive for Covid-19
CNN’s Annie Grayer, Kristin Wilson and Sarah Fortinsky contributed to this report. Four senators have also contracted the virus after being vaccinated. ...
Can new iPhones juice Apple’s extravaganza run?
Can new iPhones juice Apple’s extravaganza run?
If you ask Wall Street, the answer is a resounding yes. Earlier this month, shares of Apple — the most valuable company in the world — hit an all-time high. ...
Armory awarded grants to recover losses from COVID closures |  Latest news
Armory awarded grants to recover losses from COVID closures | Latest news
— Sun staff The People’s Museum at the Armory is open Mondays and Thursdays from 9 a.m. to 4 p.m. The museum features memorabilia from the ...
Krispy Kreme shares slip on opening trade, reverse higher
Ducey replaces members of the massage therapists regulatory board
Public members are people not in the regulated occupations. Ducey noted that three of the five new members have experience in victim advocacy and support. ...
UP Police joins the Bandwagon of iPhone 13 camera meme-fest, tweets : ‘Apple of everyone’s eyes’
UP Police joins the Bandwagon of iPhone 13 camera meme-fest, tweets : ‘Apple of everyone’s eyes’
As the new iPhone 13 looked almost identical to the existing iPhone 12, netizens started poking fun at the company for selling similar looking gadgets but at ...
Panel approves $3.5T invoice from Dems, critical time for Biden’s schedule
Panel approves $3.5T invoice from Dems, critical time for Biden’s schedule
Pelosi told fellow Democrats Saturday that they “must” pass the social and environment package this week, along with a separate infrastructure bill and a ...
Show next
Compsmag - Latest News from tech, business and health
Logo