Interactive Brokers Launches Cryptocurrency Trading for UK Clients
15 Maio 2024 - 6:00AM
Business Wire
Single View to Trade Crypto and Stocks,
Options, Futures, Currencies, Bonds, Funds, ETFs and More
Interactive Brokers (Nasdaq: IBKR), an automated global
electronic broker, today announced the launch of cryptocurrency
trading in the United Kingdom as a new addition to its platform.
Individual and institutional investor clients of Interactive
Brokers (U.K.) Limited (IBUK), including financial advisers, can
now trade crypto assets such as Bitcoin (BTC), Ethereum (ETH),
Litecoin (LTC) and Bitcoin Cash (BCH) alongside the broad range of
investment products available through Interactive Brokers from a
single unified platform.
Eligible clients of IBUK can transact and view balances through
a single platform that provides a unified view of their IBUK
securities brokerage account and their crypto account at Paxos
Trust Company. Clients benefit from the convenience of centralized
cash management and can trade BTC, ETH, LTC and BCH plus stocks,
options, futures, currencies, bonds, mutual funds, ETFs, and more
from a single screen. This eliminates the need for investors to
trade through different trading platforms and allows financial
advisers to efficiently manage portfolios and allocate a percentage
of client assets to cryptocurrency.
"Interactive Brokers offers a wide selection of global
investment products, sophisticated technology and competitive
pricing," said Gerald Perez, Chief Executive Officer at Interactive
Brokers (U.K.) Limited. "Introducing cryptocurrency trading gives
UK clients enhanced flexibility to invest across markets and asset
classes while also adding exposure to digital assets.”
Cryptocurrencies are denominated in USD on Interactive Brokers’
platform, and clients can convert GBP (or other currencies) to USD
with spreads as tight as 1/10 of a PIP. As with any product on the
Interactive Brokers platform that is denominated in a currency
different than the currencies a client holds in their account at
the time:
- clients with cash accounts can also take advantage of FX
auto-conversion of their GBP or other currency balances,1
while
- clients with margin accounts can either automatically borrow
USD (or whatever currency is needed to trade the product they want
to purchase) or can choose to convert currencies at Interactive
Brokers’ highly competitive rates.
Cryptocurrency commissions for IBUK clients are a low 0.12% -
0.18% of trade value, depending on monthly volume, with a USD 1.75
minimum per order. In addition, clients are not charged any added
spreads, markups, or custody fees.
Interactive Brokers (U.K.) Limited is registered with the
Financial Conduct Authority as a crypto assets firm under the Money
Laundering, Terrorist Financing and Transfer of Funds (Information
on the Payer) Regulations 2017. Crypto assets are unregulated in
the UK and are not subject to the Financial Services Compensation
Scheme (FSCS) or the Securities Investor Protection Corporation
(SIPC). All exchange and custody services for clients of IBUK in
connection with trading and holding cryptocurrency tokens and other
digital asset tokens through IBKR platforms are provided by Paxos
Trust Company (a New York Limited Trust Company licensed by the New
York Department of Financial Services).
For more information about cryptocurrency trading, please visit:
https://www.interactivebrokers.co.uk/en/trading/products-cryptocurrencies.php
1 IBUK is currently in the process of completing the rollout of
FX auto-conversion to all cash-account clients. This feature is
already available for standard individual accounts.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade
execution and custody of securities, commodities, and foreign
exchange around the clock on over 150 markets in numerous countries
and currencies, from a single unified platform to clients
worldwide. We serve individual investors, hedge funds, proprietary
trading groups, financial advisors and introducing brokers. Our
four decades of focus on technology and automation has enabled us
to equip our clients with a uniquely sophisticated platform to
manage their investment portfolios. We strive to provide our
clients with advantageous execution prices and trading, risk and
portfolio management tools, research facilities and investment
products, all at low or no cost, positioning them to achieve
superior returns on investments. For the sixth consecutive year,
Barron’s ranked Interactive Brokers #1 with 5 out of 5 stars in its
June 9, 2023, Best Online Brokers Review.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240508125225/en/
Contacts for Interactive Brokers Group, Inc. Media: Katherine
Ewert, media@ibkr.com
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