Interactive Brokers now allows UK clients to trade crypto

Overview of Interactive Brokers U.K. Launching Cryptocurrency Trading

Interactive Brokers U.K. Limited (IBUK) has introduced cryptocurrency trading options for its clients, enabling them to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) through their platform. This move expands the investment opportunities for IBUK investors and financial advisors, allowing them to access a wide range of digital assets alongside traditional investment products.

Cost and Accessibility of Cryptocurrency Trading on Interactive Brokers

Clients of IBUK can engage in crypto trading with commissions ranging from 0.12% to 0.18%, depending on their monthly trading volume. Notably, there are no custody fees associated with these transactions. The unified platform offered by Interactive Brokers enables seamless trading of various financial instruments, making it a convenient option for investors looking to diversify their portfolios with cryptocurrencies.

Interactive Brokers’ Expansion into the Cryptocurrency Market

With a significant presence in the electronic trading industry, Interactive Brokers has ventured into offering crypto-related services in multiple regions. Apart from the U.K., the company has obtained a cryptocurrency trading license in Hong Kong, demonstrating its commitment to catering to the growing demand for digital asset trading. Collaborations with platforms like OSL further enhance the accessibility of crypto trading for retail investors, showcasing Interactive Brokers’ strategic approach to tapping into the evolving crypto market.

Founder’s Perspective on Cryptocurrencies

In a notable statement, the founder of Interactive Brokers, Thomas Peterffy, expressed skepticism about the intrinsic value of cryptocurrencies despite his ownership of digital assets. This stance reflects the ongoing debate surrounding the legitimacy and utility of cryptocurrencies within the financial landscape, highlighting the diverse perspectives within the industry.

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