Interactive Brokers Launches Cryptocurrency Trading
October 18 2021 - 9:44AM
Dow Jones News
By Chris Wack
Interactive Brokers Group Inc. said it has launched
cryptocurrency trading for registered investment advisors in the
U.S., enabling RIAs to trade and custody bitcoin, ethereum,
litecoin and bitcoin cash via Paxos Trust Co. on behalf of
clients.
The company said the RIAs will benefit from the ability to
manage their client's positions in cryptocurrency in addition to
stocks, options, futures, bonds, mutual funds and ETFs from all
over the world from a single screen, and all shown on one platform
with customizable reports.
Interactive Brokers said cryptocurrency trading with Paxos on
Interactive Brokers' RIA platform has commissions of 0.12% to 0.18%
of trade value, depending on monthly volume with a $1.75 minimum
per order. There are no added spreads, markups, or custodial
fees.
Interactive Brokers said it plans to launch the service for
financial advisors in other parts of the world in the future.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 18, 2021 10:29 ET (14:29 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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