Interactive Brokers said clients can now transfer existing
cryptocurrency holdings into accounts linked to its platform, allowing them to
trade digital assets without selling them first.
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The broker has
expanded its crypto offering in recent years, from launching trading
via Paxos to rolling out the service in the UK, as it integrates digital
assets into its multi-asset platform.
Interactive Brokers Enables Direct Crypto Transfers from
External Wallets
The company said the new feature enables clients to move
supported cryptocurrencies from external wallets or platforms directly into
crypto accounts connected to its system. This allows investors to manage
digital assets alongside other instruments, including equities, derivatives,
and fixed-income products.
Commenting on the update, Chief Executive of Interactive
Brokers, Milan Galik, said crypto investors should have access to pricing and
investment options without maintaining separate accounts.
He added that “crypto
investors should be able to access competitive crypto pricing and diversified
investment opportunities” without “managing multiple accounts or liquidating
their positions.”
Clients Can Trade Bitcoin, Ethereum, Solana
The update applies to eligible clients of Interactive
Brokers LLC and Interactive Brokers (U.K.) Limited. Supported assets include
Bitcoin, Ethereum, and Solana, among others. Transfers can be made into
accounts held with custody providers Paxos or Zero Hash.
Interactive Brokers said the integration is intended to
combine digital asset holdings with traditional investments in a single
interface. Clients can trade cryptocurrencies on the platform at commissions
ranging from 0.12% to 0.18% of transaction value, with a minimum fee of $1.75
per order, with no added spreads or markups.
According to the broker, some cryptocurrency platforms
charge fees of up to 2% of trade value, often with additional embedded costs.
This article was written by Tareq Sikder at www.financemagnates.com.
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