Interactive Brokers U.K. Limited (IBUK), a division of Interactive Brokers, has introduced cryptocurrency trading options for its clients.
As reported by Businesswire, IBUK’s investors and financial advisors now have the opportunity to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) through the Interactive Brokers platform.
In addition to these cryptocurrencies, clients have access to a diverse array of investment products, including stocks, futures, options, bonds, exchange-traded funds (ETFs), mutual funds, and fiat currencies, all available on a unified platform, as stated in the press release.
In terms of fees, crypto commissions for IBUK clients range between 0.12% and 0.18%, contingent on the monthly trading volume. The press release also highlights that there are no custody fees associated with these services.
Interactive Brokers stands as one of the largest electronic trading platforms, with total assets on its balance sheet reaching approximately $128.42 billion as of December 2023. In the previous year, the company reported a total revenue of $4.34 billion, according to its public data.
It’s noteworthy that the United Kingdom is just one of many regions where Interactive Brokers offers crypto-related services. On November 24, 2023, the company secured a cryptocurrency trading license in Hong Kong. Shortly thereafter, it formed a partnership with OSL, another brokerage platform, to provide crypto trading opportunities for retail investors in the region.
Despite these advancements, Thomas Peterffy, the founder of Interactive Brokers, expressed skepticism about the value of cryptocurrencies in April 2023, stating that they lack inherent value, despite his ownership of some digital assets.
