Interactive Brokers expands trading options to include cryptocurrency for UK customers.
Interactive Brokers U.K. Limited (IBUK), the British division of Interactive Brokers, has introduced cryptocurrency trading for its clients, according to a press release on Businesswire. Investors and financial advisors of IBUK can now trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) through the Interactive Brokers platform. Alongside cryptocurrencies, investors can also trade stocks, futures, options, bonds, exchange-traded funds (ETFs), mutual funds, and fiat currencies on a unified platform.
The fees for crypto trading range from 0.12% to 0.18% for IBUK clients, depending on the monthly trading volume. The press release also states that there are no custody fees. Interactive Brokers is a major electronic trading platform with approximately $128.42 billion in total assets on its balance sheet as of December 2023. In 2023, the company generated $4.34 billion in revenue.
It should be noted that the U.K. is not the only region where Interactive Brokers offers crypto-related services. The company obtained a cryptocurrency trading license in Hong Kong on November 24, 2023. Five days later, Interactive Brokers partnered with OSL, another brokerage platform, to provide crypto trading for retail investors in the region.
In April 2023, Thomas Peterffy, the founder of Interactive Brokers, expressed his belief that cryptocurrencies have no value, despite owning some digital assets.
