Interactive Brokers U.K. Limited (IBUK), the British arm of Interactive Brokers, has launched cryptocurrency trading services for its clients.
According to a press release on 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 cryptocurrencies, investors can access a wide range of investment products, including stocks, futures, options, bonds, exchange-traded funds (ETFs), mutual funds, and fiat currencies, all on a unified platform, as announced.
Crypto trading commissions for IBUK clients are set between 0.12% and 0.18%, depending on monthly trading volumes, with no custody fees, according to the press release.
It’s worth noting that Interactive Brokers is one of the largest electronic trading platforms, with total assets on its balance sheet reaching approximately $128.42 billion as of December 2023. Last year, the company reported a total revenue of $4.34 billion, according to its public data.
The introduction of crypto trading in the UK adds to Interactive Brokers’ global expansion in the cryptocurrency market. In November 2023, the company obtained a cryptocurrency trading license in Hong Kong. Five days later, Interactive Brokers partnered with OSL, another brokerage platform, to offer crypto trading services to retail investors in the region.
In April 2023, Thomas Peterffy, the founder of Interactive Brokers, expressed skepticism about the value of cryptocurrencies, despite owning some digital assets.
Summary Review: Interactive Brokers U.K. Limited (IBUK) has expanded its services to include cryptocurrency trading for its clients in the UK. This move allows investors and financial advisors to trade Bitcoin, Ethereum, Litecoin, and Bitcoin Cash alongside traditional investment products on a unified platform. With competitive commissions and no custody fees, IBUK aims to provide accessible and convenient crypto trading options to its clientele. This expansion reflects Interactive Brokers’ commitment to adapting to evolving market trends and meeting the growing demand for cryptocurrency investment opportunities.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
