Interactive Brokers Adds New Cryptocurrency Tokens to Trading Platform
Interactive Brokers, a leading global electronic broker, has recently expanded its trading platform to include four new popular cryptocurrency tokens: Solana (SOL), Cardano (ADA), Ripple (XRP), and Dogecoin (DOGE). These additions complement the existing offerings of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), providing investors with access to a diverse range of digital assets. Clients with accounts at Zero Hash LLC can trade SOL, ADA, XRP, and DOGE, while SOL is available to clients with accounts at Paxos Trust Company.
For eligible clients of Interactive Brokers LLC (IB LLC) and Interactive Brokers (U.K.) Limited (IB UK), trading in cryptocurrencies seamlessly integrates with their existing platform used for stocks, options, futures, and more across over 160 global markets. This integrated approach allows investors to manage spot cryptocurrency positions alongside crypto futures, options, and ETFs, providing a holistic view of their portfolio and cash management in one place.
Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, highlighted the significance of these new additions, stating that they offer clients increased flexibility to diversify portfolios and seize opportunities within the digital asset space. The expansion aligns with the company’s commitment to providing a comprehensive trading experience with competitive pricing and powerful tools for investors.
Interactive Brokers boasts some of the industry’s lowest cryptocurrency trading costs, undercutting leading cryptocurrency exchanges and online brokers. Commissions range from 0.12% to 0.18% of trade value based on monthly volume, with a mere $1.75 minimum per order. Clients can trade without added spreads, markups, or custody fees, ensuring transparent pricing on every transaction. A detailed cryptocurrency cost comparison chart is accessible on the Interactive Brokers website for further clarity.
Clients trading cryptocurrencies through Interactive Brokers’ platform have the advantage of holding both USD and cryptocurrencies in their trading accounts, enabling 24/7 trading, placing non-marketable limit orders for precise execution, and withdrawing cryptocurrencies to external wallets for added flexibility.
Interactive Brokers’ cryptocurrency trading is available to eligible clients of Interactive Brokers LLC and Interactive Brokers (U.K.) Limited, with product and feature availability varying by region. Zero Hash LLC, a FinCen-registered Money Service Business operating in 51 U.S. jurisdictions, plays a key role in supporting cryptocurrency trading services for Interactive Brokers’ clients.
In conclusion, with its latest offerings in the cryptocurrency space, Interactive Brokers continues to cater to the needs of its clients by providing a comprehensive and efficient trading experience across a wide array of digital assets. By combining competitive pricing, robust tools, and seamless integration within its existing platform, Interactive Brokers remains a top choice for well-informed investors looking to navigate the cryptocurrency market.
