Interactive Brokers launches cryptocurrency trading for investment advisors

International brokerage firm Interactive Brokers announced the launch of cryptocurrency trading for registered investment advisors in the United States. They will be able to offer their clients investments in BTC, ETH, BCH, and LTC.

Registered Investment Advisors (RIAs), managing nearly $110 trillion portfolios of approximately 61 million clients, will be able to “trade and custody bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BCH) via Paxos Trust Company on behalf of clients.”

“Allocating a small percentage of assets to cryptocurrency as part of a well-diversified portfolio has steadily become more commonplace, and advisors may wish to recommend cryptocurrency to their clients,” commented Steve Sanders, executive vice president of marketing and product development at Interactive Brokers.

The company noted that while the offer is initially only available to RIAs in the US, it plans to launch a service for financial advisors in other countries in the future.

Online broker Interactive Brokers had approximately 1.33 million customer accounts and $330.6 billion in customer capital as of Q1 2021. Customers in over 200 countries and regions around the world use Interactive Brokers to invest in stocks, options, futures, currencies, bonds and funds from a single integrated account.

When trading cryptocurrency through Paxos on the Interactive Brokers platform, the RIA commission ranges from 0.12% to 0.18% of the trade value depending on the monthly volume, but not less than $1.75 per order.

Via: 2Coinfox.info

Share on print
Print
Share on facebook
Share
Share on twitter
Tweet
Share on linkedin
Linkedin
Share on email
email

Leave a Replay