Press release
Interactive Brokers Group Introduces Cryptocurrency Trading for Financial Advisors in the U.S.
Clients Managing Well-Diversified Portfolios Now Able to Trade Cryptocurrency GREENWICH, Conn.--(BUSINESS WIRE)-- Interactive Brokers Group (Nasdaq: IBKR), a
About this update from Interactive Brokers Group, Inc.
[{"type":"text","content":"\nClients Managing Well-Diversified Portfolios Now Able to Trade Cryptocurrency\n\n GREENWICH, Conn.--(BUSINESS WIRE)--\nInteractive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today announces its launch of cryptocurrency trading for Registered Investment Advisors (RIAs) in the U.S., enabling these RIAs to trade and custody Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) via Paxos Trust Company on behalf of clients. RIAs will benefit from the ability to manage their client’s positions in cryptocurrency in addition to stocks, options, futures, bonds, mutual funds and ETFs from all over the world from a single screen, and all shown on one platform with customizable reports.\n\n“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,” said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. “Adding cryptocurrency trading underscores our ongoing dedication to providing advisors with the investment products and tools they need to successfully manage client portfolios and grow their businesses.”\n\nWhile other crypto exchanges and brokers charge fees that can be as high as 2.00% of trade value or more and add spreads or markups to the price, cryptocurrency trading with Paxos on Interactive Brokers’ RIA platform has low commissions of just 0.12% - 0.18% of trade value, depending on monthly volume with a USD 1.75 minimum per order. In addition, there are no added spreads, markups, or custodial fees. While initially available to RIAs in the U.S., Interactive Brokers plans to launch the service for financial advisors in other parts of the world, in the future.\n\nAdditional features available on the IBKR RIA platform include:\n\n\nNo ticket charges, no custodial fees, no minimums and no technology, software, platform or reporting fees.\n\n\nNo in-house advisory team or proprietary trading group to compete with advisors for clients.\n\n\nAbility to trade stocks, options, futures, currencies, bonds and funds on over 135 markets from a single integrated master account, and trade cryptocurrencies from the same platform.\n\n\nFree CRM, portfolio management and trading platform, plus PortfolioAnalyst®, which gives advisors the ability to co...