🌎 Interactive Brokers U.K. Launches Cryptocurrency Trading for Clients

The British arm of Interactive Brokers, Interactive Brokers U.K. Limited (IBUK), has introduced cryptocurrency trading for its clients.

According to a recent announcement, IBUK’s investors and financial advisors can now trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) through the Interactive Brokers platform.

In addition to these cryptocurrencies, investors can also trade stocks, futures, options, bonds, exchange-traded funds (ETFs), mutual funds, and fiat currencies on a unified platform.

Crypto Commissions and Fees

Crypto commissions for IBUK clients are set between 0.12% and 0.18%, depending on the monthly trading volume. Importantly, there are no custody fees for these transactions.

Interactive Brokers’ Market Presence

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. In the previous year, the company generated a total revenue of $4.34 billion.

The U.K. is just one of many regions where Interactive Brokers offers crypto-related services. On November 24, 2023, the company secured a cryptocurrency trading license in Hong Kong. Shortly after, Interactive Brokers collaborated with another brokerage platform, OSL, to provide crypto trading for retail investors in the region.

Founder’s Perspective

In April 2023, Thomas Peterffy, the founder of Interactive Brokers, mentioned that he believes cryptocurrencies do not have any intrinsic value despite owning some digital assets.