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Interactive Brokers now allows UK customers to trade cryptocurrencies
The UK division of Interactive Brokers, known as Interactive Brokers UK Limited (IBUK), has launched cryptocurrency trading for its clients.
According to a Press release on Businesswire, IBUK investors and financial advisors can start trading Bitcoin (Bitcoin), Ethereum (ET), Litecoin (LTC) and Bitcoin Cash (BCH) through the Interactive Brokers platform.
In addition to the listed cryptocurrencies, investors can trade other investment products such as stocks, futures, options, bonds, exchange-traded funds (ETFs), mutual funds and fiat currencies on a “unified platform,” according to the announcement.
Additionally, crypto fees are set between 0.12% and 0.18% for IBUK customers. Fees will also depend on monthly trading volume and there are no custodial fees, according to the press release.
It is important to note that Interactive Brokers is one of the largest electronic trading platforms with its total assets on the balance sheet reaching approximately $128.42 billion as of December 2023. Last year, the company generated a total of $4.34 billion in revenue, according to its public data.
In particular, the United Kingdom is one of the many regions where Interactive Brokers offers cryptocurrency-related services. On November 24, 2023 the company received a cryptocurrency trading license in Hong Kong.
Five days later, Interactive Brokers made a team with another brokerage platform, called OSL, to offer cryptocurrency trading to retail investors in the region.
In April 2023, Interactive Brokers founder Thomas Peterffy She said that cryptocurrencies have no value despite owning some digital assets.