Interactive Brokers U.K. Limited (IBUK), the British division of Interactive Brokers, has recently introduced cryptocurrency trading options for its clients. As stated in a press release on Businesswire, IBUK’s investors and financial advisors now have the opportunity to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) through the Interactive Brokers platform.
Along with the mentioned cryptocurrencies, investors can also engage in trading various other investment products such as stocks, futures, options, bonds, exchange-traded funds (ETFs), mutual funds, and fiat currencies on a single, unified platform, according to the announcement.
The crypto commissions for IBUK clients are set at rates ranging between 0.12% and 0.18%, based on the monthly trading volume, with no custody fees involved, as per the press release.
It is worth highlighting that Interactive Brokers is a leading electronic trading platform, with total assets on the balance sheet amounting to approximately $128.42 billion as of December 2023. In the previous year, the company generated a total revenue of $4.34 billion, according to its public financial data.
Notably, the U.K. is just one of the many regions where Interactive Brokers offers crypto-related services. On November 24, 2023, the company was granted a cryptocurrency trading license in Hong Kong. Shortly after, Interactive Brokers collaborated with another brokerage platform named OSL to provide crypto trading services for retail investors in that region.
In April 2023, the founder of Interactive Brokers, Thomas Peterffy, expressed his belief that cryptocurrencies hold no intrinsic value, despite his ownership of some digital assets.