Bitcoin news Interactive Brokers Launches Cryptocurrency Trading for Customers Through Paxos

Bitcoin news

Interactive Brokers, one of the largest online brokerage firms, has announced today it is offering cryptocurrency trading services in alliance with Paxos. The platform offers a full suite of cryptocurrency trading options as well as traditional trading options like stocks and bonds. The company understood the importance of digital assets to traders in order to help them reach their financial goals.

Bitcoin news Interactive Brokers Debuts Crypto Trading

Interactive Brokers, an online brokerage with more than one million customers, has introduced cryptocurrency to its suite of trading options, plans for which its CEO announced back in June. Interactive Brokers users will now be able trade for bitcoin, ether and litecoin. Interactive Brokers recognizes the growing importance of cryptocurrency assets for diversification in today’s financial market.

Milan Galik, the CEO of Interactive Brokers, said:

We recognize the need for our clients to have access to cryptocurrency trading. This allows us to satisfy the growing investor demand to trade crypto alongside other asset types in an easy and cost-effective manner.

The firm wants to be the leading broker for acquiring cryptocurrencies at low fees. According to the company, they will only collect 0. 18% of trade value, with a USD $1. 75 minimum per order, without added spreads, markups, or custody fees. This could allow investors to have access to this type of asset that they didn’t have through traditional brokerages.

Bitcoin news Paxos Powered Trades

To achieve its objective of bringing cryptocurrency trading to its platform, the brokerage partnered with Paxos, a New York-based cryptocurrency services firm. Paxos Crypto Brokerage is the solution that the brokerage used to manage trade volumes and complexity from Interactive Brokers as well as other customers.

Charles Cascarilla, CEO, and co-founder at Paxos stated that

Paxos offers the regulated blockchain infrastructure so enterprises can allow crypto to be used safely and with lower risk. Interactive Brokers is our partner, allowing experienced investors fast and reliable access to the digital market for the first-time.

The company can now compete with Robinhood, the feeless financial platform that offers comparable trading options.

What do you think of Interactive Brokers introducing cryptocurrency trading to their customers? Let us know your thoughts in the comments below.

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