Interactive Brokers Expands Cryptocurrency Trading to UK Clients

Interactive Brokers U.K. Limited (IBUK), a subsidiary of the Interactive Brokers Group, has officially introduced cryptocurrency trading services to its customers.

The announcement, detailed in a news release visible on Businesswire, states that IBUK clients, including individual investors and financial consultants, are now able to execute trades in prominent cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) via the Interactive Brokers platform.

Alongside these digital currencies, the platform also allows for the trading of various other financial instruments, including stocks, futures, options, bonds, ETFs, mutual funds, and various national currencies, all accessible from a single, integrated platform, according to the announcement.

Interactive Brokers U.K. has established cryptocurrency commission rates ranging between 0.12% and 0.18%, depending on the client’s monthly trade volume, and has opted not to impose custody fees, as outlined in the press statement.

It is noteworthy that Interactive Brokers stands among the foremost electronic trading platforms, with the company’s total assets averaging around $128.42 billion in December 2023, and annual revenues amounting to $4.34 billion, based on publicly available data. You can find these details in a market assessment.

The United Kingdom complements a list of regions where Interactive Brokers provides crypto-focused services. For instance, on November 24, 2023, the firm secured a license for cryptocurrency trading in Hong Kong.

Subsequently, five days later, Interactive Brokers partnered with OSL, another trading platform, to extend crypto trading services to retail clients in that region.

In a contrasting stance in April 2023, Thomas Peterffy, the founder of Interactive Brokers, expressed his belief that cryptocurrencies hold no intrinsic value, despite his personal investment in the asset class.