Interactive Brokers Group Introduces Cryptocurrency Trading for Financial Advisors in the U.S.
18 Ottobre 2021 - 4:00PM
Business Wire
Clients Managing Well-Diversified Portfolios
Now Able to Trade Cryptocurrency
Interactive Brokers Group (Nasdaq: IBKR), a global brokerage
firm, today announces its launch of cryptocurrency trading for
Registered Investment Advisors (RIAs) in the U.S., enabling these
RIAs to trade and custody Bitcoin (BTC), Ethereum (ETH), Litecoin
(LTC) and Bitcoin Cash (BCH) via Paxos Trust Company on behalf of
clients. RIAs will benefit from the ability to manage their
client’s positions in cryptocurrency in addition to stocks,
options, futures, bonds, mutual funds and ETFs from all over the
world from a single screen, and all shown on one platform with
customizable reports.
“Allocating a small percentage of assets to cryptocurrency as
part of a well-diversified portfolio has steadily become more
commonplace, and advisors may wish to recommend cryptocurrency to
their clients,” said Steve Sanders, EVP of Marketing and Product
Development at Interactive Brokers. “Adding cryptocurrency trading
underscores our ongoing dedication to providing advisors with the
investment products and tools they need to successfully manage
client portfolios and grow their businesses.”
While other crypto exchanges and brokers charge fees that can be
as high as 2.00% of trade value or more and add spreads or markups
to the price, cryptocurrency trading with Paxos on Interactive
Brokers’ RIA platform has low commissions of just 0.12% - 0.18% of
trade value, depending on monthly volume with a USD 1.75 minimum
per order. In addition, there are no added spreads, markups, or
custodial fees. While initially available to RIAs in the U.S.,
Interactive Brokers plans to launch the service for financial
advisors in other parts of the world, in the future.
Additional features available on the IBKR RIA platform
include:
- No ticket charges, no custodial fees, no minimums and no
technology, software, platform or reporting fees.
- No in-house advisory team or proprietary trading group to
compete with advisors for clients.
- Ability to trade stocks, options, futures, currencies, bonds
and funds on over 135 markets from a single integrated master
account, and trade cryptocurrencies from the same platform.
- Free CRM, portfolio management and trading platform, plus
PortfolioAnalyst®, which gives advisors the ability to consolidate
and analyze a client’s entire portfolio, including assets held at
other institutions.
- Automated and flexible client billing.
- Free compliance and website building services.
- Debit Card and Bill Pay functions available for U.S. advisor
clients.
Interactive Brokers’ crypto trading is offered through Paxos
Trust Company, a regulated blockchain infrastructure platform. It
became the first chartered trust company for digital assets in 2015
and is regulated by the New York Department of Financial Services.
This oversight helps protect consumers and provides for assets to
be held in bankruptcy remote, segregated accounts.
For more information about IBKR’s cryptocurrency offering for
RIAs visit: ibkr.com/ria
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade
execution and custody of securities, commodities and foreign
exchange around the clock on over 135 markets in numerous countries
and currencies, from a single IBKR Integrated Investment Account to
clients worldwide. We service individual investors, hedge funds,
proprietary trading groups, financial advisors and introducing
brokers. Our four decades of focus on technology and automation has
enabled us to equip our clients with a uniquely sophisticated
platform to manage their investment portfolios. We strive to
provide our clients with advantageous execution prices and trading,
risk and portfolio management tools, research facilities and
investment products, all at low or no cost, positioning them to
achieve superior returns on investments. Barron’s ranked
Interactive Brokers #1 with 5 out of 5 stars in its February 26,
2021, Best Online Broker Review.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211018005264/en/
Contacts for Interactive Brokers Group, Inc. Media: Katherine
Ewert, media@ibkr.com
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