US brokerage IBKR Interactive Brokers allows UK investors to trade cryptocurrencies BTC, ETH, LTC

Interactive Brokers, the number one brokerage in the United States, issued an announcement late yesterday (15th) announcing that it has launched cryptocurrency trading services in the United Kingdom. British individuals and Institutional investor clients, as well as financial advisors, can now trade cryptocurrencies such as Bitcoin and Ethereum on the platform.

Interactive Brokers: Providing greater trading flexibility for British investors

According to an announcement from Interactive Brokers, the platform provides British users with the unification of their securities brokerage accounts and crypto accounts. Operations, in addition to traditional stocks and funds, now allows individual and institutional investor clients (including financial advisors) to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin on the platform Cryptoassets such as BCH.

However, it is worth noting that currently cryptocurrency transactions can only be conducted through U.S. dollars. Customers need to convert pounds to U.S. dollars when trading cryptocurrencies. In this regard, Gerald Perez, CEO of the UK branch of Interactive Brokers, said: Introducing cryptocurrency trading to British customers will provide cross-market asset investment classes and will also provide users with greater trading flexibility. British customers are very interested in cryptocurrency. Investment positions may also increase.

In addition, regarding the handling fee, the cryptocurrency handling fee for Interactive Brokers UK customers is approximately 0.12%–0.18% of the transaction value (depending on the monthly trading volume). The minimum commission for each order is US$1.75. Customers There are no additional spreads, markups or hosting fees to pay.

Compared with current mainstream cryptocurrency exchanges, the handling fees are not particularly high, but the minimum handling fee of US$1.75 is not conducive to investors with small funds, and there are currently fewer currencies traded. , users can consider it themselves.

What is Interactive Brokers?

Interactive Brokers is the world's largest and No. 1 U.S. brokerage. In addition to U.S. stock investments, it also provides diversified financial investment products such as bonds, options, and futures.

In 2017, Interactive Brokers was successfully registered as a crypto-asset trading company with the UK Financial Conduct Authority, and custody services were provided by Paxos Trust Company, another trust company licensed in the UK.

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