Interactive Brokers has enabled US users to trade cryptocurrencies

Interactive Brokers, one of the most famous online trading platforms, has enabled its users to trade cryptocurrencies bitcoin, ethereum, litecoin, and bitcoin cash.

IBKR thus joins Robinhood as one of the only large brokerage houses that allows clients to invest directly in cryptocurrencies. Competitors Fidelity and Charles Schwab do not currently offer direct cryptocurrency trading on their platforms.

Interactive Brokers is launching the service in partnership with Paxos Trust Company, a blockchain company that also runs PayPal’s cryptocurrency trade.

“While other cryptocurrencies and brokers charge fees of 2.00% of the trade value or more with additional margins, trading cryptocurrencies with Paxos on the Interactive Brokers platform only has a low commission of 0.12% - 0.18% of the trade value, depending on the monthly volume, with a minimum of $ 1.75 per trade, ” it was announced.

The service is currently available to US residents with individual or joint accounts. Interactive Brokers has announced that it plans to enable crypto trading to international clients in the near future.

By: Amber V. - Gossip Whispers