Interactive Brokers Expands Crypto Trading to UK Customers

• Interactive Brokers, a US-listed discount broker, has expanded its cryptocurrency business to the UK, offering digital asset trading services to British customers.
• The move comes five months after Interactive Brokers partnered with OSL Digital Securities to launch crypto trading services in Hong Kong.
• UK customers can now trade Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, alongside traditional investment products offered by Interactive Brokers.

Interactive Brokers, a leading discount broker, is broadening its cryptocurrency services by offering digital asset trading to its UK clients, diversifying its portfolio with Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Interactive Brokers’ Crypto Journey

Interactive Brokers began its crypto journey in July 2021, initially targeting retail investors. Shortly after, the company expanded crypto trading to institutional customers in the United States. Now, by extending its services to UK customers, Interactive Brokers is allowing both retail and institutional investors to participate in the growing digital asset economy.

Unified Platform for Traditional and Digital Assets

Eligible UK customers of Interactive Brokers can manage both traditional securities and digital assets accounts opened at Paxos Trust Company through a single, unified platform. This integration allows users to access their crypto holdings alongside other traditional assets such as stocks, derivatives, commodities, and foreign exchange products within one account.

Low Commission Rates and Regulatory Compliance

British customers, including financial advisors, will benefit from low commission rates for digital asset trading on the unified platform. The fees range from 0.12% to 0.18% of the trade value, with a minimum fee of $1.75 per order, with no added spreads, markups, or custody fees. In line with the FCA’s new rules, Interactive Brokers ensures that its marketing is “clear, fair, and not misleading,” incorporating prominent risk warnings and eliminating incentives like “refer a friend” bonuses.

Conclusion

Interactive Brokers’ expansion into the UK crypto market is a significant development, offering both retail and institutional investors an opportunity to participate in the digital asset economy. With its unified platform and compliance with FCA regulations, Interactive Brokers is well-positioned to provide a secure and efficient trading experience for its UK customers.