Interactive Brokers Group Introduces Cryptocurrency Trading for Financial Advisors in the U.S.

October 18, 2021 - Interactive Brokers Group has announced its launch of cryptocurrency trading for Registered Investment Advisors (RIAs) in the U.S., enabling 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 customisable 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.”

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.