An online brokerage with over one million customers, Interactive Brokers, has officially introduced crypto to its list of trading options. The plans for this were confirmed by the CEO three months ago.
Interactive Brokers users will now have the possibility of trading four crypto assets: Bitcoin, Bitcoin Cash, Ether, and Litecoin.
The CEO of the company, Milan Galik, declared:
“In giving our clients access to cryptocurrency trading, we recognize the need to meet the growing investor demand to trade cryptocurrency alongside other asset classes in a convenient and low-cost way.”
The company plans to be the go-to broker for buying crypto at low fees. Interactive Brokers will collect just 0.18% (at most) of the value of the trade, with a $1.75 minimum per order. There will be no further spreads, custody fees, or markups.
For this, the company began a collaboration with brokerage firm Paxos.
The CEO and co-founder of Paxos, Charles Cascarilla, commented:
“Paxos provides the regulated blockchain infrastructure to ensure enterprises can enable crypto safely and with reduced risk. Our collaboration with Interactive Brokers allows experienced investors to have fast, reliable access to the digital economy for the first time.”