Interactive Brokers Launches Cryptocurrency Trading

Interactive Brokers, one of the biggest US-based brokerage firm, recently announced the launch of cryptocurrency trading, which is made available via Paxos Trust. 

The latest move aims to expand the broker's offering of trading instruments. Clients can now trade popular cryptocurriencies like BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin), and BCH (Bitcoin Cash) from the TWS platform or via the IBKR mobile app.

This feature is currently in beta, and is being rolled out gradually to eligible clients. It is now available to US clients with individual or joint accounts, expanding to more clients over time. Traders can apply for trading permissions in Client Portal.

​Let's recall that, Interactive Brokers's chairman and CEO Thomas Peterffy stated that they will launch cryptocurrency trading within its platform by the end of the summer. Recently, the broker has released its monthly brokerage statistics for August 2021​, reporting a monthly slow down in daily average revenue trades(DARTS).