Interactive Brokers Launches Prepaid Mastercard in Canada

​Interactive Brokers Canada Inc. (IB Canada), a Canadian arm of Interactive Brokers LLC that is one of the biggest US-based brokerage firm, has introduced the Prepaid Mastercard in Canada. IB Canada is an execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives.

Wanna be the Next Cover Person of Fazzaco Magazine?

Reportedly, the Prepaid Mastercard is designed to enhance the cash management benefits for IB Canada clients, with the newly added ability to offset transactions against their IB account balances.

The dealer elaborated the major benefits of the integrated financial management account along with the Prepaid Mastercard as follows:

• Cover card transactions with funds from the brokerage account at ultra-low rates – currently CAD 1.63% or less

• Receive market interest rates on idle account balances and earn extra income by lending fully paid shares

• Spend and borrow directly against the IBKR (the professional’s gateway to the world’s markets) brokerage account, avoiding late fees or foreign transaction charges

• Invest in stocks, options, futures, bonds, funds and forex on over 135 markets at low costs

• ​Take advantages of any of these benefits from a single account, eliminating the inconvenience of transferring funds between accounts and avoiding late fees