Puzzled about cryptocurrency? Interactive Brokers is addressing its clients’ desire to know—and do—more about digital assets by providing access to cryptocurrency trading through Paxos Trust Company. Individuals and financial advisors in the United States can now invest in Bitcoin, Ethereum, Litecoin and Bitcoin Cash, with low commissions and without added spreads, markups or custody fees. On the horizon are plans to inaugurate the service for customers around the world.
A key advantage is the ability to access cryptocurrency along with other financial holdings on a single platform, instead of using several platforms from various brokers and exchanges. Clients can trade cryptocurrency along with stocks, options, futures, bonds, mutual funds and ETFs from a single screen. The move comes as interest in digital assets has soared, along with concerns about safety and security. The good news is that Paxos, a regulated blockchain infrastructure platform chartered in 2015, is a secure crypto exchange and protects clients by holding assets in bankruptcy remote, segregated accounts.
Founded more than four decades ago, Interactive Brokers’ mission remains unchanged, aiming to provide its clients with the lowest possible costs, the greatest breadth of global investment products and advanced trading technology. Throughout its history it has embraced innovation in service of those goals, whether that meant being the first major broker to offer zero commissions and fractional share trading or opening the online Investors’ Marketplace in 2015, among many other industry advancements.
“Individuals and financial advisors are starting to allocate part of their portfolios to digital currencies to achieve their financial objectives,” says Steven Sanders, EVP of marketing and product development at Interactive Brokers. “In giving our clients access to cryptocurrency trading, we recognize the need to meet the growing demand to invest in cryptocurrency alongside other asset classes in a convenient and low-cost way.”
The company’s achievements have garnered a long roster of awards and top ratings over the decades, including, most recently, “Best Online Broker of 2021” by Barron’s. Today Interactive Brokers has more than $10 billion in equity capital and conducts business on over 135 market destinations with more than 1.5 million client accounts around the world. There’s nothing mysterious about that.