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The British arm of Interactive Brokers, known as Interactive Brokers U.K. Limited (IBUK), has launched cryptocurrency trading for its clients.
According to a <a href="https://www.businesswire.com/news/home/20240508125225/en/Interactive-Brokers-Launches-Cryptocurrency-Trading-for-UK-Clients" target="_blank" rel="noopener noreferrer nofollow">press release</a> on Businesswire, IBUK’s investors and financial advisors can start trading Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>), Litecoin (<a href="https://crypto.news/price/litecoin/" rel="noopener noreferrer nofollow">LTC</a>) and Bitcoin Cash (<a href="https://crypto.news/price/bitcoin-cash/" rel="noopener noreferrer nofollow">BCH</a>) through the Interactive Brokers platform.
In addition to the listed cryptocurrencies, investors can trade other investment products such as stocks, futures, options, bonds, exchange-traded funds (ETFs), mutual funds and fiat currencies on a “unified platform,” per the announcement.
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Moreover, crypto commissions are set between 0.12% and 0.18% for the IBUK clients. The fees will also depend on the monthly trading volume and there are no custody fees, per the press release.&nbsp;
It’s important to note that Interactive Brokers is one of the largest electronic trading platforms with its total assets on the balance sheet <a href="https://companiesmarketcap.com/interactive-brokers/total-assets/#:~:text=Total%20assets%20on%20the%20balance,cash%20equivalents%2C%20properties%20and%20equipment." target="_blank" rel="noopener noreferrer nofollow">reaching</a> roughly $128.42 billion as of December 2023. Last year, the company generated a total of $4.34 billion in revenue, per its public data.
Notably, the U.K. is one of many regions for Interactive Brokers to offer crypto-related services. On November 24, 2023, the company <a href="https://crypto.news/interactive-brokers-hong-kong-receives-license-to-trade-virtual-assets/" rel="noopener noreferrer nofollow">received</a> a cryptocurrency trading license in Hong Kong.&nbsp;
Five days later, Interactive Brokers <a href="https://crypto.news/interactive-brokers-taps-osl-for-retail-crypto-trading-in-hong-kong/" rel="noopener noreferrer nofollow">teamed up</a> with another brokerage platform, called OSL, to offer crypto trading for retail investors within the region.&nbsp;
In April 2023, the founder of Interactive Brokers, Thomas Peterffy, <a href="https://crypto.news/interactive-brokers-head-says-cryptos-have-no-value/" rel="noopener noreferrer nofollow">said</a> that cryptocurrencies do not have any value despite owning some digital assets.&nbsp;
Read more: <a href="https://crypto.news/trader-made-46-million-with-pepe-after-hitting-new-ath/" rel="noopener noreferrer nofollow"> Trader made $46 million with PEPE after hitting new ATH </a>

Interactive Brokers now allows UK clients to trade crypto

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