By Chris Wack
Interactive Brokers Group Inc. said it has launched cryptocurrency trading for registered investment advisors in the U.S., enabling RIAs to trade and custody bitcoin, ethereum, litecoin and bitcoin cash via Paxos Trust Co. on behalf of clients.
The company said the RIAs will benefit from the ability to manage their client's positions in cryptocurrency in addition to stocks, options, futures, bonds, mutual funds and ETFs from all over the world from a single screen, and all shown on one platform with customizable reports.
Interactive Brokers said cryptocurrency trading with Paxos on Interactive Brokers' RIA platform has commissions of 0.12% to 0.18% of trade value, depending on monthly volume with a $1.75 minimum per order. There are no added spreads, markups, or custodial fees.
Interactive Brokers said it plans to launch the service for financial advisors in other parts of the world in the future.
Write to Chris Wack at firstname.lastname@example.org
(END) Dow Jones Newswires