Interactive Brokers Expands Crypto Services in 2024

Interactive Brokers is one of the largest American electronic trading firms, with over 2.1 million clients and 3 million trades per trading day as of 2023. The company offers trading in 150 markets, including stocks, bonds, mutual funds, options, futures contracts, options on futures, currencies, cryptocurrencies, contracts for difference, derivatives, exchange of futures for physicals, and event-based trading contracts on elections and other outcomes.

Interactive Brokers has been deeply involved in the cryptocurrency market since its boom. Depending on their plan, clients can trade either four or eight cryptocurrencies through Pacos Trust Company and Zero Hash. The four primary cryptocurrencies offered are: 1. Bitcoin, 2. Ethereum, 3. Litecoin, and 4. Bitcoin Cash. With some of the lowest fees in the market, the broker offers 24/7 crypto trading through their associated apps.

Interactive Brokers offers futures contracts for both Bitcoin and Ethereum. Bitcoin contracts are at $5 for 5 coins per contract, while Ethereum contracts cost $3 for 50 coins per contract.

IB Expands To Dubai, Offers Lowest Crypto Fees

With the opening of a new office in Dubai (16th Oct 2024), Interactive Brokers brought their presence to the Middle East. With an existing strategy of cost-effective brokerage, now magnetically attracting high net-worth investors and a range of wealth management institutes, including banks, hedge funds, and many more. This predicts a brighter future for Interactive Brokers in the global market.

Furthermore, digging deep through the cryptocurrency trades by Interactive Brokers, they tend to have the lowest trading commissions, starting from 0.12% to 0.18% of trade value with a minimum of $1.75 per order, surpassing all the competitors in the present market.

Interactive Brokers Sees 19% Growth, Expands Globally Into Crypto

With a recent quarter result, Interactive Brokers showed a whopping 19% growth over the same period last year, with revenue reported at 1.37 billion in the September 2024 quarter result. The key advantage of the broker is the talk of the town as they provide trading in cryptocurrencies, stocks, options, futures, and ETFs, which came out to be a very strategic decision compared to competitors in the market who provide either cryptocurrencies or stocks on a single platform.

Continuous strategic growth planning helped Interactive brokers benefit from global demand by entering the United Kingdom and now in Dubai, taking competitive pricing as their advantage. With the demand for crypto trading, Launching the crypto option came out to be the upper hand as it helped to attract clients ranging from small to large scale.

Prioritising security and making it up to the mark for regulatory standards helped achieve investors’ trust instantly, as it was a major concern in the cryptocurrency industry, while simultaneously providing Educational resources to help clients with cryptocurrency trading complexities, making it accessible for new investors and traders.

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