Interactive Brokers Introduces Cryptocurrency Trading Through Paxos1
Clients with individual brokerage accounts in the US now have the ability to seamlessly trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) through IBKR's professional grade desktop platform and intuitive mobile and web platforms. Cryptocurrency trade execution and custody are provided by Paxos Trust Company, a regulated New York limited trust company that affords investors secure technology and a high level of protection.
While other crypto exchanges and brokers charge trading fees of as much as 2.00% of trade value (or more), with added spreads or markups, cryptocurrency trading with Paxos on the Interactive Brokers platform has a low commission of just 0.12% to 0.18% of trade value, with a USD 1.75 minimum commission per order. There are no added spreads, markups or custody fees.
You can trade cryptocurrencies from Client Portal and with TWS Latest version 10.10.2j or later, IBKR Mobile (iOS) version 8.82 or later, or IBKR Mobile (Android) version 8.4.458 or later.
We expect to offer access to cryptocurrency trading to additional client types, including Financial Advisors and clients in other parts of the world, in the future.
To Request Cryptocurrency Trading Permission:
After receiving Cryptocurrencies trading permission, you can trade BTC, ETH, LTC or BCH in Trader Workstation by creating an order ticket, typing the currency symbol in the Financial Instrument search field, entering your order details, and clicking "Transmit".
From IBKR Mobile, click "Trade" > click "Buy Order" > search for the currency, and choose the currency. If you have more than one account, choose the account you want to trade with by clicking the drop down. Enter your order details > click "Preview" then "Slide To Submit Buy". Click "Yes" on the disclaimer to finalize the order.
From Portal, click Trade > Crypto, search for the currency, enter your order details and click "Submit Buy Order" to place the trade.
 Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. All trading and custody of digital assets is provided by Paxos Trust Company (“Paxos”) in an account held in your name at Paxos. Digital assets held with Paxos are not protected by SIPC. Eligibility restrictions apply. For more information please see ibkr.com/crypto.
INTERACTIVE BROKERS LLC IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS.
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While many of our clients actively trade or maintain substantial equity in their account, we have decided to eliminate our monthly inactivity fee so there are no impediments to maintaining an account with IBKR.
As of July 1, 2021, we eliminated inactivity fees for most account types, so there is no longer a USD 10 charge for not maintaining a minimum balance or transaction activity with your account. The change will be reflected on August 2021 account statements.
Our decision to remove inactivity fees aligns us with industry standards and reflects our ongoing commitment to provide clients with low-cost trading solutions.
Interactive Brokers introduced new, simplified pricing for Western European stocks:
These low commission rates are available with IB SmartRoutingSM, which optimizes the execution quality for clients by accessing the many exchanges and trading venues across the continent. Please note the Fixed commission model does not have fee caps.
Our new pricing is offered alongside our current tiered pricing so that you can choose a commissions structure that best aligns with your investing objectives, without added spreads, ticket charges, platform fees or account minimums.
Clients from over 200 countries and territories trade stocks, options, futures, currencies, bonds, funds and more from a single, integrated account. Fund or trade your account in multiple currencies, access 135 global exchanges including all U.S exchanges, and use powerful mobile, web and desktop trading platforms.
Hong Kong stocks now from HKD 0.015% - 0.05% of Trade Value1
Interactive Brokers has new, lower pricing for Hong Kong stocks:
Interactive Brokers' clients executed over 3 million trades per day1 during Q2 2021. We believe our institutional clients would benefit greatly from interacting with this liquidity.
As you know there is great controversy about payment for order-flow. Brokers, who charge zero commissions, sell their orders to High Frequency Traders who execute these orders at slightly better prices than the NBBO. But these execution prices are still advantageous enough for them to be able to pay the brokers, maintain their operations, and make a profit that sums to billions. In the first quarter, nearly 50% of all stock trades2 were executed off the exchanges, resulting in less liquidity and wider markets for institutional traders.
At Interactive Brokers we charge a commission averaging just under $0.002 per share3 and seek to execute our orders at the best price our order-execution system can find in various dark pools and the exchanges. Traders who do not need immediate execution and are willing to rest mid-point pegged orders in our ATS can effectively reduce the bid/offer spread to zero both for themselves and for the SmartRouted orders we cross with their resting order.
Join them - both your institution and other IBKR clients would benefit greatly and equally!
IBKR hosts resting orders on our ATS, shielding our clients' intentions while achieving best price execution. We have incorporated anti-gaming logic into our SmartRouter to prevent predatory traders from probing the IBKR ATS to detect large resting orders. In addition, we do not trade against our clients' orders.
IBKR ATS accepts Accumulate/Distribute, Relative (a.k.a. Pegged-to-Primary), Pegged-to-Market, Pegged-to-Midpoint, Scale and non-marketable Limit orders. All order types (other than midpoint peg orders) provide dynamic adjustment so that a buy order is always at least one tick below the NBO, and a sell order is always at least one tick above the NBB. Midpoint peg orders are always executed at the midpoint of the NBBO. In addition, the GTD (Good-til-Date/Time) feature lets you select an expiration date and time up until which an order will stay active.
As an IBKR client, you can interact with our SmartRouted order flow by directing your order to the IBKR ATS. Simply click "Advanced" on the TWS Order Entry panel and select IBKR ATS as your destination. If you are looking to connect with the IBKR ATS using an API, contact our API Team at email@example.com to learn more.
We look forward to helping you realize zero spread executions.
 Daily average revenue trades (DARTs). For more information, see ibkr.com/ir
 Based on WSJ article, GameStop Mania Highlights Shift to Dark Trading; February 12, 2021
 Commissions may vary based on commission model. For more information, visit our commissions webpage.
Many brokers sell their clients' orders to market makers who pay the brokers for these orders. The market makers trade with the orders by taking the other side of the trade and thus, establishing an execution price.
Yes. The SEC requires that all orders be executed at or inside the NBBO (the national best bid / offer). The best bid is the highest bid displayed among all the exchanges and the best offer is the lowest offer displayed among all the exchanges in the U.S. There is an exception to this rule when the size of an order exceeds the size displayed at the NBBO.
Brokers say that if they sent the order to an exchange, that order would trade at the NBBO, but when they send the order to a market maker, the order also trades at or slightly better than the NBBO. Since the broker gets paid for the order it can afford to charge zero commissions. In this sense the customer is not disadvantaged.
Since most retail brokers sell their orders to market makers, nearly 50% of orders are executed away from the exchanges. As a result, liquidity at the exchanges has diminished and it is likely that the NBBO is now wider than it would be if all orders went to the exchanges. So although market makers do give a slight improvement over the NBBO, if they did not divert orders from the exchanges it is likely the NBBO would be narrower.
Lastly, many institutional traders do not want to show their orders at the exchanges for fear of driving the price away from themselves. Instead, they prefer to route these orders into Dark Pools. When brokers who do not sell their orders (but want to execute them at the best possible price), send the orders into Dark Pools, they often get an execution well inside, often even in the middle of, the NBBO. Seeking such executions is standard practice for IBKR Pro orders.
Many brokers maintain Dark Pools in which institutional traders can rest hidden orders. These hidden orders are not shown to anyone, but when a retail order comes in on the opposite side of the market, it can execute against a hidden order so long as the execution price would be at or inside the NBBO. By trading with each other directly, both the institutional trader and the retail customer benefit.
Unlike other brokers with separate bank accounts in which you must transfer cash back and forth, IBKR's cash management is integrated into our broker account. This means that you can always borrow at the lowest rates without having to worry about first transferring cash.
Canadian clients can now automatically borrow against their broker account at CAD 1.67% or less1, which is lower than credit cards, personal loans or home equity lines of credit2. Borrow without monthly minimum payments and without late fees by adding an Interactive Brokers Prepaid Mastercard Card to your account. The Interactive Brokers Prepaid Mastercard Card provides you with the convenience of accessing your account funds anywhere Prepaid Mastercard is accepted around the world.
To request a card, log in to Client Portal and navigate to the Transfer & Pay > Prepaid Card menu item.
This card is issued by Peoples Trust Company under license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
 Annual Percentage Rate (APR) on CAD margin loan balances as of 6/10/2021. Interactive Brokers calculates the interest charged on margin loans using the applicable rates for each interest rate tier listed on its website. For additional information on margin loan rates, see ibkr.ca/interest.
 Rates obtained on 6/10/2021 from Bankrate.com for average HELOC rate, average personal loan rate and average credit card rate from creditcards.com.
US-based clients can automatically borrow against their broker account at 1.59% or less1 without monthly minimum payments or late fees by adding an IBKR Debit Mastercard. The Interactive Brokers Debit Mastercard provides you with the convenience of accessing your account funds anywhere Debit Mastercard is accepted around the world.
To request a card, log in to Client Portal and navigate to the Transfer & Pay > Debit Card menu item.
 Annual Percentage Rate (APR) on USD margin loan balances as of 6/10/2021. Interactive Brokers calculates the interest charged on margin loans using the applicable rates for each interest rate tier listed on its website. For additional information on margin loan rates, see ibkr.com/interest.
We recently added functionality to IBKR Mobile, Trader Workstation (TWS) and Client Portal to deliver a powerful and seamless trading experience across our platforms, whether you are trading from your desktop or on-the-go.
Visit the Release Notes section of the Documentation page to find out more about recent enhancements.
The Interactive Brokers Mutual Funds Marketplace provides clients from over 200 countries and territories with access to more than 40,000 funds from 400 fund families, including Allianz, American Funds, BlackRock, Fidelity, Franklin Templeton, Invesco, MFS and PIMCO.
Unlike most firms, IBKR never charges a custody fee. In addition, we offer over 7,700 funds with no transaction fees and low, transparent commissions. Inside the US, commissions are the lesser of USD 14.95 or 3% of trade value, while fee funds outside the US are EUR 4.95 (or equivalent).
To help provide you with a broad selection of funds, we recently added the following fund families to the Marketplace:
In February 2021, Benzinga recognized Interactive Brokers as the Best Broker for Mutual Funds. Visit the Mutual Funds Marketplace to learn why.
Search for the best yields from a vast universe of bonds from issuers in the Americas, Europe and Asia in our Bonds Marketplace. IBKR provides direct market access at a low cost to a wide array of corporate, government and municipal securities. Our clients get the best bids and offers with low, transparent commissions and no hidden mark-ups.
Browse availability with our Bond Search Tool and:
Global Corporate Bonds
US Municipal Bonds
Non-US Sovereign Bonds
In February 2021, Benzinga recognized Interactive Brokers as the Best Broker for Bonds. Visit the Bonds Marketplace to learn why.
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Bridgeweave is a London based Fintech that creates breakthrough solutions for wealth and investments powered by AI. Their core product, InvestorAi, acts like your personal quant analyst, using machine learning and AI tools to sift through billions of elements of data, every day. It generates investment ideas or insights which are intuitive, affordable, easy to understand and available on your mobile phone.
Bridgeweave's competitive advantage is their vertical AI product, InvestorAi, which has been trained specifically for wealth and investments. With deep sector knowledge and expertise, InvestorAi delivers investment ideas/insights which are easy to use and understand.
To subscribe to InvestorAi, log in to Client Portal, click the Head/Shoulders icon in the upper right corner of the home page, click User Settings, click the gear icon next to Research Subscriptions and then click the gear icon next to Current GFIS Subscriptions.
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Seasonax is a leader in seasonal trading pattern analytics. The whole idea of Seasonax is to provide users with an easy tool and access to interpret data and to make their investment decisions. It is based on recurring seasonal patterns that can be identified in stocks, indices, FX, commodities during the entire calendar year. In other words, with two clicks the user can determine the best date when to buy and sell individual market instruments based on historical performance.
To subscribe to Seasonax, log in to Client Portal, click the Head/Shoulders icon in the upper right corner of the home page, click User Settings, click the gear icon next to Research Subscriptions and then click the gear icon next to Current GFIS Subscriptions.
TF International Securities Group is a wholly-owned subsidiary of TF Securities Co., Ltd. (“TF Securities”) in Hong Kong. TF International has established a strong presence in Hong Kong and serves clients from all around the globe to connect Chinese and global capitals. Subscription includes access to fundamental and economic research reports from Hong Kong and China.
TFI Securities is a complimentary service and does not require a subscription.
Updata is a market leader in the provision of technical analysis and automated trading software. The software is compatible with dozens of different data sources including Interactive Brokers right up to professional market terminals such as Bloomberg and Refinitiv Eikon. Users can run hundreds of different charts across multiple workspaces. The Technical Analysis tools cover all the bases including world leading point and figure. Automatic price targets are given with a single key press.
To subscribe to Updata, log in to Client Portal, click the Head/Shoulders icon in the upper right corner of the home page, click User Settings, click the gear icon next to Research Subscriptions and then click the gear icon next to Current GFIS Subscriptions.
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