To trade cryptocurrencies, you must become a client of Cryptocurrency Service Providers. When you trade cryptocurrency through the IBKR platform, although IBKR acts as your cashiering agent, IBKR has no custody or control over the cryptocurrency assets you hold in your account at Cryptocurrency Service Providers.Cryptocurrency Service Providers are your counterparty for all cryptocurrency trades executed at Cryptocurrency Service Providers and is your custodian for all cryptocurrency assets, and none of the legal protections associated with your securities account at IBKR (such as insurance under the Securities Investor Protection Act and/or Financial Services Compensation Scheme (FSCS)) apply to those cryptocurrency assets.
All exchange and custody services in connection with trading and holding cryptocurrency tokens and other digital asset tokens through IBKR trading platforms are provided by Cryptocurrency Service Providers. Learn more.