Interactive brokers group, Inc. is a public brokerage firm that Chairman Thomas Peterffy founded over 43 years ago.
The company headquarters are in Greenwich, Connecticut, but it conducts its broker/dealer business on over 135 market destinations worldwide. Moreover, the company has 2,400+ employees in its offices in the U.S.A., Switzerland, Canada, Hong Kong, U.K., Australia, Hungary, Russia, Japan, India, China, Luxembourg, Singapore, Ireland, and Estonia.
From its early days to now, Interactive Brokers Group has grown to the current equity capital of over $10.01 billion. In a day, the company and its affiliates execute over 2,260 000 trades.
Interactive Brokers is ideal for institutional investors and sophisticated, active traders who want a robust trading platform and access to many asset classes.
What Do Interactive Brokers Do?
The company brokers an extensive lineup of trading products. These include stocks, funds, options, futures, forex, bonds, and EFPs across 33 countries. Additionally, it handles is up to 607,000 brokerage accounts.
Interactive Brokers also offers a special order of execution via its Smart Routing software. The software helps in searching for the best firm stock, option, and combination prices available. So that when one places an order it seeks to execute that order immediately.
The company also offers excellent trading tools like the Trader Workstation (T.W.S.) that help trade multiple products.
Currently, Interactive Brokers operates the largest economic trading platform in the U.S.A.
Bitcoin ETF and Interactive Brokers L.L.C.
While focusing on broad market access and superior trade execution, Interactive Brokers has provided facilities for the different markets, including crypto.
As the leading cryptocurrency, Bitcoin was recently launched for trading on the Interactive Brokers Group Inc platform.
As of the launch, the company said that its Registered Investment Advisors in the U.S, “Would trade and custody bitcoin, Ethereum, Litecoin, and bitcoin alongside stocks, options, futures, bonds, and mutual and exchange-traded funds.”
This means that the U.S.A. R.I.A.s would be able to manage their client’s positions in cryptocurrency in addition to stocks, options, futures, bonds, mutual funds and ETFs globally.
Steve Sanders, E.V.P. of Marketing and Product Development at Interactive Brokers further said,
“Adding cryptocurrency trading underscores our ongoing dedication to providing advisors with the investment products and tools they need to successfully manage client portfolios and grow their businesses.”
More additional features on the platform will include:
- No ticket charges, custodial fees, minimums, technology, software, platform, or reporting fees.
- From a single integrated master account, one should be able to trade stocks, options, futures, currencies, bonds, and funds. Cryptocurrency trading is also available on the same platform.
- Free portfolio management, C.R.M, and trading platform. Plus a PortfolioAnalyst®, that gives advisors the power to consolidate and analyze a client’s entire portfolio, including assets held at other institutions.
- Automated and flexible client billing.
- Free compliance and website building services.
- Debit Card and Bill Pay functions are available for U.S. advisor clients.
The crypto trading on Interactive Brokers is offered through Paxos Trusted Company, the first chartered company for digital assets.
The company also announced plans to launch the crypto service for financial advisors in other parts of the world.