Interactive Brokers’ financial advisers in the United States can now offer cryptocurrency investments to their customers.
Besides, financial consultants who are registered with Interactive Brokers Group will be able to buy and sell four cryptocurrencies.
The plan is to launch crypto trading for global clients in the future
In fact, Interactive Brokers’ Registered Investment Advisers will be able to buy and sell and custody Bitcoin (BTC). As well as Ethereum (ETH), Bitcoin Cash (BCH). And Litecoin (LTC) for individuals utilizing Paxos Trust Company, according to a statement made on Oct. 18. This service is accessible only to the firm’s advisers in the United States, but it plans to expand to include crypto trading for all users in the future.
“Allocating a small percentage of assets to cryptocurrency as part of a well-diversified portfolio has steadily become more commonplace”, said Interactive Brokers executive vice president of marketing and product development Steve Sanders. “Advisors may wish to recommend cryptocurrency to their clients”.
Unregulated crypto exchanges and broker disintermediation are serious problems
Interactive Brokers, which headquartered in the US, is a legitimate firm according to the SEC and the Financial Industry Regulatory Authority. The firm had 1.54 million customer accounts with $353.8 billion in equity since around Oct. 1.