Interactive Brokers’ financial advisers are now able to recommend cryptocurrency investments to their clients and will be able to trade four cryptocurrencies.
Interactive Brokers’ Registered Investment Advisers will be able to trade and custody Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) for clients utilizing Paxos Trust Company, according to a statement made on Oct. 18.
This service is currently only available to the firm’s advisers in the United States, but it plans to expand to include crypto trading for all clients 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.”
Interactive Brokers, which is headquartered in the United States, is regulated by the Securities and Exchange Commission and the Financial Industry Regulatory Authority. The firm had 1.54 million client accounts with $353.8 billion in equity as of Oct. 1.
