Interactive Brokers is one of the largest American e-commerce companies.with over 2.1 million clients and 3 million trades per trading day as of 2023. The company offers trading in 150 markets, including stocks, bonds, mutual funds, options, futures contracts, options on futures, currencies , cryptocurrencies, contracts for difference. derivatives, exchanging futures for physical goods, and event-based trading contracts about elections and other outcomes.
Interactive Brokers has been deeply involved in the cryptocurrency market since its rise. Depending on their plan, customers can operate with four or eight cryptocurrencies through Pacos Trust Company and Zero Hash. The four main cryptocurrencies offered are: 1. bitcoin, 2. ethereum, 3. Litecoin and 4. bitcoin Cash. With some of the lowest fees on the market, the broker offers 24/7 crypto trading through its partner apps.
Interactive Brokers offers futures contracts for both bitcoin and ethereum. bitcoin contracts cost $5 for 5 coins per contract, while ethereum contracts cost $3 for 50 coins per contract.
IB Expands to Dubai, Offers Lowest crypto Fees
With the opening of a new office in Dubai (October 16, 2024), Interactive Brokers has brought its presence to the Middle East. With an existing profitable brokerage strategy, it now magnetically attracts high net worth investors and a variety of wealth management institutes including banks, hedge funds and many more. This predicts a better future for Interactive Brokers in the global market.
Additionally, when digging deeper into the cryptocurrency trades carried out by Interactive Brokers, they tend to have the lowest trading fees, ranging from 0.12% to 0.18% of the trade value with a minimum of $1.75 per order, outperforming all competitors in the current market.
Interactive Brokers Sees 19% Growth and Expands Globally Into crypto
With a recent quarter result, Interactive Brokers showed a huge growth of 19% over the same period last year, with reported revenue of 1.37 billion in the September 2024 quarter result. The key advantage of the broker is the talk of city as it offers trading in cryptocurrencies, stocks, options, futures and ETFs, which turned out to be a very strategic decision compared to competitors in the market that offer cryptocurrencies or stocks. a single platform.
Continued strategic growth planning has helped Interactive brokers benefit from global demand by entering the UK and now Dubai, leveraging competitive pricing as an advantage. With the demand for cryptocurrency trading, the launch of cryptocurrency option turned out to be the advantage as it helped in attracting customers from small to large scale.
Prioritizing security and meeting regulatory standards helped instantly gain investor trust as it was a major concern in the cryptocurrency industry, while also providing educational resources to help customers with the complexities. of cryptocurrency trading, making it accessible to new investors and traders.
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