Interactive Brokers, an online brokerage firm, has expanded its cryptocurrency offerings, adding Solana (SOL), Cardano (ADA), Ripple (XRP), and Dogecoin (DOGE) to its trading platform. This move increases the total number of available cryptocurrencies on the platform to eight, which already included Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
According to a recent press release by Interactive Brokers, this expansion aims to provide clients with “even more flexibility to diversify their portfolios and take advantage of opportunities across digital assets.” Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, said that this addition, “combined with our low-cost structure and powerful trading tools, reflects our ongoing commitment to offering clients a comprehensive and efficient trading experience.”
The newly listed tokens are accessible to clients with accounts at Zero Hash LLC, while Solana is also available for those with Paxos Trust Company accounts. This allows eligible clients in the US and the UK to trade these cryptocurrencies alongside other traditional assets like stocks, options, futures, and bonds on a single platform. The company emphasizes the benefit of a “unified interface that displays all balances and positions in a single view, simplifying portfolio and cash management.”
Interactive Brokers also highlights its competitive pricing, noting that its cryptocurrency trading costs are “less than leading cryptocurrency exchanges and online brokers.” Commissions range from 0.12% to 0.18% of the trade value, with a minimum of $1.75 per order, and the company states there are “no added spreads, markups, or custody fees.”
This expansion comes at a time when Interactive Brokers is experiencing significant growth. The company reported a 48% year-over-year increase in Daily Average Revenue Trades (DARTs) in the previous month, reaching 3.617 million.
