Interactive Brokers began allowing crypto buys and sells 24/7, including weekends with lower fees and smaller commissions.
Interactive Brokers makes it easy for clients to access cryptocurrency trading by extending trading hours for cryptocurrency products to 24/7, including on weekends.
Previously, cryptocurrency traders at Interactive Brokers could only trade until Friday, and extended to the following week. This is done to prevent potential gaps that could be created by clients to reflect price changes while IBKR trades are closed outside of trading hours.
Additionally, IBKR crypto traders can now enjoy low trading fees through a partnership with Paxos, a New York-based stablecoin issuer and exchange. With Paxos, Interactive Brokers clients’ commissions when trading cryptocurrencies are only 0.12% – 0.18% of the trade value, with a minimum of $1.75 per order. Plus, there are no extra spreads, markups, or custody fees.
The changes that occur are expected to solve some of the fundamental problems that make it difficult for clients to trade cryptocurrencies all the time. Thanks to extended trading hours, clients no longer need to carry positions from one week to the next without weekend quotes.
"This gives our clients a simple and low-cost way to access crypto markets at any time. With the added ability to pre-fund accounts, our clients have greater flexibility to react to market events and manage their cryptocurrency exposure,” said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers.