Automated global electronic broker Interactive Brokers today announced the launch of cryptocurrency trading in Hong Kong. The America-based firm revealed the launch of digital services follows growing interest shown by investor clients.
Interactive Brokers will allow professional investors using Interactive Brokers Hong Kong to trade two cryptocurrencies – Bitcoin (BTC) and Ethereum (ETH).
Eligible clients need to be residents of Hong Kong and have more than HKD 8 million in investable assets or institutions with assets greater than HKD 40 million.
Interactive Brokers Hong Kong’s new crypto trading has commissions of 0.20% – 0.30% of trade value, which also depends. Additionally, there is a $2.25 minimum per order charge with no added spreads or markups.
David Friedland, Head of APAC at Interactive Brokers, said:
Investor demand for digital assets continues to grow in Hong Kong and around the world, and we are pleased to introduce cryptocurrency to address the trading objectives of clients in this important market. Eligible clients will benefit from our low costs and the ability to trade crypto alongside many other global products from a single unified platform.
Interactive Brokers’ new crypto trading service is backed by Type 1 and 7 Securities and Futures Commission (SFC)-licensed digital asset brokerage, OSL Digital Securities.
Hugh Madden, CEO at BC Group and OSL, added:
We are excited to bring our expertise in the digital asset space to the market through these initiatives. The launch of regulated digital asset trading services marks the inception of a transformative process in the digital asset market. We eagerly anticipate the emergence of additional market alliances that will drive growth and increase market share.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.