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Brokerage Giant Interactive Brokers Launches Crypto Trading for American Financial Advisors

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Mon, 18/10/2021 - 14:40
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Brokerage Giant Interactive Brokers Launches Crypto Trading for American Financial Advisors
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Brokerage giant Interactive Brokers has announced that registered financial advisors from the U.S. will now be able to use the platform in order to trade cryptocurrencies on behalf of their clients, according to an Oct. 18 press release.

The list of available digital assets includes Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

One of the leading online brokerage companies, which competes with the likes of Fidelity and TD Ameritrade, enabled support for cryptocurrency trading after partnering with a blockchain infrastructure firm named Paxos.

Steve Sanders, the company's executive vice president of marketing and product development, acknowledged the growing importance of cryptocurrencies in diversified portfolios:

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Allocating a small percentage of assets to cryptocurrency as part of a well-diversified portfolio has steadily become more commonplace, and advisors may wish to recommend cryptocurrency to their clients.

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According to a survey published this June, 49% of financial advisors said that they had received inquiries from clients about investing in cryptocurrencies.

Yet only 14% of them recommended that their users diversify their portfolios with the help of digital assets.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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