Can you buy Bitcoin on Interactive Brokers?

Depending on the type of trading permission you have, you can trade either 4 or 8 different cryptocurrency coins at IBKR.

For the Crypto Basic trading permission, the following 4 coins are available: 

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Ethereum (ETH)
• Litecoin (LTC)

If you sign up for the Crypto Plus trading permission, you will gain access to 4 additional coins:

• Chainlink (LINK)
• Polygon (MATIC)
• Uniswap (UNI)
• Aave (AAVE)

Before your first trade

In order to start trading crypto, you need to sign a special amendment to your IBKR agreement called a trading permission, and sign the contract with Paxos, an external crypto trading provider. This should be approved by IBKR within 24 hours.

Because of this, expect that you might not be able to execute your very first trade right away. However, after you have the above agreements signed and approved, your subsequent orders will be executed normally.

Here's what you'll see when you first try to trade crypto: 

Trading permissions

There are two types of trading permissions you can choose for cryptocurrency trading:

• Crypto Basic:
  • trade with 4 coins (BTC, BCH, ETH, LTC)
  • on the IBKR trading platforms
• Crypto Plus:
  • access to 4 additional coins (LINK, MATIC, UNI, AAVE)
  • use Paxos web app
  • allows 24/7 cryptocurrency trading access
  • allows you to transfer and hold USD in your Paxos account
  • supports non-marketable buy limit orders
  • account needs to be pre-funded (This means you are required to have USD in your Paxos account to fund your crypto buy trades. You "pre-fund" your account by transferring money from your linked IBKR account within the Paxos web app.)

Read more about how to change trading permissions at IBKR.

Cryptocurrency trading with Paxos at Interactive Brokers has a low commission of just 0.12% to 0.18% of trade value. Plus, there are no added spreads, markups or custody fees.

There is however a $1.75 minimum per order (capped at 1% of trade value).

The following is a step-by-step guide to trading cryptocurrency at Interactive Brokers on the IB platform:

1. Open the Client Portal on your IB account

2. Look for the symbol search bar and enter the product you are looking for

3. Click on 'Buy', and select your order type, amount, and so on

There are a number of key differences between Interactive Brokers and a crypto exchange service. Just to name a few:

• A crypto exchange service is not regulated by financial authorities, it is still a new, unregulated industry. There is a higher risk of exchanges being hacked and crypto assets stolen, which greatly decreases their safety.
• Interactive Brokers introduced in 2021 trading in "real" coins instead of ETNs and derivatives, through a partnership with Paxos. Only a few brokers currently provide trading in real coins.
• Crypto service exchanges usually charge higher fees than brokers like Interactive Brokers.
• Withdrawal and deposit charges at crypto exchanges are much higher than at Interactive Brokers. Also, unused cash is not covered by investor protection at crypto exchanges.

Interactive Brokers: further reading

• Interactive Brokers review
• How to trade after hours on Interactive Brokers
• How to buy ETF on Interactive Brokers
• Why is Interactive brokers so cheap?
• How to use Interactive Brokers for paper trading
• How to withdraw funds from Interactive Brokers
• How to convert currency on Interactive Brokers?
• How to change trading permissions at Interactive Brokers?
• What is the cost of buying US stocks at Interactive Brokers?
• How to download Interactive Brokers's TWS?
• Interactive Brokers fees explained
• Interactive Brokers account opening
• Interactive Brokers margin rates
• Is Interactive Brokers good for beginners?
• Is Interactive Brokers free?
• Can you trade options at Interactive Brokers?
• Interactive Brokers minimum deposit

Can I buy Bitcoin through Interactive Brokers?

Yes. IBKR has made available a small selection of cryptocurrencies (4 coins) to be traded directly through their platform. It's available both on desktop, mobile and web. If you choose the Crypto Plus plan, you can trade 4 additional coins using the Paxos web app.

How do I get permission to trade Bitcoin on Interactive Brokers?

You need to sign an amendment to your IBKR license agreement, which can be requested in your "trading permissions" settings after you logged in. Not all countries are supported though, so if you are not a US resident, there's a good chance you won't be able to trade. Here's the official list of available countries.

Can I buy cryptocurrencies on IBKR from the EU?

No. European Union country residents are not eligible to trade crypto at Interactive Brokers. Crypto trading is only available for a few European countries, such as Montenegro, Serbia and the Republic of Moldova. Check the full list of available countries. 

Can I buy cryptocurrencies on IBKR from the United States?

Yes. Since 2021, after signing an amendment to the IBKR user agreement and acknowledging that your trades will be handled by a third party provider, you can trade a handful of cryptocurrencies at Interactive Brokers, including Bitcoin, directly from the IBKR platforms. 

Can IBKR be used only for crypto trading?

No. To keep your permission to trade Bitcoin and other cryptocurrencies at IBKR, the broker requires you to maintain at least half of your account activity in something other than crypto.

What accounts are eligible to trade cryptocurrencies at IBKR?

All eligible Interactive Brokers clients with individual or joint accounts can trade cryptocurrencies under either the Crypto Basic or Crypto Plus trading permission.

What trading permissions do I need to trade Bitcoin futures on IBKR?

To trade Bitcoin futures at IBKR, you need to be a US resident and request a trading permission that coveres "Futures" products. You also need to check the boxes for "United States" and "United States (Crypto)".

Which broker is best for Bitcoin?

Check our latest list of best crypto brokers to find out which broker is currently best for Bitcoin according to BrokerChooser experts.