Can I Buy Crypto with Interactive Brokers?

Yes, Interactive Brokers lets clients trade cryptocurrencies directly through its platform, with custody managed by regulated partners Paxos Trust Company and Zero Hash. Investors can buy and hold assets such as Bitcoin, Ethereum, Solana, XRP, and seven other tokens.

Beyond spot trading, IBKR offers cryptocurrency exchange-traded products (ETPs) like the iShares Bitcoin Trust (IBIT) and iShares Ethereum ETF (ETHA). Clients can also access Bitcoin and Ether futures, as well as options on futures. 

All products are available through the same account that supports global stocks, bonds, options, and currencies.

How to Enable Crypto on IBKR

Interactive Brokers clients must activate cryptocurrency trading permissions before gaining access to Bitcoin, Ethereum, and other supported assets. The setup is handled directly in the IBKR Client Portal and generally takes less than 24 hours.

Follow these steps to enable crypto trading:

1. Log in to Client Portal: Go to the User menu (top-right corner) and select Settings, then Tradin,g then Trading Permissions.
2. Add Crypto Permissions: In the permissions panel, choose Add/Edit under Cryptocurrencies.
3. Review Agreements: Read the Crypto Provider’s agreement and required disclosures, type your name in the Sign Here box, and continue.
4. Confirm Experience: Verify your trading background and confirm changes on the review page.
5. Wait for Approval: Permissions are usually approved within 24 hours, after which you can start trading crypto products through IBKR.

Interactive Brokers Crypto Trading Fees

Interactive Brokers is one of the lowest-cost platforms for cryptocurrency trading, charging 0.12% to 0.18% of trade value with a $1.75 minimum per order, capped at 1%. There are no added spreads, markups, custody fees, or account minimums.

Main costs for crypto trading on IBKR:

• Spot Crypto (BTC, ETH, SOL, ADA, AVAX, DOGE, XRP, LTC, LINK, SUI): 0.12%–0.18% commission with no hidden spreads.
• Crypto ETPs: $0 commission on funds such as iShares Bitcoin Trust (IBIT) and iShares Ethereum ETF (ETHA). IBKR Lite clients always pay $0 commissions, while IBKR Pro offers tiered rates from $0.0005 per share.
• Crypto Stocks: Shares of Coinbase (COIN), MicroStrategy (MSTR), Riot Platforms (RIOT) and others start at $0.0005 per share.
• Crypto Futures: Bitcoin and Ether futures, including micro contracts, trade at $0.25 to $0.85 per contract.
  Options on Crypto Futures: From $0.15 to $0.65 per US contract.

How to Buy Bitcoin & Crypto with Interactive Brokers Alternatives

While Interactive Brokers provides crypto access through spot trading, ETFs, futures, and options, some investors may want a dedicated exchange with more assets and staking rewards. 

The best regulated alternative is Kraken, a global exchange available in the US, UK, Europe, Australia, and Asia. Kraken supports over 460 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), and offers staking for passive income.

Here’s a quick guide to how you can buy crypto on Kraken:

1. Create an Account: Sign up on Kraken’s official website and complete identity verification (KYC).
2. Deposit Funds: Add USD or your local currency using a bank transfer or other supported payment methods.
3. Select Your Asset: Choose from over 460 cryptocurrencies, including BTC, ETH, and SOL.
4. Buy Crypto: Enter the purchase amount, review order details, and confirm the transaction.

Best Alternative Exchanges for IBKR Users

If you use Interactive Brokers for crypto exposure but want alternatives to Kraken, these regulated exchanges are strong options:

• Binance: One of the largest exchanges worldwide, Binance lists over 400 cryptocurrencies with trading fees around 0.1%. It offers deep liquidity, advanced trading tools, and strong security infrastructure.
• OKX: Supporting 300+ digital assets, OKX charges transparent fees from 0.08% to 0.1%. The platform is known for professional-grade trading features, robust security, and an intuitive mobile experience.
• Coinbase: A regulated platform with over 250 supported cryptocurrencies, Coinbase charges about 1.49% per trade. It is well-suited for beginner investors seeking ease of use, secure storage, and clear fee structures.

Risks of Using Interactive Brokers for Crypto

While Interactive Brokers provides regulated access to digital assets, there are specific risks investors should weigh before trading:

• Narrow Asset Coverage: IBKR supports only ten cryptocurrencies (BTC, ETH, SOL, ADA, AVAX, DOGE, XRP, LTC, LINK, SUI). While this reduces choice compared to major exchanges, it may also limit portfolio diversification.
• Third-Party Custody: Crypto trading and custody are managed by Paxos Trust Company or Zero Hash LLC, not IBKR itself. Paxos is a NYDFS-regulated trust company with clients like PayPal, while Zero Hash is a FinCEN-registered MSB licensed in multiple states and holder of a NYDFS BitLicense. Assets custodied with them are not SIPC-insured.
• No On-Chain Control: Investors cannot freely transfer coins to personal wallets through IBKR. Withdrawals depend on Paxos or Zero Hash, limiting full self-custody.
• Market Risks: Digital assets remain volatile, and products like futures and options carry significant loss potential.
• Regulatory Constraints: Access to spot crypto, ETPs, or futures varies by country, with some regions imposing restrictions.

About Interactive Brokers

Interactive Brokers (NASDAQ: IBKR) is a global brokerage with over 2.5 million clients and more than $430 billion in customer equity. The firm offers access to stocks, ETFs, options, futures, bonds, currencies, and cryptocurrencies, with digital asset trading supported through Paxos and Zero Hash.

Investors can also trade crypto ETPs, Bitcoin and Ether futures, and options, all from a single account. With low commissions, advanced trading platforms, and professional-grade tools, IBKR is recognized as one of the most comprehensive brokers for retail & institutional investors.

Final Thoughts

Interactive Brokers offers a secure, low-cost entry point to crypto, with spot trading, ETFs, and futures available in the same account as traditional assets.

However, its limited token coverage and reliance on Paxos or Zero Hash for custody mean some investors may need a secondary exchange. 

Using IBKR for regulated access and complementing it with platforms like Kraken, Binance, OKX, or Coinbase can balance low fees with broader market exposure and staking opportunities.