I noticed they rolled out a new digital currency trading option through a partnership with a third-party provider. From what I understand, it only allows buying crypto without margin or leverage capabilities. I’m curious about a few things though. First, are we actually getting real cryptocurrency ownership or is this more like a derivative product? Also, since they’re using an external wallet service, I’m wondering about the security aspects. Has anyone here given it a try yet and can share their experience with how it actually works?
oh interesting timing on this post! i was literally just browsing through my IB platform yesterday and saw this crypto thing pop up but didnt dive into it yet.
What caught my attention is you mentioning the third-party provider aspect - do you happen to know which company they partnered with for this? I’m always a bit cautious when brokers start outsourcing stuff like this, especially with crypto where things can get messy real quick.
Also im curious about the fee structure - did you notice if they’re charging their usual commission setup or is it more like a spread-based thing? And what coins are even available through this setup? I’m assuming its just the big names like BTC and ETH but would be cool to know if they have any of the smaller cap stuff.
The no-margin thing actually sounds kinda refreshing tbh, less ways to blow up your account lol. But yeah the custody question you raised is pretty important - are we talking about some kind of omnibus account situation or do users get individual wallet addresses?
really hoping someone who’s actually used it chimes in here because the marketing materials never tell you the real story about how smooth (or not) the actual trading experience is.
jumped on this last week actually - its pretty straightforward but feels more like buying crypto stocks than actual crypto tbh. you dont get private keys or anything, just shows up in your portfolio like any other holding. fees seem reasonable tho, around 0.25% i think? only btc/eth/ltc available so far which is kinda limiting.