Interactive Brokers To Expand Its Offerings Further
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Interactive Brokers is planning to broaden the number of offered markets. The automated global electronic brokerage platform will allow its clients to access shares trading on Nasdaq Copenhagen (CPH) and the Prague Stock Exchange (PSE).
Interactive Brokers set to broaden offerings in Europe
Interactive Brokers is a brokerage platform that targets clients across 200 countries and territories. The broker is currently extending its offerings to more than 150 markets globally. Clients will have access to Danish and Czech stocks that will expand the investment options available.
The CEO of Interactive Brokers, Milan Galik, said, “Clients seeking to diversify and take advantage of new trading opportunities across geographies in Europe and around the world can now add Danish and Czech stocks to their portfolios while benefiting from Interactive Brokers’ low costs and the ability to trade products across asset classes from a single unified platform.”
The executive further opined that the addition of these two new markets proved that the company was committed to giving its clients access to a wide range of investment products and growing their portfolios.
The commission on Danish stocks will range between 0.015% and 0.05% of the value of the trade. The minimum value per order has been set at DKK 10.00 for tiered pricing, depending on the monthly volumes. For the fixed pricing, there will be a 0.05% of trade value, with the minimum value per order being DKK 49.00.
On the other hand, the broker has set the fixed commission for Czech stocks at 0.15% of the trade value, with the minimum value per order being CZK 70. Interactive Brokers currently supports stocks and exchange-traded funds (ETFs) from 20 European countries, such as France, Germany, Hungary, Poland, Spain, and Sweden.
Interactive Brokers clients will also fund and trade accounts using up to 26 currencies, such as the Danish Krone (DKK) and the Czech Koruna (CZK). Investors can only buy fractions of whole shares for Danish stocks.
Interactive Brokers is growing its presence
The broker has offered fractional shares trading over the last four years. It was among the first leading retail brokers in the US to launch this offering. In 2022, the broker set up a new office in Ireland to boost its local presence.
In May, Interactive Brokers reported a 5% growth in DARTS to 1.86 million. During the month, the number of client accounts also increased by 2% to reach 2.26 million. This growth can be attributed to the broker expanding its offerings.
Recently, Interactive Brokers launched crypto trading services in Hong Kong. The integration of new digital assets on the platform coincided with an increased interest in these services from clients.
In February this year, the broker also set up a new instrument known as the Stock Yield Enhancement Program (SYEP) Derivatives. This instrument targeted traders and investors based in Australia. The product enables traders to loan their stock shares for cash collateral deposits that show the potential earnings from share lending activities.
