Interactive Brokers adds options trading to mobile apps

“The simplicity of the IBKR GlobalTrader and IMPACT apps along with the guidance of the options tools provide any investor with an easy way to learn and start trading options.”

Interactive Brokers has introduced options trading and the Options Wizard and Options Chain tools in the IBKR GlobalTrader and IMPACT applications.

The offer will initially remain exclusive for clients, but the brokerage company plans to add options trading in IBKR GlobalTrader and IMPACT in other entities soon.

IBKR launches in-app options and educational resources

IBKR GlobalTrader is a mobile trading application allowing investors to trade stocks and now options. IMPACT by Interactive Brokers is a specialized app for ESG-focused investors.

Both apps have been designed to be user-friendly and now include the new Options Wizard and Options Chain tools to help investors understand how options work and how to trade them.

The Options Wizard helps investors create their own combination strategies. Investors answer a few simple questions and select options strategies based on their preferences and market expectations. The Options Chain offers more independent investors a way to choose a single option or build a step-by-step strategy from a simplified view.

Steve Sanders, Executive Vice President of Marketing and Product Development at Interactive Brokers, said, “We continue to develop tools to help investors make informed investment decisions that can enhance their trading strategies. The simplicity of the IBKR GlobalTrader and IMPACT apps along with the guidance of the options tools provide any investor with an easy way to learn and start trading options.

In recent years, brokers have introduced new options trading offerings that are more attractive than ever to retail investors. A common topic in the post-pandemic trading industry is the concern that new traders are not well prepared to get into options trading.

The new educational resources offered by IBKR can allay these concerns and improve investors’ chances of profiting from trading, staying for the long haul instead of blowing up their accounts and moving on.

IBKR announced Crypto 24/7 to address underlying issues

Interactive Brokers recently expanded access to crypto trading, with extended 24/7 access, including weekends. The broker offers its clients low-cost cryptocurrency trading through a partnership with Paxos, a New York-based exchange and stablecoin issuer.

The changes implemented by Interactive Brokers help address some of the underlying issues that have made it difficult for traders to gain access to 24-hour cryptocurrency trading. Namely, extended trading hours eliminate the inconvenience of carry positions from week to week without weekend quotes.

Continuous cryptocurrency trading is available through the company’s trading platforms, including Trader Workstation, Client Portal, IBKR Mobile and IBKR GlobalTrader, IBKR’s mobile app for global stock trading, as well as through the Paxos web app.

The new crypto features are available to US residents and customers in over 100 countries with individual or joint accounts, as well as certain types of institutional accounts.

Through Paxos, Interactive Brokers customers can trade cryptocurrency for commissions of 0.12% to 0.18% of the trade value, with a minimum of $1.75 per order. There are no spreads, markups or additional custody fees.

Casey J. Nelson