Interactive Brokers adds options trading to mobile apps

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

The offering will first remain an exclusive for clients, but the brokerage firm has plans to add options trading in IBKR GlobalTrader and IMPACT in other entities soon.

IBKR launches options in-app and educational resources

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

Both apps were 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 respond to a few simple questions and select options strategies based on their preferences and market expectations. The Options Chain provides more independent investors with a way to choose a single option or build a strategy leg-by-leg from a streamlined view.

Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, said: “We continue to develop tools enabling investors to make informed investment decisions that can enhance their trading strategies. The simplicity of the IBKR GlobalTrader and IMPACT apps plus guidance from the options tools give any investor a straightforward way to learn about and start trading options.”

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

The new educational resources offered by IBKR may ease these concerns and improve investors chances’ of making a profit from trading, thus staying for the long run instead of blowing their accounts and moving on.

IBKR announced Crypto 24/7 to address underlying issues

Interactive Brokers has recently widened access to crypto trading, having extended access to 24/7, which includes weekends. The broker offers low-cost cryptocurrency trading to its clients via partnership with New York-based exchange and stablecoin issuer, Paxos.

The changes applied by Interactive Brokers help resolve some of the underlying issues that have made it challenging for traders to have access to cryptocurrency trading around the clock. Namely, the extended trading hours eliminate the inconvenience of carrying positions from one week to the next without weekend quotes.

Non-stop cryptocurrency trading is available via 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 application.

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

Through Paxos, Interactive Brokers clients are able to trade cryptocurrency at a commissions of 0.12% – 0.18% of trade value, with a $1.75 minimum per order. There are no added spreads, markups, or custody fees.