Trading Cryptocurrency Futures with IBKR

What is the trading symbol?

CME (Bitcoin Futures): Enter the underlying symbol BRR in order to bring up the futures

CME (Ether Futures): Enter the underlying symbol ETHUSDRR to bring up the futures

ICE (Bakkt® Bitcoin Futures): Enter the underlying symbol BAKKT to bring up the futures

 

What are the trading hours?

CME: 17:00 – 16:00 Chicago Time, Sunday – Friday

ICE: 19:00-17:00 Chicago Time, Sunday – Friday

Please note, if you wish to trade outside of regular trading hours or have your order triggered outside of regular trading hours you must configure your order accordingly. You can do so using the following steps:

  • Through Futures Order Presets. In Classic TWS, click Edit followed by Global Configuration. In Mosaic, click File followed by Global Configuration. Expand the Presets section on the left side and select Futures. The first section will be Timing, and you will want to check the box that says "Allow order to be activated, triggered, or filled outside of regular trading hours (if available)". Click Apply and OK once finished.
  • Through the order line. In both Classic TWS as well as Mosaic, click on the Time in Force field and check the box at the bottom that says "Trigger outside RTH". In WebTrader, check the box at the end of the order line that says "Fill Outside RTH".
  • Through the Order Ticket. In the Time in Force section, check the box that says "Allow this order to be filled outside of regular trading hours".

Please see the following link for more information on trading futures outside of regular trading hours:
https://www.interactivebrokers.com/en/index.php?f=719

 

Where can I find information about the contract specifications?

CME (Bitcoin Futures): http://www.cmegroup.com/trading/bitcoin-futures.html?itm_source=cmegroup&itm_medium=flyout&itm_campaign=bitcoin&itm_content=tech_flyout

CME (Ether Futures): https://www.cmegroup.com/trading/ether-futures.html

ICE (Bakkt® Bitcoin Futures): https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contact

 

Will there be any restrictions on trading?

Trading will not be offered in retirement accounts (e.g., IRA, SIPP) or for residents of Japan.

 

What is the Margin Requirement?

The margin requirement for outright long positions will be set at 50% of the prior day's lead month settlement price. In the case of outright short positions, the margin rate will be 100% of the daily settlement price.

Spread Margin: The net difference between the outright customer maintenance margin requirements on each long and short contracts (using 50% for both the long and the short leg) plus, for each spread, a spread charge equal to 25% of the daily settlement price that is the greatest among all XBT futures contracts available for trading.

Clients are reminded that IBKR does not issue margin calls and may modify margin requirements at any time, at IBKR's sole discretion.

Please refer to the following section of the IBKR website for current margin requirements for all products: https://www.interactivebrokers.com/en/index.php?f=24176

 

What are the commissions?

The commission rate for Crypocurrency futures will be USD 10 per contract for the CME and ICE products. IBKR will pass through exchange, regulatory and clearing fees.

For more information on commission as well as exchange, regulatory and clearing fees, please visit the Commission page of our website:
https://www.interactivebrokers.com/en/index.php?f=commission&p=futures1

 

What trading permissions are required?

To trade Crypocurrency futures, you must have trading permissions for US Crypto Futures. You can request US Crypto Futures trading permission in Client Portal by clicking the User menu (head and shoulders icon in the top right corner) followed by Manage Account. Click the gear icon in the top right corner of the Trading Experience & Permissions section. Go to the "Futures" section and check off "United States (Crypto)".

 

What are the market data subscription options?

Live quotes for Crypocurrency futures are available on a paid subscription basis through Client Portal. The following subscriptions are offered (monthly subscription fees are posted to the IBKR website):

CME (Exchange = CME. IB Exchange = CMECRYPTO)

Non-Professional

  • Level 1: CME Real-Time Non-Professional Level 1
  • Level 1: US Securities Snapshot and Futures Value Bundle (NP,L1)
  • Level 2: CME Real-Time Non-Professional Level 2
  • Level 2: US Value Bundle PLUS (NP,L2)
    • Requires US Securities Snapshot and Futures Value Bundle
    • This is only for depth of book

Professional

  • Level 2: CME Real-Time Professional Level 2 (There is no CME Pro level 1 product)

ICE (Exchange = ICE, IB Exchange = ICECRYPTO)

  • Level 2: ICE Futures US - Digital Asset Futures Level 2 (There is no level 1 available for either professional or professional)

 

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