Cryptocurrency Trading at Interactive Brokers Hong Kong
How do I trade cryptocurrency with Interactive Brokers HK?
Before you can trade cryptocurrencies, you need to log into Client Portal and request Cryptocurrency trading permissions. To add the trading permissions:
- Login into Client Portal and selecting the User menu (head and shoulders icon in the top right corner) followed by Settings
- Under Account Settings find the Trading section and click on Trading Permissions.
- Select Cryptocurrency permissions and complete the steps on screen.
Please note, you must be a “Professional” Investor in order to be eligible for Cryptocurrency trading permissions.
Once trading permissions are approved you will be able to trade Bitcoin (BTC) or Ethereum (ETH) in the same way that you trade other products via your Interactive Brokers HK account. Search for the symbol and open it in Quote Details or add it to your Watchlist. Select the symbol to trade, then complete the available parameters to create and then submit the order.
What cryptocurrencies can I trade with Interactive Brokers HK?
Interactive Brokers HK currently offers trading in Bitcoin (BTC) and Ethereum (ETH).
Where are my cryptocurrency assets held?
Cryptocurrency trading through Interactive Brokers Hong Kong is powered by OSL Digital Securities, the world's first Type 1 and 7 Securities and Futures Commission (SFC)-licensed digital asset brokerage and trading platform for professional investors. Interactive Brokers HK customer positions will be maintained 100% in wallets in cold storage with OSL Digital Securities.
What are the trading hours for crypto trading?
IBHK supports cryptocurrency opening and closing trades from Sunday at 3 AM EST through Friday at 4PM EST.
Only closing trades (sells) are supported from Friday at 4 PM EST through Sunday at 3 AM EST.
Who is eligible to trade cryptocurrency with Interactive Brokers HK?
You must be a Professional Investor in order to qualify for Cryptocurrency trading. Eligible clients include individuals with over HKD 8 million in investable assets or institutions with assets greater than HKD 40 million who are residents of Hong Kong.
Are there added spreads or markups for cryptocurrency trades? What are the commissions on crypto trades?
No, there are no added spreads or markups. Cryptocurrency trading on Interactive Brokers’ platform has a low commission of just 0.20% to 0.30% of trade value depending on monthly trade volume with a USD 2.25 minimum per order.
A monthly custody fee of 8 basis points will also be charged on the average daily value of cryptocurrency held in your account.
What order types can I use for cryptocurrency orders?
You can trade cryptocurrencies only using Market or Limit orders. Market orders can be submitted in cash value only (e.g. $10000 worth of BTC). Limit orders can be submitted in either trade value or quantity terms, but the entered trade value will be converted to quantity and transmitted to OSL in quantity terms.
Are cryptocurrency positions marginable?
No, cryptocurrency positions are not marginable.
Can I deposit Bitcoin into/withdraw Bitcoin from my Interactive Brokers HK account?
No, deposits and withdrawals in Bitcoin/Ethereum are not supported.
Are there limits on the amount of cryptocurrency that can be traded/held in my Interactive Brokers HK account?
Cryptocurrency trading is limited to the lesser of 10% of the account’s total equity or USD 1 million.
Can I short-sell cryptocurrencies in my Interactive Brokers HK account?
No, IBHK does not support the short-selling of cryptocurrencies.
How long does it take for cryptocurrency trades to settle at Interactive Brokers HK?
Cryptocurrency trades settle in real time.
What is the minimum order size for cryptocurrency trades at Interactive Brokers HK?
The minimum order size for cryptocurrency trades at Interactive Brokers HK is USD 10.
What times-in-force can I use when trading cryptocurrencies with Interactive Brokers HK?
Times-in-force for BUY limit orders:
- IOC: Immediate or cancel
- Minutes: Order is canceled if not filled within five (5) minutes.
Times-in-force for SELL orders:
- IOC: Immediate or cancel
- Minutes: Order is canceled if not filled within five (5) minutes.
- Day: Order is canceled if not filled by the end of the trading day.
- GTC: Good til Canceled