Interactive Brokers introduced a new global trading app that can rival Robinhood's app.
According to the brokerage firm, the IBKR GlobalTrader platform is created to cater to the needs of "novice" investors. It can allow crypto deposits for up to 23 various digital coins for the customers.
Interactive Brokers Launches New Trading App
The financial market, as we know, is well-known for its trading practices. As of this moment, Robinhood is one of the leading trading platforms where investors usually go when making crypto transactions with other people.
According to the latest report by Bloomberg, the Interactive Brokers launched a new user-friendly app that could rival Robinhood.
The largest e-trading platform in the United States said that it's intended for those investors who are still starting in the field of trading.
"We view it as a way to attract a new audience that's used to something simpler. Our other platforms have lots of features, but some people may find them complex," Interactive Brokers executive VP of marketing and product development at Interactive Brokers Steve Sanders said.
In a similar report, the publication noted that the company already has over 1.75 million accounts which came from over 200 countries. Sanders took note that the average age of an account holder in their platform is 42 years old.
Speaking of the average account balance, the executive official estimated that it's around $200,000.
Related Article: Robinhood Faces 458% Spike in Crypto Customers--Massive Increase from 1.7 Million to 9.5 Million in Q1 of 2021
IBRK GlobalTrader App Features and Tools
In a separate article written by Business Wire, the interested users who want to explore the new IBKR GlobalTrader app from Interactive Brokers could go to app stores to download it.
As of press time, you can download it on the Google Play Store and Apple App Store. There's no need to worry about the signing process since there's a free trial for every investor.
Regarding its tools and features, here's what you need to see about this new trading application.
Free educational resources - Check IBKR Campus for more extensive programs about trading and investing
Cryptocurrency trading - Through Paxos Trust Company, you can trade various digital coins such as Bitcoin, Litecoin, and Ethereum
Fractional shares - For as low as $1, you can invest right away in the US shares
Swap - Buying and selling stocks now made easier
For the latest news, tech billionaire Bill Gates surprisingly went viral once again after his "old interview" surfaced online. The video was all about this warning about Elon Musk's influence on the blockchain space.
In the footage, the business tycoon stated that Elon has "tons" of money, citing that the Tesla CEO is kind of sophisticated as well. He added that he did not have to worry about his BTC investment for that reason.
Gates continued that users who are growing interested in this kind of investment should be more careful since the rich people control the flow of cryptocurrencies.
Read Also: British Stock Trading App 'Freetrade' Early Crowdfunders Have Stakes Worth at Least $1.3 Million Each
This article is owned by Tech Times
Written by Joseph Henry
