Interactive Brokers has integrated with UK-based remittance platform Wise to offer clients an augmented experience when depositing money in their trading accounts. This integration is made possible by Wise Platform, which allows banks and businesses to leverage Wise’s global payments infrastructure, and makes global investing easier by allowing clients to save money on transfer fees when investing in their choice of 150 international markets worldwide through a quick and easy service.

An augmented way of funding trading accounts Because of this partnership, clients of Interactive Brokers can now also elect to ‘Pay with Wise’, which enables them to convert their local currency to an Interactive Brokers-supported currency at the true mid-market exchange rate, free from hidden fees and markups 一 all without leaving their IBKR platform. Additionally, clients can transfer directly from balances in their linked Wise accounts. Customers may receive their money in the chosen currency in a matter of seconds — over 50% of all transfers globally sent on Wise are instant (arriving in less than 20 seconds), as per the press release.

Together, these features help reduce transfer fees and shorten the time clients of Interactive Brokers need to move funds between their bank accounts and their trading accounts. Officials from Wise said that their integration with Interactive Brokers will make investing in global stocks through IBKR’s platform affordable and fast for users all over the world. Customers will be able to see exactly how much they are paying to move their money into different currencies, which means greater peace of mind and a better return on investment.

Also commenting on the partnership, representatives from Interactive Brokers stated that Interactive Brokers serves over two million self-directed investors and active traders in 200+ countries and territories. With the Wise integration, they can offer account funding in more local currencies, enabling greater participation in global markets, diversification of investments, and added protection against local economic uncertainty - all on Interactive Brokers’ single unified platform. .