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Wise and Interactive Brokers team up to make global investing easier

By Gloria Methri

April 05, 2023

  • Electronic Broker
  • FinTech
  • Global Payments Infrastructure

Wise, Global Payments Infrastructure, FinTech, Pay with Wise, UKInteractive Brokers (IBKR), an automated global electronic broker has integrated Wise, to allow clients a simple and seamless experience when making deposits in their trading accounts.

Wise Platform allows banks and businesses to leverage its global payments infrastructure and makes investing easier than ever. It allows clients to save money on transfer fees when investing in their choice of 150 international markets worldwide through a quick and easy service.

Interactive Brokers offers clients from over 200 countries and territories the ability to trade stocks, options, futures, currencies, bonds, funds, and more on 150 global markets from a single unified platform.

With the new launch, clients of Interactive Brokers can now select ‘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.

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. Together, these features help reduce transfer fees and shorten the time clients need to move funds between their bank accounts and their trading accounts.

Steve Naudé, Head of Wise Platform, said, “Our 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. We look forward to continuing to work alongside IBKR to make global investing easier for clients all over the world.”

Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers added, “Interactive Brokers serves over two million self-directed investors and active traders in 200+ countries and territories. With the Wise integration, we can offer account funding in more local currencies, enabling greater participation in global markets, diversification of investments, and added protection against local economic uncertainty.”

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