Interactive Brokers Group Inc. said on Monday it would allow clients in Latin America to deposit funds using SafetyPay, a unit of Paysafe Group Plc.
The new funding option enables eligible users to transfer money directly from personal bank accounts in local currencies, the brokerage said. Once deposited, clients can trade stocks, options, futures, currencies, bonds and funds across more than 170 markets globally through the Interactive Brokers platform.
The service targets individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers operating in the region. Milan Galik, chief executive officer of Interactive Brokers, said funding an account should be straightforward, and that SafetyPay provides a simple way for Latin American clients to access IBKR’s global markets.
Interactive Brokers, based in Greenwich, Connecticut, is a member of the S&P 500 and trades under the ticker IBKR on the NASDAQ.
