Interactive Brokers Group, Inc. (NASDAQ:IBKR) today announces the launch of the Interactive Brokers Canada (IB Canada) Prepaid Mastercard. The Mastercard expands the cash management benefits available to IB Canada clients, adding the ability to offset transactions against their IB account balances.
Currently, IB Canada clients can trade securities in over 135 global markets via trading software at some of the lowest costs in the industry via Interactive Brokers’ Integrated Investment Account. IB Canada’s Prepaid Mastercard adds cash management benefits such as purchasing power and cash withdrawal to the full suite of benefits currently available to IB Canada clients.
“Interactive Brokers’ advantage has always been our low cost, advanced trading tools, and breadth of product worldwide for sophisticated individual traders and DIY investors,” said Jean-François Bernier, Managing Director at Interactive Brokers Canada. “The IB Canada Prepaid Mastercard gives our Canadian clients a simple and flexible option for managing their finances.”
Along with the Prepaid Mastercard, major benefits of the IB Canada integrated financial management account include:
- Cover card transactions with funds from your brokerage account at ultra-low rates – currently CAD 1.63% or less
- Receive market interest rates on idle account balances and earn extra income by lending fully paid shares
- Spend and borrow directly against your IBKR brokerage account, avoiding late fees or foreign transaction charges
- Invest in stocks, options, futures, bonds, funds and forex on over 135 markets at low costs
- Take advantages of any of these benefits from a single account, eliminating the inconvenience of transferring funds between accounts and avoiding late fees
The card program is administered by Interactive Brokers Canada Inc., the Program Manager of the Interactive Brokers Prepaid Mastercard. Interactive Brokers Prepaid Mastercard card is issued by Peoples Trust Company under license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
The Interactive Brokers Prepaid Mastercard is currently available to Canadian residents and is subject to terms and conditions and an application review.