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IBKR Mobile - Invest Worldwide

latest release: 8.83.1 ( 10th November 2021 ) last analysed  10th October 2021 Not a wallet 
2.9 ★★★★★
1249
12th August 2011

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The Analysis 

(Analysis from Android review)

App Description

IBKR or Interactive Brokers self-describes as follows:

The IBKR Mobile trading application from Interactive Brokers provides electronic access to stocks, options, futures, forex and futures options on multiple market destinations worldwide.

It has new features:

Now trade popular cryptocurriencies like BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin), and BCH (Bitcoin Cash) from your mobile device (via Paxos Trust)

The Site

More information about its cryptocurrency trading features can be found on this page.

Bitcoin Futures

The site references CME (Bitcoin Futures), CME (Ether Futures) and ICE (Bakkt Bitcoin Futures)

Instructions from the site are as follows:

Log into Account Management and sign up for Crypto on the trading permission page under Futures. If you already have futures trading permissions, you can immediately trade. If you don’t have future trading permissions you will need to wait for overnight approval.

The App

We downloaded the app, and tried to access the demo. In the demo, users are given some trial funds. However, the functionalities are highly limited. This app does not function as a bitcoin wallet.

Verdict

Trading Bitcoin Futures are only an added feature of the app. Its primary purpose is on trading and we could not find any option to deposit or withdraw bitcoins. This app does not have a bitcoin wallet.

(dg)

Verdict Explained

This appears to not be a product to receive and send money.

As part of our Methodology, we ask:

Is it a wallet? If not, we tag it No Wallet 

If it’s called “wallet” but is actually only a portfolio tracker, we don’t look any deeper, assuming it is not meant to control funds. What has no funds, can’t lose your coins. It might still leak your financial history!

If you can buy Bitcoins with this app but only into another wallet, it’s not a wallet itself.