Greenwich, Conn.-based Interactive Brokers announced today the launch of what it’s billing as the world’s largest no-transaction cost, no-load mutual fund marketplace.

Dubbed the Mutual Fund Marketplace, the new platform offers more than 25,000 mutual funds from more than 290 fund families worldwide, including 21,000 no-load and 8,300 no-transaction fee funds.

Steve Sanders, executive vice president of marketing and product development at Interactive Brokers, said that aside from covering the marketplace’s sheer size, the platform also offers mutual funds at very competitive costs. In addition, Interactive Brokers doesn't charge custody fees, and the platform only offers products from third-party companies.

“Instead of pushing proprietary funds like Fidelity, Vanguard, Schwab and others do, Interactive Brokers is product neutral,” Sanders said in released comments. “We have a fantastic variety of fund families available in our agnostic marketplace.”

The new marketplace will be available to investors in more than 200 countries and territories.

In the U.S., marketplace users will have access to more than 10,000 no-load and load-waived funds via the platform, and more than 4,300 no-transaction fee funds. Interactive Brokers also makes thousands of other funds available for $14.95 per trade.

Users can explore the marketplace using Interactive Brokers’ new Mutual Fund Search Tool, which allows clients and non-clients to search and sort products by fund type, fund family, country of residence and the commission charged.

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