Interactive Brokers has reported impressive growth in key metrics for May 2024, underscoring its robust performance in the forex markets.
Interactive Brokers has reported impressive growth in key metrics for May 2024, underscoring its robust performance in the forex markets.
Interactive Brokers has reported impressive growth in key metrics for May 2024, underscoring its robust performance in the forex markets.
The firm announced a substantial year-over-year increase in Daily Average Revenue Trades (DARTs), which surged by 27% to reach 2.36 million. This growth marks a significant uptick compared to the same period last year, demonstrating heightened trading activity among its clientele.
Client equity also saw a notable rise, climbing to $486.3 billion. This figure represents a 41% increase from the comparable period in 2019 and a 6% uptick from the previous month, highlighting sustained momentum in client investment levels.
Moreover, client margin loan balances stood at $53.1 billion, marking a robust 33% increase year-over-year and a 5% increase month-on-month. This indicates continued confidence among clients in leveraging their investments within the market.
Interactive Brokers’ total credit balance with clients reached $106.7 billion, which includes $4.0 billion from insured bank deposit sweeps annually. This represents an 8% increase year-over-year and a 1% increase from the previous month, reflecting steady growth in client credit utilization.
The firm also reported a rise in client accounts, which now total 2.86 million—a 27% increase compared to the same period in 2019 and a 2% increase from January 2020. The average of cleared DARTs per client account annualized to 186.
In terms of commission fees, Interactive Brokers reported an average commission per all cleared orders of $3.01, covering exchanges, clearing, and regulatory fees. For stocks specifically, the average commission charged was $2.12 per trade.
For equity options, clients paid an average commission of $4.04 for 6.6 contracts per order, while futures transactions incurred an average commission of $4.61 for 3.2 contracts per order, including options on futures.
Earlier this year, in January, Interactive Brokers reported an 11% increase in DARTs, signaling continued financial strength and resilience in navigating market dynamics.
Overall, Interactive Brokers’ latest financial results underscore its strong growth trajectory, driven by increased trading activity, rising client equity, and expanding client base, positioning the firm favorably within the competitive brokerage industry.
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