Interactive
Brokers, one of the largest electronic trading platforms in the world, published its metrics for July 2023 today
(Tuesday), reporting a 19% year-over-year (YoY) increase in its client accounts. The
accounts, which hit 2.33 million, however, only
expanded 2% month-over-month (MoM).
In July,
Interactive Broker reported a similar growth rate in its ending client equity,
or the amount of money clients had in their trading accounts at the end month.
The value climbed by 23% to $386.2 billion when compared to the same period
last year. However, compared to last month, the figure represents a modest 2%
growth.
Other
similar metrics also returned only slight growth rates: ending client margin loan balances, that is, the amount of money owed to the brokerage from leverage trades by clients, rose
2% year-over-year (YoY) and 3% MoM to $43.2 billion. Similarly, ending client credit balances,
or the amount of money clients left in their trading account after all trades
have been settled and all fees and charges deducted, came in at $98.8 billion.
The balances were nearly even with
the figure from the prior month but surged 5% higher compared to last year.
Furthermore,
Interactive Brokerage’s daily average revenue trades (DARTs) only grew by 2% MoM in July, reaching 1.991 million.
However, compared to the same month in 2022, the DARTs, which are the average trades per day that generated commissions or fees, increased
by 9%.
Previously, the total
number of accounts managed by the brokerage reached 2.29 million, with client equity worth
$365 billion at the end of June, Finance Magnates reported. Ending client margin
loan balances and ending client credit balances also came in at $41.9 billion
and $98.9 billion, respectively, in June.
New Offerings
Last month,
Interactive Brokers reported quarter-over-quarter
decreases in its net revenue, income before tax, profit margin and earnings
per share (EPS). The net
revenue and income before tax dived by 5% and 14% to $1 billion and $652 million,
respectively.
However,
the brokerage has continued to focus on the growth of its business. The firm on
Tuesday expanded its fractional
shares trading offering to Canada. The offering was recently introduced in Denmark for eligible shares listed on Nasdaq Copenhagen.
On top of these,
Interactive Broker in late July expanded its overnight
trading offering to include 10,000 stocks and exchange-traded funds (ETFs) listed in the
United States. It also recently integrated with
Darwinex, a
UK-based retail broker and asset manager.
Meta to launch ‘Personas’ AI bots; Conotoxia shows new feature; read today’s news nuggets.
Interactive
Brokers, one of the largest electronic trading platforms in the world, published its metrics for July 2023 today
(Tuesday), reporting a 19% year-over-year (YoY) increase in its client accounts. The
accounts, which hit 2.33 million, however, only
expanded 2% month-over-month (MoM).
In July,
Interactive Broker reported a similar growth rate in its ending client equity,
or the amount of money clients had in their trading accounts at the end month.
The value climbed by 23% to $386.2 billion when compared to the same period
last year. However, compared to last month, the figure represents a modest 2%
growth.
Other
similar metrics also returned only slight growth rates: ending client margin loan balances, that is, the amount of money owed to the brokerage from leverage trades by clients, rose
2% year-over-year (YoY) and 3% MoM to $43.2 billion. Similarly, ending client credit balances,
or the amount of money clients left in their trading account after all trades
have been settled and all fees and charges deducted, came in at $98.8 billion.
The balances were nearly even with
the figure from the prior month but surged 5% higher compared to last year.
Furthermore,
Interactive Brokerage’s daily average revenue trades (DARTs) only grew by 2% MoM in July, reaching 1.991 million.
However, compared to the same month in 2022, the DARTs, which are the average trades per day that generated commissions or fees, increased
by 9%.
Previously, the total
number of accounts managed by the brokerage reached 2.29 million, with client equity worth
$365 billion at the end of June, Finance Magnates reported. Ending client margin
loan balances and ending client credit balances also came in at $41.9 billion
and $98.9 billion, respectively, in June.
New Offerings
Last month,
Interactive Brokers reported quarter-over-quarter
decreases in its net revenue, income before tax, profit margin and earnings
per share (EPS). The net
revenue and income before tax dived by 5% and 14% to $1 billion and $652 million,
respectively.
However,
the brokerage has continued to focus on the growth of its business. The firm on
Tuesday expanded its fractional
shares trading offering to Canada. The offering was recently introduced in Denmark for eligible shares listed on Nasdaq Copenhagen.
On top of these,
Interactive Broker in late July expanded its overnight
trading offering to include 10,000 stocks and exchange-traded funds (ETFs) listed in the
United States. It also recently integrated with
Darwinex, a
UK-based retail broker and asset manager.
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- Source: https://www.financemagnates.com//forex/interactive-brokers-customer-accounts-jump-as-equity-reaches-386b-in-july/
