Interactive Brokers Client Base Jumps 19% in a Year to 2.29 Million

<p>Interactive
Brokers Group (NASDAQ: <a href="https://www.financemagnates.com/tag/interactive-brokers/" target="_blank" rel="follow">IBKR</a>), an automated global electronic broker, has
released its monthly performance metrics for June, reflecting robust growth in
its electronic brokerage segment. The report illustrates a surge of 24% in
ending client equity compared to the same period last year and an increase of 6%
over <a href="https://www.financemagnates.com/forex/interactive-broker-grows-darts-and-client-accounts-in-may/" target="_blank" rel="follow">the
previous month</a>.</p><p>Interactive Brokers
Reports Robust Financial Metrics in June</p><p>The metrics
in focus for June were daily average revenue trades (DARTs), ending client
margin loan balances, ending client credit balances, and the total number of
client accounts. Each of these indicators showed a promising trend, suggesting
strong client engagement and the financial health of the platform.</p><p>The Daily
Average Revenue Trades (DARTs) achieved a higher result of 5% on a monthly basis.
However, they fell 3% year-over-year (YoY). The ending client equity
indicator came in at $365 billion, which was higher monthly and annually.</p><p>Ending
client margin loan balances dropped 2% YoY to a level of $41.9 billion,
but they increased 5% on a monthly basis. At the same time, ending client
credit balances were 7% higher on an annual basis, reaching the level of $98.9
billion.</p><p>IBKR also
reported an increase in the number of customers for another month in a row. The
total number of accounts reached 2.29 million, increasing 19% YoY and 1%
month-over-month.</p><p>On the cost
front, executing and <a href="https://www.financemagnates.com/terms/c/clearing/">clearing</a> the US Regulation National Market System (NMS)
stocks through Interactive Brokers represented roughly 3.4 basis points of the
trade money. In the past year, an Interactive Brokers PRO client's average
all-in cost for the US Regional NMS stock trade stood at 2.2 basis points.</p><p>However,
not all figures in the report were positive. A mark-to-market adjustment on
Interactive Brokers' US government securities portfolio culminated in a loss of $1.6
million for the quarter that ended in June.</p><p>Interactive Brokers’
Expansion in Europe and Asia</p><p>The recent
efforts by Interactive Brokers underscore the company’s commitment to
broadening its services in Asia and Europe and have strengthened its global
market presence.</p><p>The American-based
electronic <a href="https://www.financemagnates.com/terms/t/trading-platform/">trading platform</a> has secured a significant position as the primary
international broker for Sinopac Securities, a prominent trading firm <a href="https://www.financemagnates.com/forex/interactive-brokers-first-to-offer-algo-trading-in-taiwan/" target="_blank" rel="follow">from
Taiwan</a>. Sinopac caters to both retail and institutional clients with a broad
range of trading options.</p><p>Simultaneously,
Interactive Brokers is extending its footprint in the digital asset space. The
firm has broadened its cryptocurrency offerings in Asia, specifically launching
these services <a href="https://www.financemagnates.com/forex/brokers/interactive-brokers-launches-crypto-trading-in-hong-kong/" target="_blank" rel="follow">in Hong Kong</a> in response to increasing client demand.</p><p>In the most
recent move to diversify its global offerings, Interactive Brokers has unveiled
plans to augment the number of markets it covers. The electronic broker intends
to offer clients the opportunity to trade shares on <a href="https://www.financemagnates.com/forex/interactive-brokers-expands-offering-with-new-markets-and-fractional-shares-in-europe/" target="_blank" rel="follow">two new European exchanges</a>
– Nasdaq Copenhagen (CPH) and the Prague Stock Exchange (PSE). This expansion extends
to fractional trading of eligible Nasdaq Copenhagen shares.</p>

This article was written by Damian Chmiel at www.financemagnates.com.