Interactive Brokers’ client trades surge by third in April 2024

abdelaziz Fathi

Interactive Brokers LLC (NASDAQ: IBKR) recorded 2.339 million daily average revenue trades (DARTs) in April 2024, which is 33% higher than the previous year, yet there was a 3% decrease compared to March.

In terms of equity balance in customers’ accounts during April, the figure stood at $457.8 billion, up 34% from last year, but was also down 2% from the previous month. Ending client margin loan balances climbed to $50.7 billion, marking a 28% rise from last year but decreasing slightly by 1% from March.

Interactive Brokers’ client credit balances, including $4.0 billion in insured bank deposit sweeps, totaled $105.8 billion, up 7% from last year and 1% from March.

The number of client accounts continued to grow, reaching 2.81 million, up 26% from the previous year and a 2% increase from March. The annualized average cleared DARTs per client account stood at 188.

The Greenwich, Connecticut-based company also revealed that on average it charged clients commission fees of $3.00, including exchange, clearing, and regulatory fees. Specifically, the average commission for stock orders was $1.90 for 964 shares, $4.14 for equity options involving 6.5 contracts, and $4.37 for futures orders consisting of 3.1 contracts.

The company also noted a slight decline in the value of the GLOBAL, reported in U.S. dollars, which decreased by 0.33% in April.

Interactive Brokers derives nearly 70% of its net revenue from the U.S. market, with the remaining 30% coming from international operations. The company has seen a robust increase in its financials, with net income available for common stockholders rising from $148 million in Q1 2023 to $175 million in 2024. This growth was supported by increases in both interest and non-interest income, indicating a diversified revenue stream.

Despite the strong financial performance, the discount broker reported a $104 million decrease in earnings due to its currency diversification strategy, which was affected by a 0.73% depreciation in the U.S. dollar value against its GLOBAL basket.

Interactive Brokers made headlines in late 2023 when it obtained a license to engage in virtual asset trading for retail clients. This development is also part of a larger wave of regulatory approvals in the region, with Hashkey historically being the first crypto exchange in Hong Kong to be licensed for retail crypto asset offerings back in August.

Read this next

Crypto Insider

Octa’s insights: the approval of spot Ethereum ETFs is not going as planned.

The approval of spot Bitcoin exchange-traded funds (ETF) by the U.S. Securities and Exchange Commission (SEC) in January 2024 triggered a substantial rise in the bitcoin price. Also, interest in the proposed spot Ethereum ETF has increased

Industry News

Bursa Malaysia introduces Trading Reminders

The Trading Reminder flag aims to alert investors to exercise caution when encountering a stock displaying persistent unusual price and/or volume movements after the listed company’s UMA response.

Industry News

21 Republican representatives want to “End the Fed”

“Americans are suffering under crippling inflation, and the Federal Reserve is to blame.”

Retail FX

Scope Markets launches unleveraged trading

“Whilst our traditional contract for difference (CFD) products continue to prove incredibly popular, the Invest account is unleveraged and only allows ‘long’ positions to be taken, a combination that significantly reduces the risk of capital losses.”


Unlocking Profit Potential: Earn Returns with DecodeEX Experience Bonus!

DecodeEX, the innovative brokerage subsidiary of Decode Global, announced its experience bonus campaign, offering every user the opportunity to maximize their strategic trading potential with up to $10,000 in experience bonus. 

Market News

Pretiorates’ Thoughts 28 – Precious metals and base metals out of control

Ten days ago we mentioned in Pretiorates’ Thoughts 26: Chapter 2 should start with Precious Metals.

Retail FX

Webull launches discount brokerage in Malaysia

“Making investing more inclusive and accessible to all, Webull Malaysia brings best-in-class tools and information to empower investors of all levels with knowledge and skills to help them make better investment decisions and achieve their investment goals.”

Digital Assets

Hidden Road adds OKX’s Nitro Spreads into prime brokerage

“Hidden Road continually seeks to increase market access and capital efficiency through expanded prime brokerage offerings. Integrating OKX’s Nitro Spreads product builds upon this philosophy by extending our counterparties’ ability to execute risk-managed arbitrage strategies.”


Dev Release 31: BlockDAG’s SHA-3 Upgrades Propel Crypto Mining Innovation as Miner Sales Approach 5800 Units

Learn about BlockDAG’s 31st Development Release, which includes advanced SHA-3 updates and a significant increase in miner sales, driving advancements.