Interactive Brokers’ fee-generating trades near 2 million mark

abdelaziz Fathi

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.96 million daily average revenue trades, or DARTS, in June 2023 compared to 1.86 million transactions in the prior month. The figure is 5 percent higher on a monthly basis, but dropped by more than three percent from a year earlier.

In terms of equity balance in customers’ accounts during June 2023, the figure totaled $365 billion, higher by 24 percent on a yearly basis. Interactive Brokers also managed to beat its May equivalent, having notched a six percent increase relative to $345 billion the prior month.

Elsewhere, the discount brokerage has won more than 32,500 new accounts. June’s active accounts increased to 2.29 million, or 1 percent higher than in May and 19 percent above the previous year’s figure of 1.92 million ‎accounts.

The Greenwich, Connecticut-based company also revealed that on average it charged clients commission fees of $3.08 per order compared to $3.08 in May. This figure includes exchange, clearing and regulatory fees, with the key product metrics coming out at $1.91 for stocks, $4.43 for equity options and $4.38 for futures orders.

Interactive Brokers made headlines recently following the launch of low-fee cryptocurrency trading for professional investors in Hong Kong, making it the latest by the discount broker to expand the reach of its digital asset offering.

The discount broker has also won regulatory approval from the Financial Conduct Authority (FCA), allowing it to continue serving UK-based customers.

Only 42 cryptocurrency-related companies are currently registered with Britain’s financial regulator. However, there are dozens of other crypto firms registered under the Temporary Registration Regime list. Interactive Brokers and crypto native platform, Bitstamp, which were listed on the FCA’s temporary crypto-asset business register, have become the first companies to be registered with the FCA in approximately six months.

Interactive Brokers also made headlines in June after it expanded its fractional trading feature for European stocks and ETFs, four years after its initial launch for US securities back in 2019.

Traders using Interactive Brokers can now trade shares on the Nasdaq Copenhagen (CPH) and the Prague Stock Exchange (PSE). Moreover, Interactive Brokers also introduced the fractional trading option for eligible shares on the Nasdaq Copenhagen, providing clients with increased access to international markets and more diverse trading opportunities.

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