Interactive Brokers Reports Over 1 Million Active Accounts

The Financial Commission / Media posts / Interactive Brokers Reports Over 1 Million Active Accounts

According to its latest press release with October 2020 metrics, US-based online brokerage Interactive Brokers (Nasdaq: IBKR) has surpassed 1 million active clients across its trading platforms. This is a new record for the 42-year-old company and highlights the success many online brokerages have had this year amid extreme market volatility and disruptions caused by the Covid-19 pandemic.

Among other things the broker reported a 10% drop in daily average revenue trades, or DARTS from 1.953 million in September to 1.762 million in October, signaling a slowdown in trader activity as we approach the US Election, which is taking place today. Nonetheless, the reported DARTS metrics are still 120% better than those achieved in October 2019, signaling the rise in popularity of equities trading in the United States and elsewhere.

Interestingly, the broker reported that it charged an average of $2.49 in commissions for trade orders, which includes exchange, clearing, and regulatory fees. This indicates that although “commission-free” trading is here to stay for major online equities shops in the United States, their revenue generation is still diverse among other product groups:


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