Interactive Brokers has announced its performance metrics for August 2024, showcasing significant year-over-year growth across several key areas.
The brokerage reported a daily average of 2.712 million revenue trades (DARTs) for August, marking a 40% increase compared to the same month last year, though down 2% from July 2024.
The firm’s ending client equity reached $515.3 billion, a substantial 36% rise from August 2023 and a slight 1% increase from the previous month.
Client margin loan balances totaled $54.9 billion at the end of August, reflecting a 30% year-over-year increase but a 2% decline from July. Additionally, ending client credit balances stood at $112.1 billion, including $4.4 billion in insured bank deposit sweeps, which is 13% higher than the previous year and up 3% from the prior month.
Interactive Brokers also reported an increase in client accounts, reaching 3.06 million, up 29% from August 2023 and 2% from the previous month. The annualized average of cleared DARTs per client account was 198. The average commission per cleared commissionable order was $2.80.
For U.S. Reg-NMS stocks, the average trade value in August was $21,254. The total cost of executing and clearing U.S. Reg-NMS stocks for IBKR PRO clients was approximately 6.1 basis points of trade money, an increase from the 3.6 basis points average over the past twelve months.
The value of the GLOBAL, a currency diversification strategy adopted by Interactive Brokers, increased by 0.52% in August.
IBKR recently made Malaysian stocks listed on Bursa Malaysia available to its clients as part of its product offering. With this launch, IBKR clients can trade Malaysian Ringgit (MYR) denominated equities and ETFs alongside global stocks, options, futures, currencies, bonds, funds, and more from a single unified platform.
Interactive Brokers will also coordinate the necessary forex trade using an automatic FX conversion between the base currency selected in a client’s account and the Malaysian Ringgit, the brokerage firm announced.
Bursa Malaysia Securities Berhad, Malaysia’s sole stock exchange, is comprised of 970 listed companies across industries, including financial services, manufacturing, and oil and gas.
Interactive Brokers will facilitate trades with an automatic FX conversion between a client’s base currency and the Malaysian Ringgit using a conversion rate determined based on the prevailing foreign exchange market rates. This eliminates the need for pre-trade currency conversions and simplifies the trading experience for clients.
Interactive Brokers offers unparalleled global market access, advanced technology, and competitive pricing, empowering self-directed individual and institutional investors. Clients of Interactive Brokers can trade on 150 markets and fund and trade accounts in up to 27 currencies, including the Malaysian Ringgit. In addition to stocks on the Bursa Malaysia, clients can trade Crude Palm Oil Futures (FCPO) and FTSE Bursa Malaysia KLCI Futures (FKLI), giving them a wide range of investment opportunities.
IBKR adds Crude Palm Oil and FTSE Bursa Malaysia futures
It was earlier this month that Interactive Brokers opened access to listed derivatives on Bursa Malaysia, which has been actively promoting growth and participation from retail investors, especially the younger generation.
