Interactive Brokers Sees 22% YoY Increase in Client Accounts for November

Interactive Brokers announced its monthly brokerage performance metrics for November, which saw a significant increase in the number of client accounts. The metric was up 22% year-over-year(YoY) to 2.52 million, an increase of 2% from the previous month.

During the period, the global e-broker disclosed 1.898 million daily average revenue trades (DARTs). Despite a 3% decline in DARTs compared to last year, the firm saw positive growth in several key areas. Notably, client equity reached $404.3 billion, a significant 27% increase over last year and a significant 10% increase over the previous month.

The balance of customer margin loans increased by 8% compared to the same period last year, in line with last month's figures. In addition, ending client credit balances, including insured bank deposit sweeps, increased by 6% and 5% compared to the prior year and prior month, respectively.

Interactive Brokers' average commission per cleared commissionable order, including exchange, clearing, and regulatory fees, was $3.21. On average, The total cost of executing trades in U.S. Reg-NMS stock trades for IBKR PRO clients was $24,591.30 for the month of November.

Interactive Brokers delivered excellent results in the third quarter of 2023, with net revenues surging to $1.145 billion, an increase of 45% YoY and 14.5% quarter-over-quarter(QoQ). The adjusted figures closely matched this significant growth at $1.139 million.

The company's diluted earnings per share increased significantly, reporting $1.56, or $1.55 on an adjusted basis. This is a significant increase from last year's $0.97 and $1.08. The company’s reported pre-tax income of a staggering $840 million, with an adjusted figure of $834 million. This is a significant increase from $523 million and $580 million in the previous year.

(Source: Finance Magnates)