Interactive Brokers (IBKR) reported a 27% year-over-year increase in daily average revenue trades (DARTs) in May 2024. The company’s ending client equity stood at $486.3 billion, marking a 41% rise from the previous year and a 6% increase from the prior month. Client margin loan balances reached $53.1 billion, showing a 33% year-over-year increase and a 5% month-over-month rise.
Client credit balances totaled $106.7 billion, which includes $4.0 billion in insured bank deposit sweeps, representing an 8% increase from the previous year and a 1% increase from April. The number of client accounts grew to 2.86 million, reflecting a 27% year-over-year increase and a 2% month-over-month rise. The annualized average cleared DARTs per client account was 186.
The average commission per cleared order was $3.01, including exchange, clearing, and regulatory fees. Specifically, the average commission per order for stocks was $2.12 for an average order size of 1,131 shares. For equity options, the average commission was $4.04 for 6.6 contracts per order, and for futures, it was $4.61 for 3.2 contracts per order, including options on futures.
Expansion into Cryptocurrency Trading
Interactive Brokers recently expanded its cryptocurrency services to British customers through its UK unit. Investors in the UK can now trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) alongside traditional investment products offered by IBKR.
This expansion follows the company’s partnership with OSL Digital Securities in November 2023, which launched crypto trading services for retail customers in Hong Kong. Interactive Brokers initially entered the crypto market in July 2021, focusing on retail investors before expanding to institutional customers in the United States. The recent move to include UK customers allows both retail and institutional investors to engage in the growing digital asset market.
Eligible UK customers of Interactive Brokers can manage traditional securities and digital assets accounts opened at Paxos Trust Company through a single, unified platform.
New Crypto Regulations in the UK
New regulations in the UK require firms promoting crypto products or services to include clear risk warnings and ensure that investors have the necessary knowledge and experience to invest in cryptocurrencies. Non-compliance with these regulations can result in penalties, including up to two years in prison.
The impact of these regulations is evident in the UK’s crypto market, with firms like Bybit and PayPal withdrawing certain services. Luno, another prominent crypto company, has restricted some clients from investing in cryptocurrencies on its platform.
For more details on Interactive Brokers’ performance and its expansion into cryptocurrency trading, visit [Interactive Brokers](https://www.interactivebrokers.com).
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