Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
The Charles Schwab Corporation (SCHW) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Charles Schwab Corporation (SCHW) - free report >>
Image: Shutterstock
Interactive Brokers Reports Y/Y Increase in August Client DARTs
Interactive Brokers Group, Inc. (IBKR - Free Report) has released the Electronic Brokerage segment’s performance metrics for August 2024. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs).
IBKR’s August Performance Breakdown
Total client DARTs for August were 2,712,000, which increased 40.4% from August 2023 and fell 1.6% from the last month.
On an annualized basis, the Cleared Average DARTs per customer account was 198 for August 2024. The metric increased 7.6% on a year-over-year basis and declined 3.9% from July 2024.
IBKR’s total customer accounts rose 29.3% year over year and 2.2% from the last month to 3.1 million. Net new accounts were 66,700, witnessing a surge of 58.4% from August 2023 but a decline of 6.6% sequentially.
Interactive Brokers’ total options contracts were 111.7 million in August 2024, up 22.6% year over year and down 5.8% sequentially. Future contracts rose 8.4% year over year and 5.4% from July to 20.1 million.
At the end of August 2024, client equity was $515.3 billion, which grew 36.5% year over year and 1.1% from the last month. IBKR recorded client credit balances of $112.1 billion, up 13.2% from August 2023 and 2.7% from the July 2024 level. The company's customer margin loan balance of $54.9 billion increased 30.4% from the year-ago month and fell 2.1% from the last month.
Zacks Rank & Price Performance
Year to date, shares of Interactive Brokers have surged 53.7%, outperforming the industry’s growth of 16.7%.
Image Source: Zacks Investment Research
Currently, IBKR sports a Zacks Rank #1 (Strong Buy).
Two other brokerage firms, The Charles Schwab Corporation (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will come out with their monthly performances in the coming days.
The Zacks Consensus Estimate for both SCHW and LPLA’s 2024 earnings per share has moved marginally downward in the past month.
At present, SCHW carries a Zacks Rank #4 (Sell), while LPLA has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.