Online broker firm Interactive Brokers announced higher earnings in January 2020 compared to December 2019. This feat set a two-year record for its Daily Average Revenue Trades.
January 2020 DARTs saw a 32 percent rise at 1,019,000 as the highest figure since February 2018 with 771,000. The firm also saw a 20 percent increase in a yearly comparison with their 851,000-figure made in 2019.
The firm only went up one percent for equity balance in customer’s accounts in January 2020, totaling $176 billion. In December, earnings came in at $174.1 billion.
Evidently, this figure also increased year-on-year, which came in 27 percent higher compared to $139.2 billion in January 2019.
Client margin loan balances had the only decrease this month, down 12 percent from $31.0 billion earned in December 2019. However, this figure was still higher by 15 percent against $23.8 million made in January 2019.
Interactive Brokers also announced a total of 704,600 active customer accounts, up by 2 percent month-on-month and 16 percent year-on-year. December saw 689,000 accounts while January 2019 saw 606,800.
New accounts added 73 percent compared month-on-month and 71 percent at 14,700.
Interactive Brokers closed weak in December 2019, including the lowest DART figures since August 2018. When compared month-on-month, the broker saw a six percent decrease from 822,000 in November.
The same figure dropped 16 percent relative to 953,000 reported during the same month in 2018.
Despite the loss, the firm still saw climbing revenue growth. The broker saw higher earnings quarter-over-quarter for three months through September 2019.
Equity balance went up by four percent on a monthly basis but soared by 36 percent relative to 2018.
Customer account numbers inched up one percent month-on-month at 690,000. This figure went up 15 percent in comparison to December of the previous year.
During December, the agency charged commission fees of $3.79 per order, including exchange, clearing, and regulatory fees.
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