Interactive Brokers, one of the biggest US Forex brokers, has just reported its financial metrics for the first quarter of 2014, with the shareholders in the group having a reason to rejoice as net profits grew steeply and a generous dividend was declared.
In the three months to the end of March 2014, the net profits at Interactive Brokers amounted to $201.2 million, up by massive 167.2% against the $75.3 million recorded in the same period in 2013. Pre-tax profits were also solid, reaching $218 million and marking a growth of 165% against the corresponding period in 2013. Net revenues surged 64% year-on-year to $354.9 million. The robust set of metrics was a particularly good piece of news for the broker, which saw a raft of dismal results for 2013, due to one-off events. If the broker continues with this solid performance, the annual results for 2014 will definitely be ahead of those for 2013.
But you must be getting curious about the fortunes of various segments under Interactive Brokers' helm. Well, the first quarter saw the market making business of the group show solid results too, while the strong performance of the electronic brokerage segment continued. You may recall that despite the subdued performance of Interactive Brokers in 2013, the electronic brokerage held up well. And this trend kept developing in the first three months of 2014. The Electronic Brokerage segment saw pre-tax income rise by 21% year-on-year, to $134 million in the first quarter of this year.
The electronic brokerage business posted some remarkable operating metrics too, with total daily average revenue trades (DARTs) growing by 25% on the year to 582,000. The number of client accounts increased by 16% to 252,000 from the year-ago quarter, while customer equity jumped 38% to massive $49 billion.
Meanwhile, the broker continues to beef up its offering: it has just launched a Volatility lab and has secured direct access to IEX, the electronic trading venue, to its customers. The TWS multi-asset trading platform undergoes frequent updates, amid the latest ones we can see easier account management. And, while we are discussing this topic, you must recall that early in March Interactive Brokers announced partnership with MultiCharts to provide the exquisite charting capabilities of the platform on TWS. As usual, plenty of efforts are at the basis of solid metrics – and that's fair.
You can read the full press release here.
Interactive Brokers Group, Inc., together with its subsidiaries, is an automated global electronic broker that specializes in catering to financial professionals by offering state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and sophisticated risk management tools at exceptionally low costs. The brokerage trading platform utilizes the same innovative technology as the Company's market making business, which executes and processes trades in securities, futures and foreign exchange instruments on more than 100 electronic exchanges and trading venues around the world. As a market maker, we provide liquidity at these marketplaces and, as a broker, we provide professional traders and investors with electronic access to stocks, options, futures, forex, bonds and mutual funds from a single IB Universal AccountSM.
| Broker | Country | Regulation | Platform | Min Deposit | Review |
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Cyprus, UK, Mauritius | CySec, FCA, FSC | MT4, MT5, Web | $10 | Review Website |
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Cyprus, SVG | CySEC | MT5, Web, cTrader |
$100 | Review Website |
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Australia, Cyprus | ASIC, CySEC | MT4, MT5, IRESSTrader |
$100 | Review Website |
|
Cyprus, Australia | CySec, ASIC | MT4, MT5 | $5 | Review Website |
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UK, Australia, South Africa | FCA, ASIC, FSCA | MT4, Trading Station, NinjaTrader |
$50 | Review Website |
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UK, Cyprus, UAE, South Africa | FCA, CySEC, DFSA, FSB | MT4, MT5, FxPro Markets, cTrader |
$100 | Review Website |
|
Cyprus | CySEC | MT4, MT5, Web | $1 | Review Website |
|
Belize | IFSC | MT4, MT5 | $100 | Review Website |
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Cyprus, UK, South Africa, UAE | CySec, FCA, FSCA, DFSA | MT4, MT5, Web | $5 | Review Website |
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Cyprus, UK | CySEC, FCA | MT4, MT5 | $1 | Review Website |
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UK | FCA | MT5 | $5 | Review Website |
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UK | FCA | MT4, Web, MT4 for Mac |
$100 | Review Website |
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Australia, UK | ASIC, FCA | MT4, MT5, cTrader |
$200 | Review Website |
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UK, Cyprus, Dubai | FCA, CySEC, DFSA | MT4, MT5, Web, PrimeTrader |
$100 | Review Website |
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