On a yearly basis, Interactive Broker's DART figure is worse, falling by 20 percent to 2.2 million. However, not all the figures are alarming.
A platform for advanced and professional traders, Interactive Brokers, finds it challenging to pump up its monthly volume. The broker has offered some trading attractions, such as commission-free trading and fractional shares, but they don't immediately attract customers.
The DART number for April 2021 was down 14 percent to 1.77 million transactions from 2.05 million transactions a month before. On a yearly basis, Interactive Broker's DART figure is worse, falling by 20 percent to 2.2 million.
However, not all of the figures in the monthly report of Interactive Brokers are disappointing. The equity balance in customers' accounts during April 2023 is up to 5 percent yearly. The figure totaled $342 billion. April's active accounts increased to 2.22 million, which is 1 percent higher than in March. The figure total is 28,700 new accounts.
The commission fee average is $3.18 per order, including exchange, clearing, and regulatory fees. Interactive Brokers charge differently between products. It is $2.03 for stocks, $4.65 for equity options, and $4.25 for futures orders. The report is a bit worrying for growth in the second quarter. The first quarter of 2023 is still solid because of increasing account numbers.
The Greenwich, Connecticut-based company said the profit is still large thanks to a favorable interest rate environment and an increasing user base. It seems that the broker should have more struggle to fix the volume in the next three months. Despite headwinds from a push to no-fee trading, Interactive Brokers' commission revenue increased 2 percent from the year-ago quarter to $357 million.
Last year, Interactive Brokers launched IBKR GlobalTrader, a simple application to trade stock worldwide for its clients. It could be evidence that Interactive Broker continues to attract customers with trading features that make trading easier.