Interactive Brokers trading volume fell slightly by 3% to 1.93 million DARTS in August, while new accounts surged to 2.36 million within the same month.
Given the stable market conditions after soaring volatility, Interactive Brokers LLC (NASDAQ: IBKR) revealed that trading volume in August 2023 experienced a slight decline of 3.02% to reach 1.93 million daily average revenue trades (DARTS), compared to the previous month, 1.99 million transactions.
Based on its financial report in August, the broker also found a decrease of approximately 2% in customer account equity balances, $377 billion. However, this figure is still an increase of 22% when measured by customer equity balances a year ago.
Furthermore, another decrease occurred in the average commission charge to clients, amounting to $3.01 per order, down 2.6% from July. This figure includes exchange, clearing, and regulatory fees, with product metrics of $1.94 for stocks, $4.94 for equity options, and $4.04 for futures orders. A decrease in this figure is quite common due to weakening volatility following low market movements.
Despite declining overall trading volume, the company attracted more than 42,000 new accounts. Active accounts increased to 2.36 million in August, up 2% from July and 19% from a year ago.
Additionally, Interactive Brokers' second-quarter revenue grew 52%, reaching $1 billion, from a year earlier. Its revenue fell slightly by 2% every quarter. Meanwhile, this figure is relatively lower than the first quarter, $1.04 billion. The year-over-year increase in earnings was due to a doubling of net interest income, reaching $694 million.
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