Interactive Brokers LLC (NASDAQ:IBKR) has announced a new milestone growth, this time with the number of fee-generating trades hitting 3.7 million in February amid a surge in activity from people stuck at home during the coronavirus pandemic.
That is 175 percent higher than the number of daily average revenue trades, or DARTS, reported in the same month a year ago.
Additionally, the US-listed brokerage saw its DARTs increasing by 12 percent from the previous record set back in January 2021 at 3.29 million transactions.
Additionally, the discount brokerage has won more than 75,000 new accounts as volatile markets and renewed stay-at-home restrictions had amplified interest from retail investors. February’s active accounts increased to 1.26 million, or 6 percent higher from January and 76 percent above the previous year’s figure of 720,000 accounts.
Interactive Brokers Expands into Europe
Looking deeper into Interactive Brokers’ latest monthly report, the group’s client margin loans were around $42.1 billion in February 2021. This figure climbed 3 percent from January 2021 and was also higher by nearly 46 percent against the year prior.
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On average, in February 2021, Interactive Brokers charged clients commission fees of $2.30 per order. This figure includes exchange, clearing and regulatory fees, with the key products metrics coming out at $1.81 for stocks, $3.55 for equity options and $4.29 for futures orders.
Ranked as the largest US electronic broker, Interactive Brokers has been expanding its presence in Europe as it continues to grow its international business. The company expects to expand its staffing substantially in 2021 to accommodate its recently-established offices in Hungary and Ireland.
With the addition of its last branch, the Connecticut-based discount brokerage firm now has a physical presence in eleven entities globally.
While IBKR may be looking to grow its business outside of the US, the company has recently agreed to purchase a self-directed retail brokerage segment from the online custodian, Folio Investing in a push to expand its reach to Main Street investors.