Interactive Brokers Group, Inc. IBKR has released the Electronic Brokerage segment’s performance metrics for October 2024. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs).

IBKR’s October Performance Breakdown

Total client DARTs in October were 2,823,000, which increased 46% from October 2023 and 7.2% from the last month.

On an annualized basis, the cleared Average DARTs per customer account was 200 for October 2024. The metric increased 13.6% on a year-over-year basis and 5.3% from September 2024.

IBKR’s total customer accounts rose 28.6% year over year and 2.2% from the last month to 3.19 million. Net new accounts were 65,000, witnessing an increase of 34.9% year over year and 11.7% sequentially.

Interactive Brokers’ total options contracts were 122.1 million in October, up 31.6% year over year and 22.1% sequentially. Future contracts declined 10.8% year over year to 18.3 million. Nonetheless, the metric increased 7.1% from September 2024. 

At the end of October, client equity was $540 billion, which grew 47.1% year over year. However, the metric declined marginally from the last month. IBKR recorded client credit balances of $117.6 billion, up 21.6% from October 2023 and nearly 1% from the September 2024 level. The company's customer margin loan balance of $58.9 billion increased 39.9% from the year-ago month and 5.6% from the last month.

IBKR’s Zacks Rank & Price Performance

In the past six months, shares of Interactive Brokers have gained 26.2% compared with the industry’s 12.3% growth.

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Currently, IBKR has a Zacks Rank #3 (Hold). 

Two other brokerage firms, The Charles Schwab Corporation SCHW and LPL Financial Holdings Inc. LPLA, will come out with their monthly performances in the coming days.

The Zacks Consensus Estimate for SCHW’s 2024 earnings per share has remained unchanged over the past seven days, while the metric has moved 1.3% upward for LPLA in the same period.
 
At present, SCHW & LPLA carry a Zacks Rank of 3 each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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