Interactive Brokers Group Metrics for February 2023; DARTs rise 7%
As per the brokerage highlights, February 2023 has shown a dip in its DARTs (Daily Average Revenue Trades), which have been noted at 2.121 million. The record shows an overall decrease in DARTs of 15% compared to February 2022, but the numbers also came with a positive side as they are 7% higher than the previous month.
On the other hand, Ending client equity has reached $331.6 billion, i.e., a fall of 5% compared to the previous year and 2% compared to the previous month. While looking at the Ending client margin loan, which is $39.1 billion, there is a drop-down of 21% from the prior year and 1% from the prior month.
Interactive Brokers made a turnaround in their Ending client credit balances of 97.9 billion dollars, scoring a 10% yearly hike along with $2.5 billion in insured bank deposit sweeps2, but a 2% decrease from the prior month, reaching $2.5 billion dollars.
Although the numbers show a little reduction in some sectors, Interactive Brokers is still lauded as the top online forex broker in Canada for being the best choice for institutional traders as well as professional traders. It stands true as it managed to plunge higher to score 2.16 million client accounts, which is 22% higher than the prior year and 2% higher than the prior month.
Also, the broker said that each account cleared an average of 222 DARTs per year, which led to an average commission per order of $3.12, plus exchange, clearing, and regulatory fees.