As people around the world hunker down in their homes to stop the spread of Covid-19, the pandemic has minted a generation of new retail investors eager for returns amid a global downturn. Hoping to assist these new traders on their bold investing journey is Interactive Brokers (IBKR).
In its quarterly results for 2QFY2021 ended June 2021, the brokerage noted higher commission revenue due to increased trading activity and a higher rate of customer accounts opened throughout 2020 and into 2021. For the quarter, the number of customer accounts increased 61% y-o-y and 7% q-o-q to 1.41 million.
Over the last 43 years, IBKR has grown to become a major securities firm with equity capital exceeding US$9 billion ($12.2 billion). Today, IBKR is among the largest electronic brokers, based on daily average revenue trades, which increased 32% y-o-y to 2.30 million in 2QFY2021.