Interactive Brokers Group, Inc. (IBKR): Business Model Canvas [Jan-2025 Mise à jour]

Interactive Brokers Group, Inc. (IBKR) est une force révolutionnaire dans le paysage de la négociation financière, offrant un mélange inégalé de technologie de pointe, d'accès au marché mondial et de solutions commerciales remarquablement à faible coût. En tirant parti des plates-formes propriétaires sophistiquées et d'un modèle commercial innovant, IBKR a transformé la façon dont les commerçants professionnels, les investisseurs de détail et les clients institutionnels naviguent sur des marchés financiers complexes, offrant une expérience commerciale transparente, efficace et technologiquement avancée qui remet en question les paradigmes de courtage traditionnels.

Interactive Brokers Group, Inc. (IBKR) - Modèle commercial: partenariats clés

Fournisseurs de technologie pour les plateformes de trading avancées

Les courtiers interactifs collaborent avec des partenaires technologiques clés pour maintenir son infrastructure commerciale sophistiquée:

Partenaire technologique	Focus de collaboration spécifique	Année établie
Microsoft Azure	Services d'infrastructure cloud	2019
Réseaux palo alto	Solutions de cybersécurité	2017
Services Web Amazon	Prise en charge du cloud computing	2016

Bourses mondiales et marchés financiers

Les courtiers interactifs maintiennent une connectivité directe avec plusieurs échanges globaux:

• NASDAQ (États-Unis)
• NYSE (États-Unis)
• Bourse de Londres
• Bourse de Tokyo
• Bourse de Hong Kong
• Bourse de Francfort

Fournisseurs de liquidité et fabricants de marché

Les partenariats clés de liquidité du marché comprennent:

Fournisseur de liquidité	Volume de trading (2023)	Type de relation
Titres de la citadelle	462 milliards de dollars par jour	Fabricant de marchés primaire
Virtu financier	387 milliards de dollars par jour	Marchand secondaire

Compliance réglementaire et cabinets de conseil juridique

Les partenariats de conformité comprennent:

• Deloitte & Touche LLP (conseil réglementaire)
• PricewaterhouseCoopers (Conformité Advisory)
• KPMG (services de gestion des risques)

Fournisseurs de services de cloud computing et de cybersécurité

Partenariats d'infrastructure technologique critique:

Fournisseur	Type de service	Valeur du contrat annuel
Services Web Amazon	Infrastructure cloud	24,3 millions de dollars
Microsoft Azure	Services cloud	18,7 millions de dollars
Réseaux palo alto	Cybersécurité	12,5 millions de dollars

Interactive Brokers Group, Inc. (IBKR) - Modèle d'entreprise: Activités clés

Développement de la plate-forme de trading électronique

Les courtiers interactifs ont investi 159,1 millions de dollars dans les frais de technologie et de développement en 2022. La plateforme Trader Workstation (TWS) prend en charge les échanges sur 135 marchés dans 33 pays.

Métriques de la plate-forme	2022 données
Investissement technologique	159,1 millions de dollars
Marchés pris en charge	135
Les pays couverts	33

Aggrégation et analyse des données du marché

IBKR traite en moyenne 2,2 millions de transactions quotidiennes avec des données de marché en temps réel dans plusieurs classes d'actifs.

• Couverture des données du marché des actions: 90+ échanges mondiaux
• Données du marché des options: 16 échanges d'options
• Données du marché à terme: 24 échanges à terme mondiaux

Gestion des risques et surveillance de la conformité

Métriques de gestion des risques	2022 chiffres
Personnel de conformité réglementaire	350+ professionnels
Investissement technologique de conformité	45,3 millions de dollars
Systèmes de surveillance des risques	Évaluation des risques algorithmiques en temps réel

Assistance client et maintenance des infrastructures commerciales

IBKR maintient le support client mondial 24/7 dans plusieurs langues avec plus de 1 600 personnes de soutien.

• Langues de support: 16 langues
• Centres de soutien mondial: 7 emplacements
• Temps de réponse moyen: moins de 30 secondes

Optimisation du système de trading algorithmique et automatisé

Les courtiers interactifs exploitent des systèmes de négociation algorithmiques avancés qui traitent plus de 2,1 billions de dollars en volume de trading mensuel.

Métriques de trading algorithmique	2022 Performance
Volume de trading mensuel	2,1 billions de dollars
Stratégies de trading algorithmique	Plus de 50 stratégies automatisées
Latence du système	Exécution de moins de millisecondes

Interactive Brokers Group, Inc. (IBKR) - Modèle commercial: Ressources clés

Technologie commerciale propriétaire avancée

Les courtiers interactifs exploitent une infrastructure technologique sophistiquée avec les spécifications suivantes:

Métrique technologique	Données quantitatives
Vitesse d'exécution de la plate-forme de négociation	0,001 seconde latence moyenne
Volume de trading quotidien traité	2,4 millions de métiers par jour
Time de disponibilité du système	Fiabilité de 99,9%

Infrastructure d'accès au marché mondial étendu

Les courtiers interactifs maintiennent une connectivité complète du marché mondial:

• Accès direct au marché à 135 marchés mondiaux
• Capacités de négociation dans 33 pays
• Connectivité à plus de 100 échanges électroniques dans le monde

Technologies hautement qualifiées et équipes d'ingénierie financière

Métrique de la main-d'œuvre	Données quantitatives
Total des employés	2 400 à partir de 2023
Personnel technologique	1 100 professionnels de la technologie
Expertise technique moyenne des employés	12,5 ans d'expérience dans l'industrie

Systèmes robustes de cybersécurité et de protection des données

Investissement en cybersécurité: 47,3 millions de dollars alloués à l'infrastructure de sécurité numérique en 2023

• Protocoles de chiffrement multicouches
• Systèmes de surveillance des menaces en temps réel
• Mécanismes d'authentification biométriques avancés

Bases de données complètes du marché financier

Caractéristique de la base de données	Spécification quantitative
Couverture des données du marché historique	Plus de 25 ans de dossiers financiers historiques
Sources de données en temps réel	Plus de 200 fournisseurs de données financières mondiales
Traitement quotidien des données du marché	3,5 Petaoctets d'informations financières

Interactive Brokers Group, Inc. (IBKR) - Modèle d'entreprise: propositions de valeur

Commissions de négociation à faible coût dans plusieurs classes d'actifs

Interactive Brokers offre des taux de commission de négociation compétitifs:

Classe d'actifs	Taux de commission typique
Actions	0,0035 $ par action, minimum 0,35 $
Options	0,65 $ par contrat
Avenir	0,85 $ par contrat
Forex	2 $ par million USD échangé

Technologie avancée avec des outils de trading sophistiqués

Les caractéristiques technologiques clés comprennent:

• Plateforme Trader Workstation (TWS)
• Analytique interactive
• Données de marché en temps réel
• Outils de cartographie avancés

Accès au marché mondial pour les investisseurs de vente au détail et institutionnels

Détails de la couverture du marché:

Catégorie de marché	Nombre de marchés
Marchés boursiers	135+ échanges mondiaux
Marchés dérivés	23 échanges à terme
Marchés obligataires	50+ marchés d'obligations

Prix ​​transparents et structure de frais minimaux

Répartition des frais:

• Aucun frais de maintenance du compte
• Aucun frais d'inactivité
• Taux de marge aussi bas que 1,41% (au Q4 2023)

Exécution à grande vitesse et plateformes de trading sophistiquées

Métriques de performance:

Métrique d'exécution	Performance
Vitesse d'exécution du commerce moyen	0,01 seconde
Efficacité de routage des commandes	Taux de remplissage de 99,7%

Interactive Brokers Group, Inc. (IBKR) - Modèle d'entreprise: relations avec les clients

Plates-formes numériques en libre-service

Interactive Brokers fournit une plate-forme numérique complète avec 1,9 million de comptes clients au quatrième trimestre 2023. La plate-forme prend en charge les échanges sur 135 marchés dans 33 pays ayant un accès en temps réel.

Fonctionnalité de plate-forme	Métrique
Comptes clients totaux	1,900,000
Couverture du marché mondial	135 marchés
Pays soutenus	33

Systèmes de support client automatisé

Les courtiers interactifs utilisent des technologies de support automatisées avancées avec un temps de réponse de moins de 30 secondes pour les demandes numériques.

• Support de chat automatisé 24/7
• Système de résolution de billets alimentée par l'IA
• Infrastructure de support multilingue

Ressources éducatives en ligne étendues

La société propose plus de 500 webinaires éducatifs par an avec plus de 250 000 participants inscrits.

Ressource éducative	Volume annuel
Webinaires	500+
Participants enregistrés	250,000

Gestion des comptes personnalisés pour les clients institutionnels

Les courtiers interactifs gèrent 324 milliards de dollars d'actifs des clients pour les investisseurs institutionnels au quatrième trimestre 2023.

• Gestionnaires de relations dédiées
• Solutions de trading personnalisées
• Outils de gestion des risques avancés

Forums commerciaux axés sur la communauté et partage des connaissances

Les courtiers interactifs maintiennent des plateformes communautaires en ligne avec 75 000 participants mensuels actifs.

Métrique communautaire	Volume
Participants actifs mensuels	75,000
Forums de discussion	12

Interactive Brokers Group, Inc. (IBKR) - Modèle d'entreprise: canaux

Plateforme de trading basée sur le Web

Interactive Brokers propose une plateforme de trading Web complète avec les spécifications suivantes:

Fonctionnalité de plate-forme	Spécification
Nom de la plate-forme	Webtrader
Marchés pris en charge	Plus de 100 marchés mondiaux
Classes d'actifs	Actions, options, contrats à terme, forex, obligations, ETF
Volume de trading quotidien (2023)	2,4 millions de métiers par jour

Applications de trading mobile

Interactive Brokers fournit des capacités de trading mobile sur plusieurs plates-formes:

• Application mobile iOS
• Application mobile Android
• Interfaces compatibles avec tablette
• Accès aux données du marché en temps réel

Logiciel de trading de bureau

Caractéristiques du poste de travail de Trader Propriétaire (TWS):

Attribut logiciel	Détails
Compatibilité de la plate-forme	Windows, macOS, Linux
Utilisateurs actifs (2023)	1,7 million d'utilisateurs enregistrés
Cartographie avancée	Plus de 200 indicateurs techniques

Intégration de l'API pour les commerçants algorithmiques

Les courtiers interactifs prennent en charge plusieurs interfaces de programmation:

• API Java
• API Python
• API .NET
• API REST

Accès direct au marché via des interfaces électroniques

Spécifications de connectivité directe:

Type d'accès	Couverture
Échanges mondiaux connectés	135+ échanges dans le monde
Routage d'accès au marché direct	Vitesses d'exécution de moins de millisecondes
Protocoles de trading électronique	Fix, Nasdaq Itch, OPRA

Interactive Brokers Group, Inc. (IBKR) - Modèle d'entreprise: segments de clientèle

Commerçants et investisseurs professionnels

Les courtiers interactifs servent des commerçants professionnels avec des caractéristiques spécifiques:

• Taille moyenne du compte: 255 000 $
• Comptes de trader professionnel total: 152 000 au quatrième trimestre 2023
• Volume de trading annuel pour segment professionnel: 2,1 billions USD

Métrique du segment	Valeur
Métiers quotidiens moyens	385,000
Utilisation des marges	68%
Diversification des actifs	4.3 Différentes classes d'actifs par compte

Investisseurs de détail

Les courtiers interactifs ciblent les investisseurs de détail avec des fonctionnalités compétitives:

• Comptes totaux des investisseurs de détail: 1,7 million en 2023
• Solde d'ouverture du compte minimum: 0 $
• Taille du compte moyen des investisseurs de détail: 45 000 $

Investisseurs institutionnels et hedge funds

Détails du segment institutionnel:

• Total des actifs des clients institutionnels: 324 milliards de dollars
• Nombre de clients institutionnels: 1 850
• Taille moyenne du compte institutionnel: 175 millions de dollars

Métriques du segment institutionnel	Valeur
Pourcentage de trading algorithmique	62%
Métiers mensuels moyens	245,000

Sociétés de négociation à haute fréquence

Caractéristiques du segment de trading à haute fréquence:

• Total des clients de négociation à haute fréquence: 287
• Volume de trading quotidien moyen: 1,2 million de transactions
• Pourcentage de trading électronique: 94%

Les commerçants internationaux à la recherche d'un accès mondial sur le marché

Statistiques du segment mondial d'accès au marché:

• Comptes de trader international total: 385 000
• Nombre de marchés pris en charge: 150
• Taux de croissance des comptes de trader international: 22% en 2023

Métriques du segment international	Valeur
Pays soutenus	220
Paires de devises étrangères	100+

Interactive Brokers Group, Inc. (IBKR) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

En 2023, les courtiers interactifs ont déclaré des frais de technologie et de communication de 351,4 millions de dollars. La société maintient une plate-forme de trading mondiale sophistiquée sur plusieurs classes d'actifs et marchés.

Catégorie de coûts technologiques	Dépenses annuelles ($)
Infrastructure informatique	172,6 millions
Systèmes de réseau et de communication	89,3 millions
Investissements en cybersécurité	45,2 millions
Services de cloud computing	44,3 millions

Frais de conformité réglementaire

Les courtiers interactifs ont alloué environ 87,5 millions de dollars pour la conformité réglementaire et les frais juridiques en 2023.

• Coûts de dépôt réglementaire: 22,3 millions de dollars
• Systèmes technologiques de conformité: 35,6 millions de dollars
• Services de conseil juridique: 29,6 millions de dollars

Compensation des employés

Les dépenses totales de rémunération pour 2023 étaient de 597,8 millions de dollars, couvrant des experts techniques et financiers dans les opérations mondiales.

Catégorie des employés	Compensation annuelle moyenne ($)
Professionnels de la technologie	185,000
Analystes financiers	210,000
Officiers de conformité	165,000
Direction	475,000

Coûts de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 ont totalisé 64,2 millions de dollars, en se concentrant sur les stratégies d'acquisition numérique et ciblée des clients.

• Publicité numérique: 27,6 millions de dollars
• Marketing de contenu: 12,4 millions de dollars
• Programmes de référence: 8,9 millions de dollars
• Sormications commerciales et parrainages d'événements: 15,3 millions de dollars

Investissements de recherche et développement

Les dépenses de R&D pour 2023 étaient de 126,7 millions de dollars, dédiées à l'innovation technologique et à l'amélioration des plateformes.

Zone de focus R&D	Investissement ($)
Développement de la plate-forme commerciale	62,3 millions
Recherche de trading algorithmique	34,5 millions
Intégration d'apprentissage automatique	29,9 millions

Interactive Brokers Group, Inc. (IBKR) - Modèle d'entreprise: Strots de revenus

Commissions commerciales

Pour l'exercice 2023, les courtiers interactifs ont déclaré des revenus totaux de la Commission de 2,693 milliards de dollars. La société facture des taux de commission par part et par échange dans diverses classes d'actifs.

Classe d'actifs	Structure de commission	Taux moyen
Actions	Prix ​​par partage	0,0035 $ par action
Options	Par contrat	0,65 $ par contrat
Avenir	Par contrat	0,85 $ par contrat

Revenu des intérêts de la marge prêts

En 2023, les courtiers interactifs ont généré 2,214 milliards de dollars de revenus d'intérêts nets. Les taux de prêt de marge de l'entreprise sont généralement basés sur le taux des fonds fédéraux plus une propagation.

Catégorie de prêt de marge	Fourchette de taux d'intérêt
Taux de marge de base	7.5% - 11.5%
Marge de portefeuille	8.33% - 12.33%

Frais d'abonnement des données du marché

Les revenus d'abonnement aux données du marché pour 2023 étaient approximativement 338 millions de dollars. L'entreprise propose des packages de données de marché à plusieurs niveaux:

• Données de marché de base en temps réel
• Données de marché au niveau professionnel
• Abonnements à analyse avancée

Services d'exécution et de compensation

Les revenus des services d'exécution et de compensation pour 2023 ont totalisé 412 millions de dollars. Ces services comprennent:

• Commerce l'exécution sur plusieurs échanges
• Services de compensation pour les clients institutionnels
• Advanced Trading Infrastructure Support

Revenus des transactions de change

Les revenus des transactions de change atteints 267 millions de dollars en 2023. L'entreprise génère des revenus:

• Frais de conversion de devises
• Répartir sur les transactions forex
• Services de négociation transfrontaliers

Type de transaction FX	Frais moyens
Conversion de vente au détail FX	0.2% - 1.0%
Services FX institutionnels	0.1% - 0.5%

Interactive Brokers Group, Inc. (IBKR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why sophisticated traders choose Interactive Brokers Group, Inc. (IBKR) over the competition; it really boils down to cost, access, and technology. Here's the quick math on what they offer as of late 2025.

Lowest all-in cost for sophisticated global trading

• The average commission per cleared Commissionable Order in November 2025 was reported at $2.62, which includes exchange, clearing, and regulatory fees.
• For US stocks under the tiered pricing plan, you can see commissions as low as 0.05% with a minimum fee of $1.25 per trade.
• Currency conversion fees are transparently low, set at only 0.03% for Auto FX rate conversions.

Access to 160+ markets and diverse products from a single account

• Interactive Brokers Group affiliates provide access to trade across over 160 markets in numerous countries.
• You manage positions across these global markets and trade directly in 28 different currencies from one unified platform.
• The platform supports a wide range of products, including stocks, options, futures, foreign exchange, bonds, mutual funds, and ETFs.

Advanced trading tools and AI-powered portfolio insights

• You get access to proprietary technology like the IB SmartRoutingSM system, which continuously evaluates market conditions to seek the best available price electronically.
• The firm offers specialized platforms such as Trader Workstation (TWS) and the web-based IBKR ForecastTrader for expressing views on economic and government events.
• The platform's technology and automation focus is a core strength, enabling sophisticated portfolio management.

High interest paid on idle cash balances for clients

• For IBKR Pro clients with a Net Asset Value (NAV) exceeding $100,000, the annual interest rate on USD cash balances above $10,000 can reach up to 4.33%.
• As of November 4, 2025, the stated rate for this top tier was 3.37% on USD cash balances over $10,000.
• Interest is generally not payable on the first $10,000 (or equivalent) of uninvested cash in each currency holding.

Superior trade execution quality (price improvement)

For professional traders, the commitment to superior execution quality is key, especially since IBKR Pro does not accept Payment for Order Flow (PFOF). This focus results in measurable price improvement. For instance, in November 2025, the total cost for IBKR PRO clients executing U.S. Reg.-NMS stocks was approximately 3.0 basis points of the trade value when benchmarked against the daily VWAP. The net cost over the prior twelve months was slightly better at 2.8 basis points. If onboarding takes 14+ days, churn risk rises, but the execution speed here helps mitigate that. Here is a look at some key November 2025 metrics:

Metric	Value	Context/Benchmark
Total Number of Orders (November 2025)	23.54 million	Total orders processed.
Total Cost as % of Trade Value (Net)	0.030%	Total trading cost for November 2025, including all fees.
Average Commission per Cleared Order	$2.62	Includes exchange, clearing, and regulatory fees.
Average U.S. Reg-NMS Stock Trade Size	$22,756	Average dollar value per trade.

Interactive Brokers Group, Inc. (IBKR) - Canvas Business Model: Customer Relationships

You're looking at how Interactive Brokers Group, Inc. (IBKR) manages its vast and diverse client base as of late 2025. The relationship strategy is clearly bifurcated: heavy automation for the self-directed masses and high-touch, specialized service for professional intermediaries.

Highly automated and self-service digital platforms

The foundation of Interactive Brokers Group, Inc.'s customer relationship is its technology, which drives extreme operational leverage. The core experience is designed for self-service, allowing the firm to scale its client base without a proportional increase in support staff. This is evident in the sheer volume of activity handled through digital channels. As of the third quarter of 2025, Interactive Brokers Group, Inc. served 4.13 million customer accounts, holding total customer equity of $757.5 billion. The platform's automation supports this scale through features like recurring investments and fractional share purchases, which allow for hands-off management by the client.

The self-service model is supported by a clear segmentation of the retail base:

• Access to the powerful Trader Workstation (TWS) platform is a hallmark of the Pro segment.
• The IBKR Lite offering, exclusively for US residents, prioritizes simplicity via the Client Portal and Mobile app.
• IBKR Lite utilizes Payment for Order Flow (PFOF) for its commission-free US stock/ETF trades, contrasting with the SmartRouting system used by the Pro segment.

Dedicated support and tools for Financial Advisors (RIAs)

For the professional segment, Interactive Brokers Group, Inc. shifts from low-touch automation to dedicated, high-utility support. The firm explicitly states it does not have an advisory team to compete with its RIA clients, positioning itself as a pure custodian. Support includes providing complimentary websites with custom graphic design through the IBKR Advisor Client Sites. Furthermore, they facilitate compliance and auditing through tools like Bulk Download of Client Documents. The firm also hosts quarterly Advisor Roundtables, which are advisor-led discussions on utilizing the platform's robust features for wealth management and estate planning.

Tiered service models for advisors (Streamlined to Full-Service)

Interactive Brokers Group, Inc. tailors the level of advisor control and client communication handling through three distinct service models. This tiered approach lets advisors select the operational partnership that best fits their practice structure. The models are:

• Streamlined All-Client Enrollment: This is the default for eligible professional advisor applicants, automatically enrolling clients who then use a simplified approval process for advisor-initiated actions like funding requests.
• Streamlined Plus All-Client Enrollment: Offers the base Streamlined features with additional configuration options for the advisor.
• Full-Service Per-Client Enrollment: Requires individual client enrollment and grants the advisor the power to perform more extensive administrative tasks, including the ability to move funds or assets on behalf of the client, though this may trigger explicit custody notifications.

These models feature an Enhanced Dashboard with a Client Pending Items tab, aggregating communications from Interactive Brokers Group, Inc. to avoid unnecessary direct client contact, routing them to the advisor first.

Educational content via the IBKR InvestMentor app for beginners

To cultivate the next generation of self-directed investors, Interactive Brokers Group, Inc. launched the IBKR InvestMentor mobile microlearning app in July 2025, developed by Interactive Academy LLC. This is a direct effort to improve financial literacy among aspiring investors. The app is free and available for iOS, focusing on foundational knowledge in economics and investing through short, interactive lessons and quizzes. This initiative directly supports the influx of newer investors who may not have formal financial training, reflecting the Chairman's philosophy that success comes from learning on the job.

Direct, low-touch interaction for the IBKR Lite segment

The IBKR Lite segment is inherently designed for a low-touch relationship, catering to US residents who trade US stocks and ETFs occasionally. This segment receives commission-free trades in exchange for routing orders via Payment for Order Flow (PFOF), meaning they do not benefit from the SmartRouting system used by Pro clients. The interaction is simplified to the user-friendly Client Portal and IBKR Mobile, avoiding the complexity of the Trader Workstation (TWS) platform. This setup ensures that the relationship remains transactional and cost-effective for the casual investor, requiring minimal direct intervention from Interactive Brokers Group, Inc. support staff.

Metric Category	Specific Metric	Q3 2025 Value	Year-over-Year Change (vs Q3 2024)
Customer Base Size	Total Customer Accounts (in thousands)	4,127	32% increase
Client Assets	Customer Equity (in billions USD)	$757.5	40% increase
Activity Level	Total Customer DARTs (in thousands)	3,616	34% increase
Client Balances	Customer Credits (in billions USD)	$154.8	33% increase
Lending Activity	Customer Margin Loans (in billions USD)	$77.3	39% increase
Execution Quality Proxy	Commission per Cleared Commissionable Order (USD)	$2.70	(5%) decrease

Interactive Brokers Group, Inc. (IBKR) - Canvas Business Model: Channels

You're looking at how Interactive Brokers Group, Inc. (IBKR) gets its sophisticated platform and services into the hands of its diverse client base, spanning from individual traders to large institutions. The channels are heavily technology-driven, which is key to their low-cost structure.

Proprietary trading platforms (Trader Workstation, IBKR Mobile, IBKR Desktop)

The core delivery mechanism remains the proprietary software suite. The Trader Workstation (TWS) is the flagship, but the mobile and desktop versions are critical for accessibility. These platforms are the gateway for the massive client base growth seen through 2025.

Consider the scale: by November 2025, Interactive Brokers Group, Inc. (IBKR) served 4.311 million client accounts. This activity flows through these channels, evidenced by the 4.273 million Daily Average Revenue Trades (DARTs) reported for November 2025. The platform's technological sophistication is what keeps the more active users engaged; for instance, the annualized average cleared DARTs per client account was 214 in November 2025. The platform also supports trading across over 160 markets in numerous countries.

Direct online account opening and web portal

The direct digital channel is where most new clients start. The ability to onboard digitally is a major driver of growth. For context, the company added 96,100 net new accounts in August 2025 alone, a 44% increase year over year. The platform's success in attracting new users is clear: customer accounts increased by 32% year-on-year to reach 4.13 million as of September 2025.

The integration of cash management features directly into the spending channel is a recent, significant development. The Karta Visa Card, launched in October 2025, directly links spending to the brokerage account. This cash management offering allows clients to earn interest up to 3.62% on idle cash or borrow at rates between 4.62% and 5.62%.

Application Programming Interfaces (APIs) for institutional integration

For institutional clients, hedge funds, and sophisticated retail programmers, the Application Programming Interfaces (APIs) are the primary channel for high-volume, automated access. Interactive Brokers Group, Inc. (IBKR) offers several interfaces to embed their execution capabilities into external systems.

The API offerings include:

• Web API (modern REST API for account opening, management, and trading).
• TWS API (trading-oriented for C++, C#, Java, Python development).
• FIX connection (industry standard for institutions needing direct, scalable trading systems).
• Excel API (for managing accounts and automating strategies using Excel).

These tools help Interactive Brokers Group, Inc. (IBKR) serve proprietary trading groups and financial advisors who build custom technology stacks on top of the Interactive Brokers Group, Inc. (IBKR) infrastructure.

Introducing Broker network for client acquisition

The Introducing Broker (IB) network is a vital channel for client acquisition, especially internationally, where Interactive Brokers Group, Inc. (IBKR) partners with local entities to onboard clients. This channel serves financial advisors and other brokers who use the Interactive Brokers Group, Inc. (IBKR) back-end for execution and custody.

The scale of this channel is significant, though subject to change. In September 2025, the withdrawal of one introducing broker resulted in the loss of 38.8 thousand accounts and $413.5 million of customer assets. This single event highlights the concentration risk and the sheer volume that can flow through a major IB partner. The commission mix for Interactive Brokers Group, Inc. (IBKR) generally sees retail and institutional clients (which includes IBs) at about 55% and 45%, respectively.

Karta Visa Card linked to brokerage accounts

The Karta Visa Card, introduced in late 2025, is a direct-to-consumer channel that blurs the line between brokerage and everyday finance. It allows eligible clients to spend directly from their USD brokerage balances globally with no foreign transaction fees. This move is part of a broader strategy to transition toward a full-service financial platform.

The financial metrics supporting the cash management aspect of this channel show strong underlying balances as of late 2025. Ending client credit balances stood at $154.0 billion in November 2025, up 30% year over year. The card itself offers premium amenities, including 24/7 luxury travel concierge services.

Here are some key figures related to the cash management ecosystem that the Karta Card leverages:

Metric	Value (as of late 2025)	Context
Ending Client Credit Balances (November 2025)	$154.0 billion	Up 30% year over year.
Interest Earned on Idle Cash (Max)	3.62%	Part of the cash management solution.
Borrow Rates (Range)	4.62% to 5.62%	For covering shortfalls from a single brokerage account.
GAAP Net Revenue (Q3 2025)	$1.66 billion	Reflects strong trading and interest income environment.

Interactive Brokers Group, Inc. (IBKR) - Canvas Business Model: Customer Segments

You're looking at the core client base that drives the engine at Interactive Brokers Group, Inc. (IBKR) as of late 2025. The strategy here is clearly about breadth and depth, serving everyone from the most demanding professional to the everyday retail investor globally. This multi-faceted approach is what keeps their platform sticky.

The overall scale of the client base shows massive growth. As of the third quarter of 2025 (3Q2025), Interactive Brokers Group, Inc. had 4,127 thousand total customer accounts, which is a 32% increase year-over-year from 3Q2024. Customer Equity, which is the total value held in client accounts, reached $757.5 billion, marking a 40% jump from the prior year. By September 2025, the average account size settled around ~$183,400.

Sophisticated, high-volume individual traders and investors

This group represents the traditional core of Interactive Brokers Group, Inc.'s business, drawn by the platform's execution quality and low costs across a vast array of products. These clients are the ones driving the high Daily Average Revenue Trades (DARTs). Total client DARTs hit 3.62 million in 3Q2025, up 34% year-over-year. Their trading activity is significant; for instance, stock trading volume was up 67% and options volume was up 27% in 3Q2025 compared to the year-ago quarter.

The platform supports their complex needs with access to over 160 markets and a unified master account structure.

Financial Advisors and Wealth Managers (RIAs)

Interactive Brokers Group, Inc. actively courts Registered Investment Advisors (RIAs) with technology-driven brokerage and custodial solutions. An April 2025 survey indicated that the financial advisors using their platform have substantial responsibility, with the average respondent managing $56 million in client assets. Furthermore, the firms these advisors work for oversee an average of $120.2 million in client assets.

• The platform offers a Web-based Advisor Portal with integrated CRM and PortfolioAnalyst®.
• A notable 72% of surveyed advisors expressed confidence in growing their businesses in 2025.
• 28% of advisor firms surveyed manage an average of $350 million in client assets.

Hedge Funds and Proprietary Trading Groups

This segment relies on Interactive Brokers Group, Inc.'s sophisticated technology for superior execution and risk management tools. The firm has cemented its position in this space, rising to #4 in Preqin's hedge fund rankings based on the number of hedge funds serviced as of 3Q2025. These groups contribute to the high-volume trading metrics seen across the platform.

Global retail investors (IBKR Lite for zero-commission US stocks)

While the sophisticated segment drives high-margin activity, the global retail segment, including those using the IBKR Lite offering for zero-commission US stock trades, is crucial for account growth. The total account base grew 32% year-over-year to 4.13 million in 3Q2025. The influx of new investors, potentially attracted by offerings like IBKR Lite, has been a major driver of this growth, though the average account size is lower than the historical peak.

Institutional clients requiring outsourced trading services

Beyond direct hedge fund relationships, Interactive Brokers Group, Inc. serves broader institutional needs, including introducing brokers. The platform's ability to handle diverse asset classes and global access appeals to institutions needing outsourced execution. The commission revenue for the entire client base was $537 million in 3Q2025.

Here's a quick look at the scale of assets and activity supporting these segments as of 3Q2025:

Metric	Value (3Q2025)	Comparison to 3Q2024
Total Customer Accounts	4,127 thousand	Up 32%
Customer Equity	$757.5 billion	Up 40%
Total Customer DARTs	3,616 thousand	Up 34%
Customer Margin Loans	$77.3 billion	Up 39%
Commission Revenue	$537 million	Up 23%

The platform's ability to service these diverse groups is underpinned by its technology, which allows for trading on over 160 markets from a single account.

Finance: draft 13-week cash view by Friday.

Interactive Brokers Group, Inc. (IBKR) - Canvas Business Model: Cost Structure

The cost structure for Interactive Brokers Group, Inc. (IBKR) is heavily weighted toward technology infrastructure, which is a necessary high fixed cost to support its automated, global electronic brokerage platform.

Regulatory and compliance expenses manifest through various fees and penalties. For the quarter ended September 30, 2025, Execution, clearing and distribution fees were $92 million, a decrease of 21% from the year-ago quarter, driven by lower regulatory fees as the SEC Section 31 transaction fee rate was reduced to zero on May 14, 2025. This followed $116 million in these fees for the quarter ended June 30, 2025, which included a new FINRA Consolidated Audit Trail ("CAT") fee initiated in the fourth quarter of 2024. Separately, Interactive Brokers LLC consented to a $650,000 fine from the Financial Industry Regulatory Authority (FINRA) in August 2025 regarding options approval failures, and agreed to a $125,000 fine in September 2025 for municipal bond disclosure violations.

Compensation and benefits reflect a lean, specialized workforce. The headcount at June 30, 2025, was 3,087 employees. For the quarter ended June 30, 2025, employee compensation and benefits increased to $163 million from $146 million in the prior year, reflecting a modest staff increase of 3% over the prior year. Another report indicated Compensation and Benefits Expense was $154 million with a 3% staff increase over the prior year.

Exchange, clearing, and distribution fees are variable based on trading volumes. These fees were $116 million for the second quarter of 2025 and decreased to $92 million for the third quarter of 2025.

Advertising and marketing expenses showed an increase in the second quarter of 2025. General and administrative expenses for Q2 2025 were $61 million, driven primarily by an increase of $8 million in advertising expenses, representing a 17% rise in G&A expenses year-over-year. For the quarter ended September 30, 2025, there was an increase of $10 million in advertising expenses, though total General and administrative expenses decreased to $62 million due to non-recurrences related to legal and regulatory matters.

Here is a summary of key expense line items from recent quarters:

Expense Category	Period Ending June 30, 2025 (Q2 2025)	Period Ending September 30, 2025 (Q3 2025)
General and Administrative Expenses	$61 million	$62 million
Advertising Expenses (Increase in Q2 2025 G&A)	$8 million increase	$10 million increase (part of Q3 G&A)
Compensation and Benefits Expense	$163 million	Not explicitly stated
Execution, Clearing and Distribution Fees	$116 million	$92 million
Total Operating Expenses	$376 million	$1.43 billion

The cost structure is also influenced by the following operational factors:

• Average commission per cleared Commissionable Order for Stocks was $1.94 in May 2025.
• Average commission per cleared Commissionable Order for Equity Options was $3.61 in May 2025.
• The estimated exchange, clearing and regulatory fees as a percentage of futures commissions was 58% in May 2025.
• Total assets ended Q3 2025 at $181,000,000,000 (or $181 billion).

Interactive Brokers Group, Inc. (IBKR) - Canvas Business Model: Revenue Streams

You're looking at the engine room of Interactive Brokers Group, Inc. (IBKR)'s profitability, and frankly, the numbers coming out of Q3 2025 show a well-oiled machine, especially when you see how they monetize client assets.

Net Interest Income remains the heavyweight champion, clocking in at $967 million for the third quarter of 2025. That's a solid 21% increase year-over-year. This income stream is directly fueled by the growth in client lending and cash balances. You see, Interactive Brokers Group, Inc. is effectively using its massive client asset base to generate returns, which is key for any modern brokerage.

Next up is Commission revenue, which hit $537 million in Q3 2025, a 23% jump from the prior year. This growth came despite a 7% dip in futures trading; the real juice was in stocks, which saw trading volumes surge by 67%, and options, up 27%. That shows you where the client focus was this past quarter.

Here's a quick look at how these top two streams stack up against other reported revenue components for the quarter ended September 30, 2025:

Revenue Component	Q3 2025 Amount (Millions USD)
Net Interest Income	$967
Commission Revenue	$537
Other Fees and Services	$66
Execution, Clearing and Distribution Fees	$92
Other Income	$85

When we drill down into the interest-bearing activities, you can see the direct link to client leverage and cash holdings. Interactive Brokers Group, Inc. reported that Customer margin loans increased 39% to $77.3 billion as of September 30, 2025. This higher average loan balance directly contributed to the rise in Net Interest Income.

The securities lending income component is also a significant, though often less visible, part of that interest income story. If you were to aggregate the revenue from securities lending-where Interactive Brokers Group, Inc. lends out clients' fully paid shares-under a single line item, the estimated total for the quarter would have been $314 million. That's double the $156 million earned in the year-ago quarter, showing a major uptick in securities lending opportunities.

Finally, you have the miscellaneous bucket of other fees, which totaled $66 million, an 8% decrease overall. This category is a mix of charges and credits, so you have to look at the components:

• The decrease was led by a $12 million drop in risk exposure fees.
• This was partially offset by a $3 million increase in FDIC sweep fees.
• The FDIC sweep program itself averaged $5.96 billion in the quarter, quietly adding to net interest income.

Also, don't forget the Other income line, which jumped 52% to $85 million, largely thanks to $42 million from investing activities, though a $21 million lower gain on currency diversification tempered the total.

Finance: draft 13-week cash view by Friday.