Interactive Brokers Group, Inc. (IBKR): Modelo de Negócios Canvas [Jan-2025 Atualizado]

O Interactive Brokers Group, Inc. (IBKR) permanece como uma força revolucionária no cenário de negociação financeira, oferecendo uma mistura incomparável de tecnologia de ponta, acesso global ao mercado e soluções de negociação notavelmente de baixo custo. Ao alavancar plataformas proprietárias sofisticadas e um modelo de negócios inovador, a IBKR transformou como comerciantes profissionais, investidores de varejo e clientes institucionais navegam em mercados financeiros complexos, fornecendo uma experiência comercial perfeita, eficiente e tecnologicamente avançada que desafia os paradigmas tradicionais de corretagem.

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: Parcerias -chave

Provedores de tecnologia para plataformas de negociação avançada

Os corretores interativos colaboram com os principais parceiros de tecnologia para manter sua sofisticada infraestrutura comercial:

Parceiro de tecnologia	Foco específico de colaboração	Ano estabelecido
Microsoft Azure	Serviços de infraestrutura em nuvem	2019
Redes Palo Alto	Soluções de segurança cibernética	2017
Amazon Web Services	Suporte à computação em nuvem	2016

Bolsas de valores globais e mercados financeiros

Os corretores interativos mantêm a conectividade direta com várias trocas globais:

• NASDAQ (Estados Unidos)
• NYSE (Estados Unidos)
• Bolsa de Valores de Londres
• Bolsa de Valores de Tóquio
• Bolsa de Valores de Hong Kong
• Bolsa de Valores de Frankfurt

Provedores de liquidez e fabricantes de mercado

As principais parcerias de liquidez do mercado incluem:

Provedor de liquidez	Volume de negociação (2023)	Tipo de relacionamento
Títulos da Cidadela	US $ 462 bilhões diariamente	Criador de mercado primário
Virtu Financial	US $ 387 bilhões por dia	Fabricante de mercado secundário

Empresas regulatórias de conformidade e consultoria legal

As parcerias de conformidade incluem:

• Deloitte & Touche LLP (consultoria regulatória)
• PricewaterhouseCoopers (Consultoria de conformidade)
• KPMG (Serviços de Gerenciamento de Risco)

Provedores de serviços de computação em nuvem e segurança cibernética

Parcerias críticas de infraestrutura de tecnologia:

Provedor	Tipo de serviço	Valor anual do contrato
Amazon Web Services	Infraestrutura em nuvem	US $ 24,3 milhões
Microsoft Azure	Serviços em nuvem	US $ 18,7 milhões
Redes Palo Alto	Segurança cibernética	US $ 12,5 milhões

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: Atividades -chave

Desenvolvimento de plataforma de negociação eletrônica

Os corretores interativos investiram US $ 159,1 milhões em despesas de tecnologia e desenvolvimento em 2022. A plataforma Trader Workstation (TWS) suporta negociações em 135 mercados em 33 países.

Métricas de plataforma	2022 dados
Investimento em tecnologia	US $ 159,1 milhões
Mercados suportados	135
Países cobertos	33

Agregação e análise de dados de mercado

A IBKR processa uma média de 2,2 milhões de operações diárias com dados de mercado em tempo real em várias classes de ativos.

• Cobertura de dados do mercado de ações: mais de 90 trocas globais
• Dados do mercado de opções: 16 trocas de opções
• Dados do mercado de futuros: 24 trocas de futuros globais

Gerenciamento de riscos e monitoramento de conformidade

Métricas de gerenciamento de riscos	2022 Figuras
Equipe de conformidade regulatória	Mais de 350 profissionais
Investimento em tecnologia de conformidade	US $ 45,3 milhões
Sistemas de monitoramento de risco	Avaliação de risco algorítmico em tempo real

Suporte ao cliente e manutenção de infraestrutura de negociação

A IBKR mantém o suporte global de clientes 24/7 em vários idiomas com mais de 1.600 pessoas de suporte.

• Idiomas de suporte: 16 idiomas
• Centros de Suporte Global: 7 Locais
• Tempo médio de resposta: menos de 30 segundos

Otimização do sistema de negociação algorítmico e automatizado

Os corretores interativos operam sistemas de negociação algorítmica avançados processando mais de US $ 2,1 trilhões em volume mensal de negociação.

Métricas de negociação algorítmica	2022 Performance
Volume de negociação mensal	US $ 2,1 trilhões
Estratégias de negociação algorítmica	Mais de 50 estratégias automatizadas
Latência do sistema	Execução sub-milissegundo

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: Recursos -chave

Tecnologia de negociação proprietária avançada

Os corretores interativos operam uma infraestrutura tecnológica sofisticada com as seguintes especificações:

Métrica de tecnologia	Dados quantitativos
Velocidade de execução da plataforma de negociação	Latência média de 0,001 segundos
Volume de negociação diário processado	2,4 milhões de negociações por dia
Tempo de atividade do sistema	99,9% de confiabilidade

Extensa infraestrutura de acesso ao mercado

Os corretores interativos mantêm conectividade abrangente do mercado global:

• Acesso ao mercado direto a 135 mercados globais
• Capacidades de negociação em 33 países
• Conectividade a mais de 100 trocas eletrônicas em todo o mundo

Equipes de tecnologia e engenharia financeira altamente qualificadas

Métrica da força de trabalho	Dados quantitativos
Total de funcionários	2.400 a partir de 2023
Equipe de tecnologia	1.100 profissionais de tecnologia
Conhecimento técnico médio dos funcionários	12,5 anos de experiência no setor

Sistemas robustos de segurança cibernética e proteção de dados

Investimento de segurança cibernética: US $ 47,3 milhões alocados à infraestrutura de segurança digital em 2023

• Protocolos de criptografia de várias camadas
• Sistemas de monitoramento de ameaças em tempo real
• Mecanismos de autenticação biométrica avançada

Bancos de dados de mercado financeiro abrangente

Característica do banco de dados	Especificação quantitativa
Cobertura de dados do mercado histórico	Mais de 25 anos de registros financeiros históricos
Fontes de dados em tempo real	Mais de 200 provedores globais de dados financeiros
Processamento de dados de mercado diário	3.5 Petabytes de informações financeiras

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: proposições de valor

Comissões comerciais de baixo custo em várias classes de ativos

Interactive Brokers oferece taxas de comissão de negociação competitiva:

Classe de ativos	Taxa de comissão típica
Ações	US $ 0,0035 por ação, mínimo $ 0,35
Opções	US $ 0,65 por contrato
Futuros	US $ 0,85 por contrato
Forex	US $ 2 por milhão de USD negociados

Tecnologia avançada com ferramentas de negociação sofisticadas

Os principais recursos tecnológicos incluem:

• Plataforma Trader Workstation (TWS)
• Análise interativa
• Dados de mercado em tempo real
• Ferramentas de gráficos avançados

Acesso ao mercado global para investidores de varejo e institucional

Detalhes da cobertura do mercado:

Categoria de mercado	Número de mercados
Mercados de ações	135+ trocas globais
Mercados derivativos	23 trocas de futuros
Mercados de títulos	Mais de 50 mercados de títulos

Preços transparentes e estrutura mínima de taxas

Repartição de taxas:

• Sem taxas de manutenção de conta
• Sem taxas de inatividade
• Taxas de margem tão baixas quanto 1,41% (a partir do quarto trimestre 2023)

Execução de alta velocidade e plataformas de negociação sofisticadas

Métricas de desempenho:

Métrica de execução	Desempenho
Velocidade média de execução comercial	0,01 segundos
Eficiência de roteamento de pedidos	99,7% de taxa de preenchimento

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: Relacionamentos do cliente

Plataformas digitais de autoatendimento

A Interactive Brokers fornece uma plataforma digital abrangente com 1,9 milhão de contas de clientes a partir do quarto trimestre 2023. A plataforma suporta negociações em 135 mercados em 33 países com acesso em tempo real.

Recurso da plataforma	Métrica
Contas de clientes totais	1,900,000
Cobertura global do mercado	135 mercados
Países apoiados	33

Sistemas automatizados de suporte ao cliente

Os corretores interativos utilizam tecnologias avançadas de suporte automatizado com um tempo de resposta inferior a 30 segundos para consultas digitais.

• Suporte de bate -papo automatizado 24 horas por dia, 7 dias por semana
• Sistema de resolução de ingressos movidos a IA
• Infraestrutura de suporte multilíngue

Extensos recursos educacionais online

A empresa oferece mais de 500 webinars educacionais anualmente com mais de 250.000 participantes registrados.

Recurso educacional	Volume anual
Webinars	500+
Participantes registrados	250,000

Gerenciamento de contas personalizado para clientes institucionais

Os corretores interativos gerenciam US $ 324 bilhões em ativos de clientes para investidores institucionais a partir do quarto trimestre 2023.

• Gerentes de relacionamento dedicados
• Soluções de negociação personalizadas
• Ferramentas avançadas de gerenciamento de risco

Fóruns comerciais orientados para a comunidade e compartilhamento de conhecimento

Os corretores interativos mantêm plataformas comunitárias on -line com 75.000 participantes mensais ativos.

Métrica comunitária	Volume
Participantes ativos mensais	75,000
Fóruns de discussão	12

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: Canais

Plataforma de negociação baseada na Web

Os corretores interativos oferecem uma plataforma de negociação abrangente baseada na Web com as seguintes especificações:

Recurso da plataforma	Especificação
Nome da plataforma	Webtrader
Mercados suportados	Mais de 100 mercados globais
Classes de ativos	Ações, opções, futuros, forex, títulos, ETFs
Volume de negociação diária (2023)	2,4 milhões de negociações por dia

Aplicativos de negociação móvel

A Interactive Brokers fornece recursos de negociação móvel em várias plataformas:

• Aplicativo móvel iOS
• Aplicativo móvel Android
• Interfaces compatíveis com tablets
• Acesso de dados de mercado em tempo real

Software de negociação de desktop

Recursos proprietários do Trader Workstation (TWS):

Atributo de software	Detalhes
Compatibilidade da plataforma	Windows, MacOS, Linux
Usuários ativos (2023)	1,7 milhão de usuários registrados
Charting avançado	Mais de 200 indicadores técnicos

Integração da API para comerciantes algorítmicos

Os corretores interativos suportam várias interfaces de programação:

• Java API
• API Python
• .NET API
• Rest API

Acesso ao mercado direto através de interfaces eletrônicas

Especificações de conectividade direta:

Tipo de acesso	Cobertura
Trocas globais conectadas	135+ trocas em todo o mundo
Roteamento de acesso ao mercado direto	Velocidades de execução sub-milissegundos
Protocolos de negociação eletrônica	FIX, NASDAQ ITCH, OPRA

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: segmentos de clientes

Comerciantes e investidores profissionais

Os corretores interativos atendem aos comerciantes profissionais com características específicas:

• Tamanho médio da conta: $ 255.000
• Total Professional Trader Contas: 152.000 a partir do quarto trimestre 2023
• Volume de negociação anual para segmento profissional: 2,1 trilhões USD

Métrica de segmento	Valor
Negociações diárias médias	385,000
Uso da margem	68%
Diversificação de ativos	4.3 Classes de ativos diferentes por conta

Investidores de varejo

Os corretores interativos têm como alvo os investidores de varejo com recursos competitivos:

• Contas totais de investidores de varejo: 1,7 milhão a partir de 2023
• Saldo mínimo de abertura da conta: $ 0
• Tamanho médio da conta do investidor de varejo: US $ 45.000

Investidores institucionais e fundos de hedge

Detalhes do segmento institucional:

• Total de ativos institucionais de clientes: US $ 324 bilhões
• Número de clientes institucionais: 1.850
• Tamanho médio da conta institucional: US $ 175 milhões

Métricas de segmento institucional	Valor
Porcentagem de negociação algorítmica	62%
Negociações mensais médias	245,000

Empresas comerciais de alta frequência

Características do segmento de negociação de alta frequência:

• Clientes comerciais totais de alta frequência: 287
• Volume médio de negociação diária: 1,2 milhão de transações
• Porcentagem de negociação eletrônica: 94%

Comerciantes internacionais que buscam acesso ao mercado global

Estatísticas do segmento de acesso ao mercado global:

• Contas do Terceiro Internacional Total: 385.000
• Número de mercados suportados: 150
• Taxa de crescimento da conta do trader internacional: 22% em 2023

Métricas de segmento internacional	Valor
Países apoiados	220
Pares de moeda estrangeira	100+

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

Em 2023, interativos corretores relataram despesas de tecnologia e comunicação de US $ 351,4 milhões. A empresa mantém uma sofisticada plataforma de negociação global em várias classes e mercados de ativos.

Categoria de custo de tecnologia	Despesa anual ($)
Infraestrutura de TI	172,6 milhões
Sistemas de rede e comunicação	89,3 milhões
Investimentos de segurança cibernética	45,2 milhões
Serviços de computação em nuvem	44,3 milhões

Despesas de conformidade regulatória

Os corretores interativos alocaram aproximadamente US $ 87,5 milhões para conformidade regulatória e despesas legais em 2023.

• Custos de arquivamento regulatório: US $ 22,3 milhões
• Sistemas de tecnologia de conformidade: US $ 35,6 milhões
• Serviços de Consultoria Jurídica: US $ 29,6 milhões

Compensação dos funcionários

As despesas totais de remuneração de 2023 foram de US $ 597,8 milhões, cobrindo especialistas técnicos e financeiros nas operações globais.

Categoria de funcionários	Compensação média anual ($)
Profissionais de tecnologia	185,000
Analistas financeiros	210,000
Oficiais de conformidade	165,000
Gestão executiva	475,000

Custos de marketing e aquisição de clientes

As despesas de marketing de 2023 totalizaram US $ 64,2 milhões, com foco em estratégias de aquisição de clientes digitais e direcionadas.

• Publicidade digital: US $ 27,6 milhões
• Marketing de conteúdo: US $ 12,4 milhões
• Programas de referência: US $ 8,9 milhões
• Patrocínios de feira e evento: US $ 15,3 milhões

Investimentos de pesquisa e desenvolvimento

As despesas de P&D para 2023 foram de US $ 126,7 milhões, dedicadas à inovação tecnológica e aprimoramento da plataforma.

Área de foco em P&D	Investimento ($)
Desenvolvimento da plataforma de negociação	62,3 milhões
Pesquisa de negociação algorítmica	34,5 milhões
Integração de aprendizado de máquina	29,9 milhões

Interactive Brokers Group, Inc. (IBKR) - Modelo de negócios: fluxos de receita

Comissões de negociação

Para o ano fiscal de 2023, os corretores interativos reportaram receitas totais da Comissão de US $ 2,693 bilhões. A empresa cobra taxas de comissão por compartilhamento e comércio em várias classes de ativos.

Classe de ativos	Estrutura da comissão	Taxa média
Ações	Preços por ação	US $ 0,0035 por ação
Opções	Por contrato	US $ 0,65 por contrato
Futuros	Por contrato	US $ 0,85 por contrato

Receita de juros de empréstimos de margem

Em 2023, corretores interativos gerados US $ 2,214 bilhões em receita de juros líquidos. As taxas de empréstimos de margem da empresa geralmente são baseadas na taxa de fundos federais mais um spread.

Categoria de empréstimo de margem	Intervalo de taxa de juros
Taxa de margem base	7.5% - 11.5%
Margem de portfólio	8.33% - 12.33%

Taxas de assinatura de dados de mercado

As receitas de assinatura de dados de mercado para 2023 foram aproximadamente US $ 338 milhões. A empresa oferece pacotes de dados de mercado em camadas:

• Dados básicos de mercado em tempo real
• Dados de mercado em nível profissional
• Assinaturas de análise avançada

Serviços de execução e compensação

Receitas de serviço de execução e compensação para 2023 totalizaram US $ 412 milhões. Esses serviços incluem:

• Execução comercial em várias trocas
• Limpeza de serviços para clientes institucionais
• Suporte avançado à infraestrutura de negociação

Receitas de transação cambial

Receitas de transação em câmbio alcançadas US $ 267 milhões em 2023. A empresa gera renda através de:

• Taxas de conversão de moeda
• Espalhar transações forex
• Serviços de negociação transfronteiriços

Tipo de transação FX	Taxa média
Conversão de FX de varejo	0.2% - 1.0%
Serviços Institucionais de FX	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.