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Interactive Brokers

Interactive Brokers Group, Inc.
Company typePublic
IndustryFinancial services
Founded1978 (1978), in New York City, U.S.
FounderThomas Peterffy
Headquarters
Greenwich, Connecticut, U.S.
Number of locations
27 (2023)
Area served
Worldwide
Key people
  • Thomas Peterffy (chairman)
  • Milan Galik (President & CEO)
ProductsDirect market access to stocks, options, futures, forex, bonds, and ETFs
ServicesOnline brokerage, direct-access trading
RevenueIncrease US$4.340 billion (2023)
Increase US$3.069 billion (2023)
Increase US$2.812 billion (2023)
Total assetsIncrease US$128.4 billion (2023)
Total equityIncrease US$3.584 billion (2023)
Number of employees
2,932 (2023)
WebsiteOfficial website Edit this at Wikidata
Footnotes / references
[1]
A dark office filled with computers; screens of financial data fill one wall
IB Technical Operations

Interactive Brokers, Inc. (IB), headquartered in Greenwich, Connecticut, is an American multinational brokerage firm. It operates the largest electronic trading platform in the United States by number of daily average revenue trades - in 2023, it processed an average of 3 million trades per trading day.[1] The company brokers stocks, options, futures contracts, EFPs, futures options, forex, bonds, mutual funds, and cryptocurrency. It offers omnibus and non-disclosed broker accounts and provides clearing services to 200 introducing brokers worldwide. It has operations in 34 countries and 27 currencies and has 2.6 million institutional and individual brokerage customers, with total customer equity of $426 billion as of December 31, 2023.[1]

The broker was founded by and is indirectly 74.6% owned by and chaired by Thomas Peterffy, an early innovator in computer-assisted trading.

Interactive Brokers is the largest electronic brokerage firm in the US by number of daily average revenue trades,[2] and is the largest forex broker.[3] Interactive Brokers also targets commodity trading advisors, making it the fifth-largest prime broker servicing them.[4] It provides correspondent clearing services to 200 introducing brokers worldwide, as of 2014.[5] As of December 2021, the company serves 1.68 million client brokerage accounts, with $373.8 billion in customer equity.[6]: 43  As of 2021, about 23.5 percent of the company is publicly held, while the remainder is held by employees; Thomas Peterffy is the largest shareholder.[6]: 37  It has offered direct market access to Australian contracts for difference since 2008.[7] As of 2015, mobile transactions accounted for about 10% of the company's retail orders.[8] Interactive Brokers maintains a 163,510-square-foot (15,191 m2) headquarters in downtown Greenwich, Connecticut.[9]: 36  The company also has offices in Budapest, Chicago, Dublin, Hong Kong, London, Luxembourg, Montreal, Mumbai, San Francisco, Singapore, Sydney, Tokyo, Toronto, West Palm Beach, Ft. Lauderdale and Zug.[6]: 32 [better source needed] More than half of the company's customers reside outside the United States, in approximately 200 countries.[10]: 15 

The company traces its roots to T.P. & Co., a market maker founded in 1977 and renamed Timber Hill Inc. in 1982. In 1979, it became the first to use fair value pricing sheets on a stock exchange trading floor. In 1983, it became the first to use handheld computers for trading. In 1987, Peterffy also created the first fully automated algorithmic trading system, to automatically create and submit orders to a market. Between 1993 and 1994, the corporate group Interactive Brokers Group was created, and the subsidiary Interactive Brokers LLC was created to control its electronic brokerage, and to keep it separate from Timber Hill, which conducts market making. In 2014, Interactive Brokers became the first online broker to offer direct access to IEX, a private forum for trading securities. In 2021, the company launched trading in cryptocurrencies, including Bitcoin and Ethereum.

The company is ranked 473rd on the Fortune 500.[11]

  1. ^ a b c Cite error: The named reference FY2023 was invoked but never defined (see the help page).
  2. ^ Cite error: The named reference FactSheet was invoked but never defined (see the help page).
  3. ^ Cite error: The named reference ForexBrokers was invoked but never defined (see the help page).
  4. ^ Cite error: The named reference CTAs was invoked but never defined (see the help page).
  5. ^ Cite error: The named reference Clearing was invoked but never defined (see the help page).
  6. ^ a b c Cite error: The named reference FY2021 was invoked but never defined (see the help page).
  7. ^ Cite error: The named reference CFDs was invoked but never defined (see the help page).
  8. ^ Cite error: The named reference 2015Barrons was invoked but never defined (see the help page).
  9. ^ Cite error: The named reference FY2016 was invoked but never defined (see the help page).
  10. ^ Cite error: The named reference FY2017 was invoked but never defined (see the help page).
  11. ^ "Interactive Brokers Group". Fortune.
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