Interactive Brokers Sees 16% YoY Decrease in DARTs for March 2023

Interactive Brokers, one of the biggest US-based brokerage firms, has released its Electronic Brokerage monthly performance metrics for March 2023, recording the Daily Average Revenue Trades (DARTs) of 2.055 million, a decrease of 16% on a yearly basis and a decrease of 3% on a monthly basis.

The broker ended the month with $343.1 billion client equity, 4% lower than prior year and 3% higher than prior month. Ending client margin loan balances stood at $39.4 billion, down 18% on a YoY basis and up 1% on a MoM basis.

Ending client credit balances was $96.6 billion, including $2.4 billion in insured bank deposit sweeps, 4% higher than prior year and 1% lower than prior month.

2.20 million client accounts were recorded for the month, up 21% on a yearly basis and up 2% on a monthly basis.

The average commission per cleared Commission Order was $3.21 including exchange, clearing and regulatory fees.

Interactive Brokers has had a relative rough time recently. Fazzaco previously reported on retail FX deposits at brokerages registered in the US, including Gain Capital and OANDA, where only Interactive Brokers notched decreases in Retail Forex Obligation​. And the company's retail FX deposits have fallen for the fourth consecutive month, experiencing a 5.06% decline to $23.4 million in January 2023.

Last month, the Australian regulator ASIC also made two interim stop orders​ preventing Interactive Brokers from issuing Stock Yield Enhancement Program (SYEP) Derivatives to retail investors because of deficiencies in the product's target market determination (TMD) and product disclosure statement (PDS).