Interactive Brokers (UK) Sees 21% YoY Jump in Total Turnover in 2020

Fazzaco learned that Interactive Brokers (UK) Limited, a broker/dealer trading company in the UK, has posted its annual financial figures for the year 2020, ending on December 31, revealing a huge growth in turnover on a YoY basis.

More specifically, the FCA-regulated broker registered a total turnover of £42.3 million, compared to the previous year’s £35 million. The pre-tax profits came in at £15.3 million, 14.5% lower than a year earlier(2019: £17.9 million). The after-tax profit reached £13.8 million.

Number of clients rose to 53,895 from 44,216 the year before, showing an increase of 21.9%. However, a mass migration of clients occurred from the UK entity to other sister entities resulting in a drop of 44 percent in clients’ numbers.

This year, the broker aims to expand the number of clients further and also increase the ‘usage of services currently offered’.

As Fazzaco reported earlier, Interactive Brokers LLC (NASDAQ: IBKR) has recently unveiled several enhancements to its Portal for individual clients, advisors and brokers​, which mainly concern client report delivery and account queries.