Interactive Brokers ended 2025 with a record 4.4 million client accounts, up 32% year-over-year, as new and existing investors increased activity. Customer equity—the total value of cash and securities held on the platform—soared 37% to $779.9 billion, directly boosting commission revenue. Daily transaction volume averaged 4.04 million trades in Q4, a 30% gain from the prior year, and outstanding margin loans climbed 40% to $90.2 billion, reflecting bullish client sentiment and generating both higher commission and interest income for the firm.

Interactive Brokers generated a record $6.2 billion in revenue last year, a 19.5% increase driven by two main segments. Commission revenue rose 26.6% to $2.1 billion as trading volumes surged, while net interest income grew 13.2% to $3.5 billion on the back of expanding client cash balances and margin loans. Other income and service fees contributed an additional $493 million. At the bottom line, operating efficiencies and strong top-line growth enabled adjusted earnings per share of $2.22, up 28.3% versus 2024.

The company’s price-to-earnings ratio stands at 34.9, trading at a premium to broader market averages, underscoring investor willingness to pay up for its rapid client acquisition and fee-earning capacity. Its inclusion in the S&P 500 last August—after surpassing profitability and market-cap thresholds—further cemented its profile among institutional investors. Year-to-date performance has outpaced the index, with shares rising approximately 20% in January compared to a low single-digit gain in the S&P 500.

While net interest income has benefited from surging client balances and margin lending, further Federal Reserve rate cuts scheduled for 2026 could pressure this key revenue stream. To date, asset growth has offset declining short-term yields, but sustaining that trend is uncertain. A slowdown in client asset inflows or a deceleration in margin borrowing would expose Interactive Brokers to margin compression on its largest income source.