Interactive Brokers’ DARTs Jump 29% as Multi-Asset Trading Trend Deepens

What Stands Out in Interactive Brokers’ Latest Activity Data?

Interactive Brokers reported another strong month in November, continuing a multi-year climb in trading intensity and client balances. Daily average revenue trades (DARTs) hit 4.27 million, up 29% from a year earlier. Activity slipped 4% from October, but the firm’s year-over-year gains match the 27%–29% range viewn throughout the summer and ahead autumn, pointing to steady engagement rather than a short-lived spike.

Client equity rose 34% to $769.7 billion as broader grew. reached $83.3 billion, up 38% from the prior year, reflecting heavier borrowing from active traders and hedge funds. totaled $154 billion, including $6.2 billion in insured bank sweep deposits, a 30% increase. The platform ended November with 4.31 million accounts, up 33% from last year and 2% above October.

Investor Takeaway

How Do These Results Fit Into Interactive Brokers’ Long-Term Trajectory?

The backdrop to these figures is nahead five decades of technology-driven execution. The firm traces its begin to 1977, when Thomas Peterffy began automating options market-making through an ahead predecessor, T.P. & Co. By the ahead 1980s, the business operated as Timber Hill, one of the first market makers to rely on handheld computers on trading floors long before algorithmic execution became common.

Interactive Brokers Inc. formed in 1993 to deliver similar tools to institutions and professionals. Over the following two decades, the company shifted away from market-making, eventually spinning off that segment and going public in 2007. The brokerage’s technology-first approach remains central to its identity and shows up in its numbers: more clients trading more products across more markets.

More than half of Interactive Brokers’ customers now reside outside the United States. The platform connects to over 160 markets in 36 countries and supports 28 currencies. The firm also reports its own equity capital through a proprietary multi-currency basket called the GLOBAL, built to spread currency exposure. The GLOBAL inched higher by 0.05% in November and 1.77% year-to-date, creating periodic swings in comprehensive income when platform rates move.

What Does November Tell Us About Client Behavior?

The firm reported an average commission of $2.62 per cleared trade in November. Stock orders averaged 809 shares, options averaged 6.6 contracts and futures 2.8 contracts per order. per account reached 214, reflecting rising activity per user.

For IBKR Pro clients—its core base of professionals, active traders and advisors—the all-in cost of executing and clearing U.S. Reg-NMS stocks averaged about three basis points of traded value. This closely aligns with the 12-month average of 2.8 basis points. With ongoing debates around payment for order flow and best execution, IBKR continues to highlight these metrics to contrast its routing model, which relies on platform-based price improvement instead of heavy wholesale rebates.

Industry commentary throughout 2024 and into 2025 has pointed to a favorable environment for the brokerage. Higher volatility during parts of the year lifted trading volumes, and elevated interest rates increased net interest income on idle cash and margin loans. The firm also continues to pick up international market share as more traders shift from domestic-only exposure to multi-currency portfolios.

Investor Takeaway

What’s Ahead for Interactive Brokers?

While month-to-month fluctuations are inevitable, November’s numbers reinforce a clear pattern: account growth remains steady, cash and collateral balances keep rising and traders are active across asset classes. The company’s long-running focus on automation, low execution costs and wide continues to attract clients who trade more often and across borders.

Interactive Brokers’ latest metrics suggest that high-engagement trading—once viewn as episodic and volatility-driven—has become part of the firm’s baseline. As global interest-rate conditions and cross-asset flows shift, the brokerage enters 2025 with a user base that is more active, more global and more capitalized than in any prior period.