Interactive Brokers

Interactive Brokers LLC
Public
Traded as NASDAQ: IBKR
Industry Financial services
Founded 1993 (1993)
Headquarters Greenwich, Connecticut,
United States
Area served
 Worldwide
Key people
 Thomas Peterffy
(Founder, Chairman & CEO)
Products Direct market access to stocks, options, futures, forex, bonds, ETFs and CFDs
Services Online brokerage, direct-access trading
Parent Interactive Brokers Group
Website www.interactivebrokers.com

Interactive Brokers LLC (IB) is a U.S.-based online discount brokerage firm. It is the largest U.S. online brokerage firm by number of daily average revenue trades;[1] it also is the leading forex broker.[2] The company is headquartered in Greenwich, Connecticut and has offices in Chicago, Hong Kong, Shanghai (a representative office), Sydney, and Zug. It is a subsidiary of Interactive Brokers Group, Inc.,[3] which has offices in thirteen countries.

IB is regulated by the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (FINRA), New York Stock Exchange, Financial Conduct Authority and foreign regulatory agencies.[4] The company is a provider of fully disclosed and non-disclosed broker accounts and provides correspondent clearing services to 200 introducing brokers worldwide.[5] It has offered direct market access on Australian contracts for difference since 2008.[6]

History

Interactive Brokers was founded by Thomas Peterffy, an early innovator in computer-assisted trading. He introduced electronic devices to options floor trading at the Chicago Board of Trade and went on to develop related trading technologies before entering the online retail brokerage business.[7]

Litigation and arbitration decisions

In February 2015, a FINRA arbitration panel ruled that the firm must pay $667,000 for customer losses resulting from the way the firm handled margin calls.[8]

In April 2015, the trading firm was required by an arbitrator to pay damages to a customer because the firm failed to stop “reckless trading” by a trust fund overseer which reduced $800,000 to $75,000.[9]

Awards

Interactive Brokers was rated #1 for International Trading in the 2013,[10] 2014,[11] and 2015[12] StockBrokers.com Annual Reviews.

See also

References

  1. ↑ "Interactive Brokers Adds IEX as an Electronic Trading Venue". The New York Times. Business Wire. April 3, 2014. Retrieved July 2, 2014.
  2. ↑ "Interactive Brokers Leads Industry in Percentage of Profitable Customer Forex Accounts". The Wall Street Journal. Business Wire. February 6, 2013. Retrieved July 2, 2014.
  3. ↑ "Interactive Brokers". Retrieved 21 July 2015.
  4. ↑ "IB Fact Sheet". Interactive Brokers. Interactive Brokers Group. Retrieved June 23, 2014.
  5. ↑ "Interactive Brokers Rated #1 Online Broker by Barron's for the Third Year in a Row". The Wall Street Journal. Business Wire. March 19, 2014. Retrieved July 2, 2014.
  6. ↑ "Interactive Brokers Launches Contracts for Difference in Australia". Bloomberg News. Business Wire. October 21, 2008. Retrieved July 2, 2014.
  7. ↑ McGee, Susan (November 10, 2005). "A Breed Apart". Institutional Investor Magazine (November 2005) (Institutional Investor LLC). Retrieved June 27, 2014.
  8. ↑ Barlyn, Suzanne (2015-02-18). "Interactive Brokers must pay $667,000 for portfolio selloff mishap". Reuters.
  9. ↑ Barlyn, Suzanne (2015-04-28). "Interactive Brokers ordered to pay $1.2 million for trustee's 'reckless' trades". Reuters.
  10. ↑ "2013 Online Broker Review", February 19, 2013.
  11. ↑ "2014 Online Broker Review", February 18, 2014.
  12. ↑ "2015 Online Broker Review", February 17, 2015.

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