Interactive Brokers' Margin Loans Grew 49% in a Year to $100.7 Billion
The more it is able to lend out to customers, the more the company benefits.
Overview
In July, Interactive Brokers (NASDAQ: IBKR) proved yet again that it is one of the fastest-growing brokerages in the world. Customer margin loans surpassed $100 billion in July, and were up 49% year over year.
This indicates that the animal spirits of the bull market are in full swing and that Interactive Brokers is capturing significant market share in the financial asset trading space. Here's why the electronic broker's margin debt has grown so quickly, and what it means for earnings this quarter.
Details
In July, the total number of Interactive Brokers customers grew 34% year over year to 5.3 million. The company is attracting increasingly sophisticated customers and professionals to its platform due to its global coverage of financial assets and its low margin-debt rates.
Source
Originally published at www.fool.com.