Leading FX broker Interactive Brokers Group, Inc reported its monthly trading metrics for August 2014, which shows customer equity rose despite a slight decline in daily average revenue trades (DARTS).
The DARTS fell 6 percent from July and rose 5 percent from the previous year. In July, Interactive Brokers had reported that trading volumes rose 7 percent from June at a time when most of its peers were reporting weaker performance.
Customer equity in August stood at $55.7 billion, up 40 percent from the previous year, a remarkable feat considering that most FX firms reported record figures in 2013. The customer equity also rose 4 percent in August from the previous month. Ending customer margin loan balances grew 39 percent to $16.6 billion in August from a year earlier and was up 4 percent from the previous month.
Ending customer credit balance for the month of August was $29.5 billion, up 24 percent from the previous year and 4 percent higher from July.
The company also reported that the number of customer accounts rose 1 percent from July to 269,000 and were up 17 percent from a year earlier, with yearly average cleared DARTS amounting to 421 for each customer account. Average commission for each cleared client order was $4.30 in August 2014, inclusive of regulatory, exchange and clearing fees.
The results have come at a time when most retail FX firms have been exiting the U.S. markets due to stubbornly low trading volumes, leaving Interactive Brokers to dominate the U.S. retail FX market. For further information, please read this press release.
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