Interactive Brokers Group
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Interactive Brokers Group (IBKR) investor relations material

Interactive Brokers Group Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary20 Jan, 2026

Executive summary

  • Achieved record financial results in Q4 2025, with over 1 million net new accounts and client equity rising 37% to $780 billion year-over-year.

  • GAAP diluted EPS was $0.63, up from $0.50 year-over-year; adjusted EPS was $0.65, up from $0.51.

  • GAAP net revenues reached $1.64 billion, an 18% increase; adjusted net revenues were $1.67 billion, up 18%.

  • Income before income taxes was $1.30 billion (GAAP), up from $1.04 billion; adjusted was $1.33 billion, up from $1.08 billion.

  • Clients outperformed the S&P 500, with individual investors, advisors, and hedge funds all exceeding benchmark returns.

Financial highlights

  • Quarterly adjusted pre-tax income exceeded $1 billion for the fifth consecutive quarter.

  • Full-year net revenues surpassed $6 billion for the first time.

  • Commission revenues reached a record $582 million in Q4 and $2.1 billion for the year, up 27% year-over-year.

  • Net interest income was $966 million for the quarter and $3.6 billion for the year, supported by higher customer margin loans and credit balances.

  • Pre-tax margin matched the record 79% for the quarter and set a new annual record at 77%.

  • Total assets grew 35% year-over-year to $203 billion; firm equity exceeded $20 billion for the first time.

Outlook and guidance

  • Expectation to be operational with a National Trust Charter Bank by year-end, enabling custody of mutual and exchange-traded funds.

  • Continued focus on expanding AI initiatives and global product offerings, with new geographies and features planned for 2026.

  • Anticipate similar expense and headcount growth rates as prior years, with potential increases from AI investments.

  • Forward-looking statements caution that actual results may differ due to risks and uncertainties in the business environment.

Explain the decline in commission per order.
What caused the drop in interest yields?
Why did principal trading volumes decline?
What new asset types will the bank charter enable?
How will ForecastEx attract institutional clients?
What drives crypto adoption for IBKR clients?
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UBS Financial Services Conference 20269 Feb, 2026
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Frequently asked questions

A Brokerage for All Investors

Interactive Brokers (IBKR) is a multinational brokerage firm established in 1978. With its origins in electronic trading, the firm has expanded to offer a wide range of financial services to individual and institutional clients around the world. Known for its advanced trading platforms, low-cost structure, and direct market access, IBKR caters to active traders, hedge funds, and professional investors. The platform provides access to over 125 market centers across 31 countries, making it a go-to for global trading. Furthermore, it offers stocks, options, futures, forex, and fixed-income products.

Origins as a Market Maker

Interactive Brokers (IBKR) was founded by Thomas Peterffy in 1978. Initially, the firm began its journey as a market maker, a crucial player that provides liquidity in financial markets. Peterffy was a pioneer in the early adoption of computerized trading, utilizing automated systems at a time when most trading was manually executed. By the mid-1980s, IBKR transitioned from trading on the floor to the screen, being one of the first to use computer-generated fair value sheets. Over the years, the firm shifted its focus from market-making to brokerage, capitalizing on its cutting-edge technology to offer advanced trading platforms. This transition allowed IBKR to serve a broader clientele, from individual traders to large institutions, giving them access to global markets at competitive rates.

Further reading: 5 Leading Online Brokers for Innovation

For Retail Investors

Interactive Brokers offers a comprehensive suite of services for retail investors. They provide access to a vast array of global markets, allowing clients to trade stocks, options, futures, forex, and bonds from a single platform. Their trading tools are powerful yet user-friendly and are usable by both novice and experienced traders and investors. One of their standout features is the low-cost trading with competitive commission rates. Additionally, they offer a robust research platform, a wealth of educational resources, and a mobile app. As many contemporary brokers do, the company also has robo-advisory services. Some of the company’s publicly traded peers include Charles Schwab, flatexDEGIRO, and Robinhood.

For Institutional Clients

Interactive Brokers provides a comprehensive suite of services tailored to meet the demands of institutional clients. Catering to hedge funds, financial institutions, and professional traders, their offerings include advanced trading platforms with high-speed execution and direct market access. Institutional clients can also benefit from prime brokerage services, which encompass securities lending, leveraged trade financing, and consolidated reporting. In addition, IBKR offers sophisticated API solutions for algorithmic trading and integration.

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