Interactive Brokers Ends Account Inactivity Fees

US-listed Interactive Brokers has aligned itself with other industry heavyweights by removing its monthly inactivity charge. The move takes effect from July 1, 2021. The brokerage announced the change in an email to its live clients this month.

Interactive Brokers logo

IB Removes Monthly Inactivity Charge

Clients will no longer need to hold a minimum balance in their trading accounts. “This change will be reflected in your August 2021 account statement. Our decision to remove inactivity fees aligns us with industry standards and reflects our ongoing commitment to provide clients with low-cost trading solutions,” IB announced in the client communications.

Trading Activity Rises

In the company’s June report, Interactive Brokers reported positive results across several key metrics, including Daily Average Revenue Trades (DARTs) and closing client margin loan balances. IB saw 2.471 DARTs during the month, representing a 10% increase on the preceding month while stopping trader equity came in at $363.5 billion, 79% higher than in June of the previous year.

The number of new accounts is also rising. An impressive 1.41 million accounts were created, 61% more than in 2020 and a 3% rise on the previous month.

About Interactive Brokers

IB is a familiar name in the retail trading industry. Founded over 40 years ago, the brokerage offers trading in an array of popular financial markets, from forex and CFDs to futures, options, ETFs and bonds. The company offers the advanced Trader Workstation (TWS) platform, available on desktop and mobile. Equipped with popular technical indicators and facilitating a range of strategies and trading styles, it suits both new and experienced traders.

IB TWS platform
Trader Workstation

Interactive Brokers is a popular online brokerage, with a client base spanning multiple continents. Its latest decision to remove account inactivity fees brings it in line with other large providers and will help keep costs down for account holders.

Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.