Company Continues to be a Leader in Providing Low Margin Fees
GREENWICH, Conn.-Thursday, January 11th 2018 [ AETOS Wire ]
(BUSINESS WIRE) -- Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) an automated global electronic broker, announced that, effective January 22, the company plans to increase the interest it charges on its top tier USD based margin loans above $3,000,000 by five basis points. The rate on the largest loan amounts will rise from 1.67% to 1.72%1. Rates will remain unchanged on smaller loans.
“IBKR is increasing the interest rate charged on our largest loans as our total margin loans outstanding are about to exceed $30 billion,” said Interactive Brokers Group Chairman and CEO Thomas Peterffy. “The company is taking this conservative step to slow the growth of margin loans.”
One of the lowest cost online brokers, Interactive Brokers has consistently provided clients with low margin rates. IBKR’s complete schedule of margin loan rates is as follows:
Benchmark Rate + 1.5%
Benchmark Rate + 1.0%
Benchmark Rate + 0.5%
Benchmark Rate + 0.3%
*Currently available rates for USD based loans. Other currency loans are available at comparable rates.
Separately, the firm is expected to take a charge of approximately $84 million to fourth quarter earnings due to the recent enactment of the Tax Cuts and Jobs Act.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 120 markets in numerous countries and currencies from a single IB Universal AccountSM to customers worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our customers with a uniquely sophisticated platform to manage their investment portfolios at the lowest cost according to Barron’s Best Online Brokers review, March 20, 2017. We strive to provide our customers with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low prices, positioning them to achieve superior returns on investments.
1. The margin benchmark rate, and therefore the total interest rate you are charged, may change without notice; the current rates are available at www.ibkr.com/interest.
For Interactive Brokers Group, Inc.
Nancy Stuebe, 203-618-4070
Kalen Holliday, 203-913-1369
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