GREENWICH, Conn. - December 10, 2018 - Interactive Brokers Group, Inc. (IEX: IBKR), an automated global electronic broker, announced that starting January 1, 2019 it will pay interest on cash balances to clients with less than $100,000 of net assets in their IBKR securities accounts.
Client accounts that have a Net Asset Value (NAV) of $100,000 or more (or the equivalent value in certain other currencies) currently receive credit interest on cash in their securities accounts, which includes long settled cash balances and short stock collateral values. Beginning New Year's Day, this benefit is being extended to client accounts that have an NAV of less than $100,000. The benefit will apply to all eligible currencies.1
"Most of our competitors pay little or no interest to clients on cash in their accounts, large or small," said Thomas Peterffy, CEO, Interactive Brokers. "We pay some of the highest rates, if not the highest, in the industry. We are now extending this benefit to clients with smaller accounts."
Accounts with NAV of less than $100,000 will receive interest at rates proportional to the size of the account. For example, an account with an NAV of $50,000 would earn credit interest at a rate equal to one-half the rate paid by IBKR to accounts with NAV of $100,000 or more.
In addition to paying clients competitive interest on cash balances, Interactive Brokers is also known for charging extremely low commissions to invest in stocks, options, futures, forex and fixed income products. IBKR also offers clients some of the lowest borrowing rates in the industry and the opportunity to earn extra income by lending out fully-paid shares.
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 IBKR Integrated Investment Account 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 26, 2018. 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 or no cost, positioning them to achieve superior returns on investments.
For Interactive Brokers Group, Inc.
Investors: Nancy Stuebe, 203-618-4070 or
Media: Kalen Holliday, 203-913-1369 or firstname.lastname@example.org.
See ibkr.com\interest for details.