Amid controversy, Greenwich-based Interactive Brokers continue to grow

GREENWICH – Interactive Brokers Group saw a surge in user activity over the past month, despite customers falling due to short-lived trading restrictions.

The top January data released this week by the Greenwich-based broker saw an average of 3.3 million high-revenue trades per day, up 223 percent from January 2020 and 43 percent from December 2020.

The company ended January with nearly 1.2 million customer accounts, including 57,000 generated through the recent acquisition of the retail brokerage business Folio Investments from Goldman Sachs. The monthly total was an increase of 69 percent over the previous year and an increase of 11 percent over December.

Interactive Brokers’ client business includes stocks and contracts for futures and options. The company makes money on trading commissions, but offers US customers a service plan that includes commission-free deals in US publicly traded stocks and funds.

As the company # 862 on the latest Fortune 500 list, Interactive Brokers has had a significant customer base over the past year – a trend that company officials attribute to increased user interest in response to the coronavirus crisis and market volatility. At the end of last year, 1 million customer accounts were exceeded, an increase of 50 percent over the previous year.

In recent weeks, however, the company has been under scrutiny amid the hype surrounding companies like GameStop.

Last Thursday, Interactive Brokers announced that it would be discouraging customers from buying options for GameStop, cinema giant AMC Entertainment, software company BlackBerry, fashion retailer Express and consumer electronics specialist Koss « because of the extraordinary volatility of the markets. » Options are contracts that give buyers the right to buy or sell shares at certain prices on certain dates.

Customers lambasted these bans, which came with similar restrictions put in place by other brokers such as Robinhood and Charles Schwab. Critics argued that the new rules would unfairly restrict retail investors from trading with the companies in demand, while benefiting large investment firms that had cut their stocks in the expectation that their prices would fall.

After the brokers ‘new rules were announced, the affected companies’ share prices fell. GameStop’s shares fell 44 percent to $ 194 last Thursday.

Over the past week, some clients have filed lawsuits against Interactive Brokers and several other brokers for manipulating the market with their new restrictions.

Interactive Brokers was quick to abandon its new requirements. Last Friday it announced on its Twitter account that it was lifting the new option restrictions. The tweet gave no explanation for the decision.

GameStop’s stock prices rose again last Friday after other brokers like Robinhood began to roll back their new rules. But the market turmoil continued this week, with GameStop shares falling 60 percent on Tuesday, ending the day at $ 90.

Interactive Brokers’ own shares closed Tuesday at around $ 68, up 4 percent from Monday.

pschott@stamfordadvocate.com; Twitter: @paulschott

pschott@stamfordadvocate.com; Twitter: @paulschott

What is Stamford CT known for?

What is Stamford CT known for?

Connecticut, Stamford is located in Fairfield County and is known as « the city that works. » It was founded in 1893 and is best known for the electric dry shaver industry.

Is Stamford CT dangerous?

The odds of being a victim of violent crime or property crime in Stamford are 1 in 63. According to the FBI, Stamford is not one of the safest communities in America. Compared to Connecticut, Stamford has a crime rate that is over 71% of cities and towns of all sizes in the state.

Where should I live when working in Stamford CT?

Some of the top neighborhoods in Stamford are Springdale, Glenbrook and Shippan Point. Springdale is a great choice if you want that « small town » feel while you want to stay close to the city action. Glenbrook is more urban, with a pretty even split between homeowners and tenants.

What is the cost of living in Stamford CT?

COST OF LIFE Stamford Connecticut
grocery store 105.6 106.6
health 102.3 97.7
casing 125.9 103.6
Median home cost $ 291,000 $ 239,600

Is Stamford CT a Good Place to Live?

Is Stamford CT a Good Place to Live?

Located in Fairfield County, Stamford is one of the best places to live in Connecticut. Life in Stamford offers residents an urban suburban mix feel and most residents own their homes. There are many bars, restaurants, cafes and parks in Stamford.

What is the crime rate in Stamford CT?

The Stamford CT crime rate for 2018 was 165.14 per 100,000 population, a decrease of 26.37% from 2017. The Stamford CT crime rate for 2017 was 224.29 per 100,000 population, a decrease of 16.86% from 2016. The Stamford CT crime rate for 2016 was 269.76 per 100,000 population, an increase of 22.75% from 2015.

How far is Stamford CT from Manhattan?

The distance between Manhattan and Stamford is 29 miles. The road distance is 33.7 miles.

Is Stamford nice?

There’s a wonderful sense of community in Stamford. It’s an ambitious, easy-going, and (quietly) affluent place. Residents tend to be just as proud of the community as they are of their careers. It seems that you are never a tourist in your own city.

Is Stamford CT expensive?

Is Stamford CT expensive?

The cost of living in Stamford, Connecticut is 42% above the national average. The cost of living in an area can vary based on factors such as your career, average salary, and the property market in that area.

What is the richest city in Connecticut?

rank City, village
1 New Canaan City, village
2 Darien City, village
3 Greenwich City, village
4th Weston City, village

What’s a good salary in CT?

The group estimates that a family of two adults and two children in Fairfield County would have to make $ 109,497 a year – or $ 9,125 a month – to live comfortably.

Is Stamford Connecticut Rich?

Stamford looks like any other midsize city in the US with a cluster of glassy office towers. … A staggering 17.9% of households in the region, named Bridgeport-Stamford-Norwalk according to the census, earn enough to rank in the top 5% of Americans with the densest concentration of wealth in the country.

How many millionaires live in Connecticut?

Connecticut has 122,045 millionaire households, a ratio of 8.89 percent to total households. This emerges from the report by Phoenix Marketing International, which records wealthy households.

Is Greenwich CT snobby?

Greenwich is … … it’s better than Westchester, but still has its snobby side – especially on Greenwich Avenue. But it’s also a place where you can have privacy. As I said before, that’s what you make of it.

How many billionaires are there in Connecticut?

GREENWICH, CT – Connecticut has 17 billionaires. This goes from Forbes ’33. Annual ranking of the world’s billionaires published on Tuesday. The ranking includes 2,153 people with total assets of $ 8.7 trillion.

Amid controversy, Greenwich-based Interactive Brokers continue to grow
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