Interactive Brokers UK Profit for 2018 Rises by 11.3% YoY

Interactive Brokers (U.K.) Limited (Interactive Brokers UK) has filed its annual report and financial statements for the year ended December 31, 2018, revealing an overall solid performance from the company during the year.

Part of the Interactive Brokers Group, which offers direct market access to foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term), futures, stocks, options, fixed-income, exchange-traded funds and more, Interactive Brokers UK is the British subsidiary of the Group, regulated by the Financial Conduct Authority (FCA).

During the 12 months ended December 31, 2018, the London-based company reported a turnover, or net commissions, of £37.42 million. This represents a growth of 11.2 percent, as turnover for the previous year was £33.64 million.

Interactive Brokers UK offers Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and clearing broking services in equity and derivative products to private and institutional clients. It also operates as a client carrying broker-dealer, which provides unallocated spot gold and silver, contracts for differences (CFDs) and more.

During the 12 month period in 2018, the number of carried client accounts increased by 16.8 percent year-on-year to reach 39,633, up from 33,942 from the previous year.

Operating Profit Falls for Interactive Brokers UK in 2018

Operating profit, however, actually noted a year-on-year decline, falling by 18.7 percent from £10.5 million in 2017 to £8.5 million in the 2018 financial period.

Despite the fall in operating profit, profit after tax and profit for the financial year still managed to rise on an annual comparison. Specifically, profit for the year was £16.49 million. This is up by 11.3 percent from 2017’s profit of £14.81 million.

Looking to the future, in 2019, Interactive Brokers UK intends to “further expand its product and market offerings.” Finance Magnates reached out to the company for comment on the results, but as of the time of publishing, we have not received a response.