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, which offers direct market access to foreign exchange (forex), futures, stocks, options, fixed-income, exchange-traded funds and more, Interactive Brokers UK is the British subsidiary of the Group, regulated by the (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 per cent, as turnover for the previous year was £33.64 million.
Interactive Brokers UK offers execution 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 per cent 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 per cent 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 per cent 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.
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