Interactive Brokers, one of the world’s largest online trading platforms has made it easier for smaller investors to trade the market by reducing the cost of running an inactive account.
It’s a move that a lot of trading platforms have made recently to maintaining competitiveness against the newer breed of nimble fintech, nipping at the incumbents heels.
Interactive Brokers announced the reduction in costs in an email to customers stating:
“This change will be reflected in your August 2021 account statement. Our decision to remove inactivity fees aligns us with industry standards and reflects our ongoing commitment to provide clients with low-cost trading solutions,” the US-listed brokerage noted in the email addressed to their users. According to their report for June, interactive Brokers had been witnessing positive numbers across all its fronts in terms of metrics, including Daily Average Revenue Trades (DARTs) and ending client margin loan balances.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
To contact Richard, please see his Invesdaq profile.
